Oak Ridge Investments LLC Buys 1,140 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Oak Ridge Investments LLC increased its stake in Netflix, Inc. by 5.6%, growing its position to approximately $19.96 million, which constitutes about 1.7% of their total holdings.
• Over 80% of Netflix's stock is held by institutional investors, with notable increases in holdings reported from firms like GAMMA Investing LLC and Vanguard Group Inc.
• Netflix reported an EPS of $7.19 for the last quarter, surpassing analyst expectations, while also experiencing insider sales by executives totaling over $179 million in the last three months.

Oak Ridge Investments LLC raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,400 shares of the Internet television network's stock after purchasing an additional 1,140 shares during the quarter. Netflix comprises about 1.7% of Oak Ridge Investments LLC's investment portfolio, making the stock its 14th biggest position. Oak Ridge Investments LLC's holdings in Netflix were worth $19,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after acquiring an additional 509,255 shares in the last quarter. GAMMA Investing LLC grew its stake in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares in the last quarter. Invesco Ltd. grew its stake in Netflix by 8.3% in the first quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock worth $4,350,083,000 after purchasing an additional 356,617 shares in the last quarter. Northern Trust Corp grew its stake in Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after purchasing an additional 570,674 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Netflix by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after acquiring an additional 1,236,251 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded up $8.39 on Friday, hitting $1,238.95. 2,766,194 shares of the company were exchanged, compared to its average volume of 3,760,348. The company's 50 day moving average price is $1,231.28 and its two-hundred day moving average price is $1,100.31. Netflix, Inc. has a one year low of $660.80 and a one year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $526.47 billion, a price-to-earnings ratio of 52.79, a PEG ratio of 2.07 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.88 earnings per share. Research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler lifted their price target on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Wolfe Research set a $1,340.00 price target on Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. JPMorgan Chase & Co. lifted their price target on Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Bank of America lifted their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, Wells Fargo & Company lifted their price target on Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Insider Buying and Selling

In other news, Director Reed Hastings sold 26,933 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the sale, the director owned 394 shares of the company's stock, valued at approximately $477,394.04. This represents a 98.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares of the company's stock, valued at $14,793,240.64. This trade represents a 13.68% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,307 shares of company stock valued at $179,443,809. 1.37% of the stock is owned by insiders.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.