Prudential PLC Has $31.83 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Prudential PLC increased its stake in Netflix, Inc. by 19.2% during the first quarter, now holding 34,134 shares valued at approximately $31.8 million.
• Insider sales occurred on August 5th, with CEO Theodore Sarandos and another insider selling shares, reducing their ownership by 11.78% and 1.32%, respectively, in transactions worth over $2.8 million combined.
• Netflix reported earnings of $7.19 EPS for the most recent quarter, surpassing expectations, with a year-over-year revenue increase of 15.9% to $11.08 billion.

Prudential PLC boosted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 19.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,134 shares of the Internet television network's stock after purchasing an additional 5,491 shares during the period. Prudential PLC's holdings in Netflix were worth $31,831,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC increased its holdings in shares of Netflix by 234.4% in the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock valued at $942,000 after buying an additional 708 shares in the last quarter. Janus Henderson Group PLC raised its stake in Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after purchasing an additional 110,432 shares during the period. PharVision Advisers LLC acquired a new stake in Netflix during the 4th quarter valued at $873,000. New England Research & Management Inc. raised its stake in Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after purchasing an additional 1,268 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Netflix by 6.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after purchasing an additional 3,137 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,824,949.02. The trade was a 41.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director directly owned 63,040 shares of the company's stock, valued at $78,948,144. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,307 shares of company stock worth $179,443,809 in the last quarter. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of Netflix stock traded down $20.84 during trading on Wednesday, hitting $1,204.44. 2,758,820 shares of the stock were exchanged, compared to its average volume of 3,911,842. The stock has a market capitalization of $511.80 billion, a price-to-earnings ratio of 51.32, a price-to-earnings-growth ratio of 2.06 and a beta of 1.59. The company has a fifty day moving average price of $1,231.68 and a 200-day moving average price of $1,098.52. Netflix, Inc. has a 1-year low of $648.70 and a 1-year high of $1,341.15. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. Netflix's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.88 EPS. As a group, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NFLX shares. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Sanford C. Bernstein upped their price objective on shares of Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Jefferies Financial Group reiterated a "buy" rating on shares of Netflix in a report on Tuesday. The Goldman Sachs Group upped their price target on shares of Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Finally, KeyCorp upped their price target on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix 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.