Public Sector Pension Investment Board Acquires 57,447 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• The Public Sector Pension Investment Board increased its stake in Netflix, Inc. by 93.1%, acquiring an additional 57,447 shares, bringing its total holdings to 119,124 shares valued at approximately $111 million.
• Netflix reported a quarterly earnings per share (EPS) of $7.19, exceeding analyst expectations, with a revenue of $11.08 billion, reflecting a 15.9% year-over-year increase.
• Insider trading activity included CEO Theodore A. Sarandos selling 2,026 shares for about $2.35 million, reducing his ownership stake by 11.78%.

Public Sector Pension Investment Board boosted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 93.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,124 shares of the Internet television network's stock after buying an additional 57,447 shares during the period. Public Sector Pension Investment Board's holdings in Netflix were worth $111,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Halbert Hargrove Global Advisors LLC lifted its holdings in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new position in Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC bought a new stake in shares of Netflix during the fourth quarter valued at about $32,000. Copia Wealth Management bought a new stake in shares of Netflix during the fourth quarter valued at about $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix in the first quarter worth about $42,000. Institutional investors own 80.93% of the company's stock.

Netflix Price Performance

Shares of Netflix stock opened at $1,211.64 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. Netflix, Inc. has a one year low of $622.99 and a one year high of $1,341.15. The business's 50 day simple moving average is $1,232.25 and its two-hundred day simple moving average is $1,095.21. The stock has a market capitalization of $514.86 billion, a P/E ratio of 51.63, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS 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 the consensus estimate 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 period in the previous year, the firm earned $4.88 earnings per share. Analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Cowen boosted their price objective on shares of Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Loop Capital reiterated a "hold" rating on shares of Netflix in a research note on Tuesday, July 15th. Seaport Res Ptn lowered shares of Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,425.00 price target (up previously from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Finally, Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insider Activity at Netflix

In related news, CEO Theodore A. Sarandos sold 2,026 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the transaction, the chief executive officer owned 15,168 shares in the company, valued at $17,604,284.16. The trade was a 11.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Spencer Adam Neumann sold 685 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $1,161.21, for a total value of $795,428.85. Following the completion of the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,286,026.11. This trade represents a 15.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,307 shares of company stock valued at $179,443,809 in the last quarter. 1.37% of the stock is currently owned by company 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.

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