Stevens Capital Management LP Takes $8.76 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Stevens Capital Management LP has acquired 9,398 shares of Netflix, valued at approximately $8.76 million, making it the firm's 8th largest holding at 2.2% of its portfolio.
• Netflix reported strong quarterly earnings, with an EPS of $7.19, exceeding estimates, and a 15.9% year-over-year revenue growth of $11.08 billion.
• Institutional investors own 80.93% of Netflix's shares, indicating a strong investment interest in the company.

Stevens Capital Management LP acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,398 shares of the Internet television network's stock, valued at approximately $8,764,000. Netflix accounts for approximately 2.2% of Stevens Capital Management LP's investment portfolio, making the stock its 8th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Prescott Group Capital Management L.L.C. acquired a new position in shares of Netflix during the first quarter worth about $316,000. AM Investment Strategies LLC purchased a new stake in Netflix in the first quarter valued at approximately $200,000. Drive Wealth Management LLC raised its holdings in shares of Netflix by 0.9% in the first quarter. Drive Wealth Management LLC now owns 1,528 shares of the Internet television network's stock valued at $1,425,000 after buying an additional 14 shares during the last quarter. Glynn Capital Management LLC raised its stake in shares of Netflix by 0.7% during the first quarter. Glynn Capital Management LLC now owns 2,717 shares of the Internet television network's stock worth $2,534,000 after purchasing an additional 18 shares during the last quarter. Finally, Caliber Wealth Management LLC KS purchased a new position in shares of Netflix during the 1st quarter worth approximately $223,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on NFLX shares. Citigroup reissued a "neutral" rating and issued a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. FBN Securities started coverage on Netflix in a report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target for the company. TD Cowen increased 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. Macquarie lifted their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Finally, KeyCorp boosted their price target on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Stock Down 0.0%

Shares of NFLX stock traded down $0.27 during trading on Friday, reaching $1,180.49. The company's stock had a trading volume of 2,624,404 shares, compared to its average volume of 3,928,007. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The business has a fifty day moving average price of $1,236.44 and a 200-day moving average price of $1,071.39. The company has a market cap of $501.63 billion, a price-to-earnings ratio of 50.30, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59.

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. Analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,824,949.02. This trade represents a 41.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 620 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The disclosure for this sale can be found here. Insiders have sold a total of 185,923 shares of company stock worth $222,445,095 in the last three months. Company insiders own 1.37% of the company's stock.

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.