Vanguard Group Inc. Has $35.43 Billion Stake in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Vanguard Group Inc. has increased its stake in Netflix, Inc. by 1.4%, bringing its total ownership to about 37.9 million shares valued at approximately $35.43 billion.
• Netflix's stock is highly favored by institutional investors, with 80.93% of the stock currently held by such entities.
• Recent insider sales include significant transactions by directors Reed Hastings and Jay C. Hoag, with a total of 146,185 shares sold, worth around $179 million.

Vanguard Group Inc. lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,997,260 shares of the Internet television network's stock after purchasing an additional 509,255 shares during the quarter. Netflix comprises about 0.6% of Vanguard Group Inc.'s investment portfolio, making the stock its 22nd biggest position. Vanguard Group Inc. owned about 8.93% of Netflix worth $35,433,585,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NFLX. GAMMA Investing LLC lifted its holdings in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after acquiring an additional 8,827,662 shares in the last quarter. Goldman Sachs Group Inc. raised its position 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 valued at $3,164,134,000 after purchasing an additional 1,236,251 shares during the period. Northern Trust Corp lifted its stake in shares of Netflix by 14.3% during 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. Two Sigma Advisers LP boosted its position in shares of Netflix by 935.7% in the fourth quarter. Two Sigma Advisers LP now owns 461,900 shares of the Internet television network's stock worth $411,701,000 after buying an additional 417,300 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Netflix by 42.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,387,159 shares of the Internet television network's stock valued at $1,293,567,000 after buying an additional 410,235 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded up $1.89 during trading hours on Thursday, hitting $1,180.37. The stock had a trading volume of 2,625,184 shares, compared to its average volume of 4,041,499. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 1-year low of $616.02 and a 1-year high of $1,341.15. The stock's fifty day simple moving average is $1,232.06 and its 200 day simple moving average is $1,091.12. The firm has a market capitalization of $501.57 billion, a price-to-earnings ratio of 50.29, a PEG ratio of 1.98 and a beta of 1.59.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Barclays restated a "sell" rating and issued a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Citigroup reiterated a "neutral" rating and issued a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Finally, Sanford C. Bernstein raised their target price on Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director owned 63,040 shares of the company's stock, valued at $78,948,144. The trade was a 33.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bradford L. Smith sold 3,919 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the sale, the director owned 7,969 shares of the company's stock, valued at $8,959,227.94. This trade represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,584 shares of company stock worth $185,411,484. Corporate insiders own 1.37% of the company's stock.

About Netflix

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.