Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Vestcor Inc

Key Points

• Vestcor Inc increased its stake in Netflix, Inc. by 20.7%, owning a total of 9,608 shares valued at approximately $8.96 million following the acquisition of 1,646 additional shares.
• Netflix reported an EPS of $7.19 for the last quarter, exceeding analysts' expectations, and demonstrated a 15.9% year-over-year revenue growth with a total revenue of $11.08 billion.
• Insider trading activity included significant sales by directors, with 153,408 shares worth $186.6 million sold collectively in the last 90 days, indicating potential changes in investor sentiment.

Vestcor Inc increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 20.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,608 shares of the Internet television network's stock after buying an additional 1,646 shares during the quarter. Vestcor Inc's holdings in Netflix were worth $8,960,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after purchasing an additional 144 shares in the last quarter. BIP Wealth LLC raised its position in Netflix by 23.8% in the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after purchasing an additional 87 shares in the last quarter. Cannell & Spears LLC purchased a new position in shares of Netflix in the 4th quarter valued at about $201,000. Finally, Nemes Rush Group LLC grew its position in shares of Netflix by 4.0% during the fourth quarter. Nemes Rush Group LLC now owns 4,837 shares of the Internet television network's stock worth $4,311,000 after buying an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $1,500.00 price target on shares of Netflix in a research note on Friday, July 18th. Cfra Research raised Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Seaport Res Ptn downgraded Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. JPMorgan Chase & Co. boosted their price target on Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Finally, Macquarie boosted their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insiders Place Their Bets

In other Netflix news, Director Strive Masiyiwa sold 290 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 123,830 shares of company stock valued at $153,102,930. 1.37% of the stock is owned by insiders.

Netflix Stock Down 0.1%

NASDAQ:NFLX traded down $0.80 during trading hours on Friday, hitting $1,158.60. The stock had a trading volume of 3,886,745 shares, compared to its average volume of 4,271,341. The company has a market cap of $492.32 billion, a PE ratio of 49.37, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59. The business has a 50 day simple moving average of $1,234.85 and a two-hundred day simple moving average of $1,080.08. 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, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly 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. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter in the previous year, the firm posted $4.88 earnings per share. The company's revenue was up 15.9% compared to the same quarter last year. Analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

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.