Wellington Management Group LLP Raises Holdings in Netflix, Inc. $NFLX

Key Points

• Wellington Management Group LLP increased its stake in Netflix, Inc. by 3.5%, now holding approximately 4.4 million shares valued at over $4 billion, representing 0.8% of its investment portfolio.
• A variety of analysts have recently issued ratings changes for Netflix, with UBS maintaining a "market underperform" rating and Wells Fargo raising its target price to $1,560.00 while giving an "overweight" rating.
• Netflix reported a $7.19 EPS for the last quarter, exceeding expectations, with a year-on-year revenue increase of 15.9%, underscoring strong financial performance amidst market fluctuations.

Wellington Management Group LLP raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,385,666 shares of the Internet television network's stock after buying an additional 148,675 shares during the quarter. Netflix makes up approximately 0.8% of Wellington Management Group LLP's investment portfolio, making the stock its 16th largest position. Wellington Management Group LLP owned about 1.03% of Netflix worth $4,089,765,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC grew its stake 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 buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd acquired a new position in shares of Netflix during the fourth quarter worth about $27,000. Transce3nd LLC purchased a new position in Netflix in the fourth quarter valued at about $32,000. Copia Wealth Management acquired a new stake in Netflix during the fourth quarter valued at approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in Netflix in the 1st quarter worth approximately $42,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on NFLX. UBS Group reiterated a "market underperform" rating on shares of Netflix in a research note on Saturday, July 19th. Wedbush restated an "outperform" rating and set a $1,500.00 target price (up from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Citigroup restated a "neutral" rating and set a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, Wells Fargo & Company raised their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Three investment 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 issued a strong buy rating to the company. According to data from MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Trading Up 0.7%

Shares of NASDAQ:NFLX opened at $1,238.95 on Monday. The business's 50 day simple moving average is $1,231.23 and its 200 day simple moving average is $1,103.91. 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 1 year low of $660.80 and a 1 year high of $1,341.15. The company has a market capitalization of $526.46 billion, a P/E ratio of 52.79, a P/E/G ratio of 2.09 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, beating 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 company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period last year, the business posted $4.88 EPS. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Reed Hastings sold 26,933 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the completion of the sale, the director directly owned 394 shares of the company's stock, valued at $477,394.04. The trade was a 98.56% decrease in their ownership of the stock. 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 on Thursday, June 5th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,307 shares of company stock valued at $179,443,809 over the last 90 days. 1.37% of the stock is currently owned by corporate insiders.

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.

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