Netflix, Inc. (NASDAQ:NFLX) is Zevenbergen Capital Investments LLC's 9th Largest Position

Key Points

• Zevenbergen Capital Investments LLC has reduced its stake in Netflix by 2.3%, now holding 136,923 shares worth approximately $127.7 million, making Netflix its 9th largest investment.
• Several major investors, including Vanguard Group and Goldman Sachs Group, have increased their positions in Netflix, which suggests growing confidence in the company's prospects.
• Analysts have an overall positive outlook on Netflix with a consensus rating of "Moderate Buy" and a target price of $1,297.66, while the stock was recently trading at $1,211.64.

Zevenbergen Capital Investments LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,923 shares of the Internet television network's stock after selling 3,170 shares during the quarter. Netflix accounts for approximately 3.1% of Zevenbergen Capital Investments LLC's investment portfolio, making the stock its 9th biggest holding. Zevenbergen Capital Investments LLC's holdings in Netflix were worth $127,685,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after buying an additional 8,827,662 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of 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 last quarter. Northern Trust Corp grew its position in 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 buying an additional 570,674 shares in the last quarter. Vanguard Group Inc. grew its position in Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after buying an additional 509,255 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Netflix by 935.7% during 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 in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Stock Performance

Shares of Netflix stock traded up $31.27 during mid-day trading on Friday, hitting $1,211.64. 3,811,512 shares of the stock were exchanged, compared to its average volume of 3,954,067. Netflix, Inc. has a 12 month low of $622.99 and a 12 month high of $1,341.15. The company has a 50-day simple moving average of $1,232.25 and a 200 day simple moving average of $1,095.21. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $514.86 billion, a P/E ratio of 51.63, a P/E/G ratio of 2.04 and a beta of 1.59.

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

Insider Buying and Selling

In related news, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the sale, the chief executive officer owned 15,168 shares of the company's stock, valued at approximately $17,604,284.16. The trade was a 11.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 685 shares of Netflix 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 transaction of $795,428.85. Following the completion of the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,286,026.11. This trade represents a 15.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,226 shares of company stock worth $183,849,784 in the last three months. Insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Wells Fargo & Company increased their price target on Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. BMO Capital Markets restated an "outperform" rating and set a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Macquarie upped their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Finally, Evercore ISI restated an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

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.