Nordea Investment Management AB Acquires 68,461 Shares of Netflix, Inc. $NFLX

Nordea Investment Management AB grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.8% in the second quarter, HoldingsChannel.com reports. The fund owned 945,067 shares of the Internet television network’s stock after purchasing an additional 68,461 shares during the period. Netflix accounts for about 1.2% of Nordea Investment Management AB’s investment portfolio, making the stock its 12th largest holding. Nordea Investment Management AB’s holdings in Netflix were worth $1,256,131,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Stephens Consulting LLC lifted its position in Netflix by 150.0% in the 2nd quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock worth $33,000 after buying an additional 15 shares during the last quarter. Flaharty Asset Management LLC purchased a new position in Netflix in the 1st quarter worth approximately $37,000. Maseco LLP purchased a new position in shares of Netflix during the second quarter valued at approximately $39,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Netflix during the first quarter valued at approximately $42,000. Finally, 1248 Management LLC purchased a new position in shares of Netflix during the first quarter valued at approximately $43,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Down 1.6%

Netflix stock opened at $1,183.59 on Friday. The stock has a market cap of $502.94 billion, a PE ratio of 50.43, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. 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 one year low of $677.88 and a one year high of $1,341.15. The stock has a fifty day moving average of $1,213.72 and a 200 day moving average of $1,174.05.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.88 earnings per share. As a group, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In related news, insider Cletus R. Willems sold 238 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total transaction of $274,537.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,600 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $1,172.51, for a total value of $3,048,526.00. Following the sale, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,327,734.41. This represents a 41.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,100 shares of company stock valued at $122,710,980. 1.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NFLX has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. KeyCorp lifted their price target on Netflix from $1,070.00 to $1,390.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Pivotal Research restated a “buy” rating on shares of Netflix in a research report on Thursday, July 10th. Robert W. Baird boosted their target price on Netflix from $1,300.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $1,425.00 price target (up from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average price target of $1,339.81.

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.