Keb Asset Management LLC Buys New Stake in Netflix, Inc. (NASDAQ:NFLX)

Keb Asset Management LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 228 shares of the Internet television network’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Swedbank AB boosted its holdings in Netflix by 1.8% during the third quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock worth $329,958,000 after buying an additional 8,024 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Netflix by 13.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after acquiring an additional 198,148 shares in the last quarter. Summit Global Investments grew its position in shares of Netflix by 35.0% during the 3rd quarter. Summit Global Investments now owns 999 shares of the Internet television network’s stock valued at $709,000 after acquiring an additional 259 shares during the period. Leavell Investment Management Inc. increased its stake in shares of Netflix by 11.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 622 shares of the Internet television network’s stock valued at $441,000 after purchasing an additional 63 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in Netflix in the 3rd quarter worth about $1,787,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of Netflix stock opened at $891.11 on Monday. The business’s fifty day simple moving average is $950.26 and its 200-day simple moving average is $842.54. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $381.18 billion, a PE ratio of 44.94, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the firm posted $2.11 earnings per share. Netflix’s revenue was up 16.0% compared to the same quarter last year. Equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the transaction, the chief financial officer now owns 3,691 shares of the company’s stock, valued at approximately $3,624,746.55. This represents a 41.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,103 shares of company stock worth $279,142,041 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and raised their price objective for the company from $680.00 to $1,494.00 in a report on Wednesday, January 22nd. Morgan Stanley lifted their price target on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Citigroup lifted their target price on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Finally, Bank of America upped their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $1,021.70.

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.