SEB Asset Management AB Makes New $99.43 Million Investment in Netflix, Inc. $NFLX

SEB Asset Management AB bought a new position in Netflix, Inc. (NASDAQ:NFLXFree Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,034,129 shares of the Internet television network’s stock, valued at approximately $99,431,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Imprint Wealth LLC acquired a new stake in Netflix in the third quarter valued at about $25,000. Wealth Watch Advisors INC purchased a new stake in Netflix in the 3rd quarter valued at approximately $103,000. Strategic Wealth Investment Group LLC acquired a new position in Netflix during the 2nd quarter worth approximately $121,000. Wiser Advisor Group LLC acquired a new position in Netflix during the 3rd quarter worth approximately $114,000. Finally, Beaird Harris Wealth Management LLC raised its stake in shares of Netflix by 9.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock worth $137,000 after buying an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $68.95 on Friday. The firm has a 50 day moving average of $80.15 and a 200-day moving average of $86.90. The company has a market cap of $290.33 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 0.88 and a beta of 1.52. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.43. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $126.71.

Netflix (NASDAQ:NFLXGet Free Report) last released its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Netflix had a return on equity of 40.83% and a net margin of 28.22%.The business had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The company’s revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts expect that Netflix, Inc. will post 3.6 EPS for the current fiscal year.

More Netflix News

Here are the key news stories impacting Netflix this week:

Insider Activity at Netflix

In other news, Director Reed Hastings sold 386,700 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $85.97, for a total value of $33,244,599.00. Following the completion of the transaction, the director owned 3,940 shares in the company, valued at $338,721.80. This trade represents a 98.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Adam Neumann sold 9,253 shares of Netflix stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $88.95, for a total transaction of $823,054.35. Following the transaction, the chief financial officer owned 73,787 shares of the company’s stock, valued at approximately $6,563,353.65. The trade was a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 899,839 shares of company stock valued at $80,141,661 in the last 90 days. 1.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on NFLX shares. Jefferies Financial Group reduced their price target on Netflix from $128.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, June 10th. Raymond James Financial reaffirmed a “market perform” rating on shares of Netflix in a report on Thursday, May 14th. Oppenheimer set a $85.00 price objective on Netflix in a research report on Friday. Piper Sandler reissued an “overweight” rating and issued a $85.00 target price (down from $115.00) on shares of Netflix in a report on Friday. Finally, HSBC boosted their target price on shares of Netflix from $106.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $103.97.

View Our Latest Research Report on NFLX

About Netflix

(Free Report)

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

See Also

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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