Ardmore Road Asset Management LP Takes $32.64 Million Position in Netflix, Inc. $NFLX

Key Points

• Ardmore Road Asset Management LP acquired 35,000 shares of Netflix, valued at approximately $32.6 million, making Netflix approximately 3.2% of its portfolio.
• Director Jay C. Hoag sold 31,750 shares of Netflix stock in June, resulting in a 33.5% decrease in his holdings.
• Netflix reported a Q2 EPS of $7.19, exceeding estimates, with quarterly revenue of $11.08 billion, representing a 15.9% year-over-year increase.

Ardmore Road Asset Management LP bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 35,000 shares of the Internet television network's stock, valued at approximately $32,639,000. Netflix accounts for 3.2% of Ardmore Road Asset Management LP's holdings, making the stock its 10th biggest position.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Netflix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after buying an additional 509,255 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Netflix by 2.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock valued at $10,940,505,000 after buying an additional 304,399 shares during the period. GAMMA Investing LLC raised its holdings in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after buying an additional 8,827,662 shares during the period. Invesco Ltd. raised its holdings in shares of Netflix by 8.3% during the 1st quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock valued at $4,350,083,000 after buying an additional 356,617 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Netflix by 3.5% during the 1st quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network's stock valued at $4,089,765,000 after buying an additional 148,675 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on NFLX. Wall Street Zen cut Netflix from a "buy" rating to a "hold" rating in a research note on Saturday. Piper Sandler boosted their price target on Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. KeyCorp boosted their price target on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 685 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $1,161.21, for a total value of $795,428.85. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,286,026.11. The trade was a 15.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 15,168 shares of the company's stock, valued at approximately $17,604,284.16. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,163 shares of company stock valued at $151,917,174 over the last 90 days. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Down 1.9%

Netflix stock traded down $23.20 during midday trading on Friday, hitting $1,208.25. The stock had a trading volume of 3,206,585 shares, compared to its average volume of 2,696,834. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market cap of $513.42 billion, a P/E ratio of 51.48, a P/E/G ratio of 2.03 and a beta of 1.60. Netflix, Inc. has a 12 month low of $660.80 and a 12 month high of $1,341.15. The business has a fifty day moving average price of $1,231.11 and a 200 day moving average price of $1,118.55.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.Netflix's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned $4.88 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

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.