Assenagon Asset Management S.A. Lowers Stock Position in Netflix, Inc. $NFLX

Key Points

• Assenagon Asset Management S.A. reduced its stake in Netflix by 7.2%, now holding approximately $598.48 million in the stock, which constitutes about 0.9% of its overall portfolio.
• Several hedge funds increased their positions in Netflix, with Resurgent Financial Advisors raising its stake by 234.4% and BNP PARIBAS ASSET MANAGEMENT increasing theirs by 42.1%.
• Netflix recently reported a quarterly profit of $7.19 EPS, surpassing expectations and generating a revenue of $11.08 billion, marking a year-over-year increase of 15.9%.

Assenagon Asset Management S.A. lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 446,916 shares of the Internet television network's stock after selling 34,915 shares during the quarter. Netflix accounts for approximately 0.9% of Assenagon Asset Management S.A.'s portfolio, making the stock its 19th largest position. Assenagon Asset Management S.A. owned about 0.11% of Netflix worth $598,479,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC boosted its holdings in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares during the last quarter. Copia Wealth Management bought a new stake in shares of Netflix during the fourth quarter valued at about $37,000. Flaharty Asset Management LLC bought a new stake in shares of Netflix during the first quarter valued at about $37,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Netflix during the first quarter valued at about $42,000. Finally, 1248 Management LLC bought a new position in shares of Netflix in the first quarter worth approximately $43,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on NFLX. KeyCorp upped their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Loop Capital upgraded shares of Netflix from a "hold" rating to a "buy" rating and upped their price objective for the stock from $1,150.00 to $1,350.00 in a research report on Wednesday, September 17th. Sanford C. Bernstein increased their price target on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Finally, Citigroup restated a "neutral" rating and issued a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,328.87.

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 2,600 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $1,207.76, for a total transaction of $3,140,176.00. Following the completion of the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,457,842.16. The trade was a 41.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 424 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the sale, the insider owned 31,610 shares of the company's stock, valued at approximately $36,625,558.70. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,348 shares of company stock worth $109,498,489 in the last three months. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Performance

NASDAQ NFLX traded down $13.30 during trading hours on Tuesday, hitting $1,214.07. The company's stock had a trading volume of 922,857 shares, compared to its average volume of 3,977,986. Netflix, Inc. has a 12 month low of $677.88 and a 12 month high of $1,341.15. The company's 50 day simple moving average is $1,211.80 and its two-hundred day simple moving average is $1,144.65. The company has a market cap of $515.89 billion, a P/E ratio of 51.79, a price-to-earnings-growth ratio of 2.07 and a beta of 1.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data 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 return on equity of 42.50% and a net margin of 24.58%.The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period last year, the company earned $4.88 EPS. Netflix's revenue for the quarter was up 15.9% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.