Benchstone Capital Management LP Acquires Shares of 64,520 Netflix, Inc. $NFLX

Key Points

• Benchstone Capital Management LP acquired 64,520 shares of Netflix, valued at approximately $60.17 million, making it Netflix's largest holding in their portfolio.
• Netflix's stock is currently priced at $1,208.25, representing a 1.9% decrease in value, with a market cap of $513.42 billion.
• Following their recent earnings report, Netflix beat estimates with $7.19 earnings per share and a 15.9% year-over-year revenue increase to $11.08 billion.

Benchstone Capital Management LP purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 64,520 shares of the Internet television network's stock, valued at approximately $60,167,000. Netflix accounts for approximately 6.4% of Benchstone Capital Management LP's investment portfolio, making the stock its biggest holding.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 purchasing an additional 509,255 shares during the period. Price T Rowe Associates Inc. MD lifted its position 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 in the last quarter. GAMMA Investing LLC lifted its position 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 in the last quarter. Invesco Ltd. lifted its position 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 in the last quarter. Finally, Wellington Management Group LLP lifted its position 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 in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded up $12.07 during trading on Wednesday, hitting $1,226.18. The stock had a trading volume of 2,464,163 shares, compared to its average volume of 4,060,054. The stock has a market capitalization of $521.04 billion, a price-to-earnings ratio of 52.24, a price-to-earnings-growth 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 stock has a 50-day simple moving average of $1,228.91 and a two-hundred day simple moving average of $1,120.25. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the previous year, the company posted $4.88 earnings per share. 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. On average, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 685 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,286,026.11. This represents a 15.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 owned 15,168 shares in the company, valued at approximately $17,604,284.16. This represents a 11.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,629 shares of company stock worth $116,131,982. Corporate insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Netflix in a research report on Tuesday, August 12th. Zacks Research cut Netflix from a "strong-buy" rating to a "hold" rating in a report on Monday. 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 report on Friday, July 18th. Finally, Loop Capital reissued a "hold" rating on shares of Netflix in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

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.