Dock Street Asset Management Inc. Purchases 1,110 Shares of Netflix, Inc. $NFLX

Key Points

• Dock Street Asset Management Inc. increased its position in Netflix, Inc. by 4.8% during the second quarter, acquiring an additional 1,110 shares, bringing its total holdings to 24,327 shares worth approximately $32.6 million.
• Netflix reported earnings of $7.19 per share for the last quarter, exceeding analysts' expectations and showing a revenue increase of 15.9% year-over-year.
• Multiple hedge funds have adjusted their stakes in Netflix, with notable increases from IFG Advisors LLC and Ritholtz Wealth Management, reflecting growing institutional confidence as over 80% of the company's stock is held by institutional investors.

Dock Street Asset Management Inc. grew its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,327 shares of the Internet television network's stock after purchasing an additional 1,110 shares during the quarter. Netflix comprises approximately 3.1% of Dock Street Asset Management Inc.'s investment portfolio, making the stock its 13th largest position. Dock Street Asset Management Inc.'s holdings in Netflix were worth $32,577,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. IFG Advisors LLC raised its holdings in Netflix by 80.9% during the 2nd quarter. IFG Advisors LLC now owns 577 shares of the Internet television network's stock worth $773,000 after purchasing an additional 258 shares during the last quarter. Mutual Advisors LLC raised its holdings in Netflix by 0.8% during the 2nd quarter. Mutual Advisors LLC now owns 14,498 shares of the Internet television network's stock worth $19,415,000 after purchasing an additional 115 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Netflix by 19.1% during the 2nd quarter. Ritholtz Wealth Management now owns 8,754 shares of the Internet television network's stock worth $11,722,000 after purchasing an additional 1,403 shares during the last quarter. Delap Wealth Advisory LLC bought a new position in Netflix during the 2nd quarter worth approximately $268,000. Finally, Curated Wealth Partners LLC raised its holdings in Netflix by 29.3% during the 2nd quarter. Curated Wealth Partners LLC now owns 653 shares of the Internet television network's stock worth $874,000 after purchasing an additional 148 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

NASDAQ NFLX opened at $1,215.35 on Wednesday. The company has a fifty day simple moving average of $1,213.15 and a 200 day simple moving average of $1,172.10. Netflix, Inc. has a 12-month low of $677.88 and a 12-month high of $1,341.15. 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 company has a market cap of $516.43 billion, a P/E ratio of 51.78, a PEG ratio of 2.05 and a beta of 1.59.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on NFLX. Itau BBA Securities began coverage on shares of Netflix in a research note on Tuesday, October 7th. They issued an "outperform" rating and a $1,514.00 price objective for the company. Seaport Res Ptn upgraded shares of Netflix from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Citigroup reiterated a "neutral" rating and issued a $1,295.00 price objective (up previously from $1,280.00) on shares of Netflix in a research note on Friday, October 3rd. Wall Street Zen lowered shares of Netflix from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $1,500.00 price objective on shares of Netflix in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,337.63.

Insiders Place Their Bets

In other Netflix news, Director Reed Hastings sold 42,176 shares of Netflix stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the transaction, the director directly owned 394 shares of the company's stock, valued at $461,736.48. The trade was a 99.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cletus R. Willems sold 238 shares of Netflix stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total transaction of $274,537.76. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock worth $122,710,980 in the last quarter. Insiders own 1.37% of the company's stock.

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.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.