Everstar Asset Management LLC Buys New Shares in Netflix, Inc. $NFLX

Key Points

• Everstar Asset Management LLC has acquired a new stake in Netflix, Inc., purchasing 92,679 shares valued at approximately $86.4 million, making it Netflix's largest holding for Everstar.
• In recent months, several institutional investors have increased or initiated their positions in Netflix, contributing to a total of 80.93% of the stock being owned by institutional investors and hedge funds.
• Netflix's CFO recently sold 2,600 shares of the company's stock, resulting in a 41.33% decrease in their position, while insiders collectively sold 89,348 shares worth over $109 million in the past three months.

Everstar Asset Management LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 92,679 shares of the Internet television network's stock, valued at approximately $86,426,000. Netflix accounts for about 16.3% of Everstar Asset Management LLC's portfolio, making the stock its biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Challenger Wealth Management acquired a new position in Netflix in the 1st quarter worth about $205,000. Kestra Investment Management LLC grew its stake in Netflix by 142.6% in the 1st quarter. Kestra Investment Management LLC now owns 4,059 shares of the Internet television network's stock valued at $3,785,000 after acquiring an additional 2,386 shares during the period. Temasek Holdings Private Ltd grew its stake in Netflix by 113.2% in the 1st quarter. Temasek Holdings Private Ltd now owns 48,563 shares of the Internet television network's stock valued at $45,286,000 after acquiring an additional 25,781 shares during the period. Teewinot Capital Advisers L.L.C. grew its stake in Netflix by 3.3% in the 1st quarter. Teewinot Capital Advisers L.L.C. now owns 82,286 shares of the Internet television network's stock valued at $76,734,000 after acquiring an additional 2,667 shares during the period. Finally, ThornTree Capital Partners LP grew its stake in Netflix by 381.3% in the 1st quarter. ThornTree Capital Partners LP now owns 30,081 shares of the Internet television network's stock valued at $28,051,000 after acquiring an additional 40,776 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein lifted 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 note on Thursday, July 17th. TD Cowen increased their target price on Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a report on Friday, July 18th. Rosenblatt Securities increased their price objective on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Seaport Res Ptn lowered Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. Finally, Bank of America increased their price objective on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. One equities research 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,317.58.

Insider Transactions at Netflix

In related news, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction 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 transaction, the chief executive officer directly owned 15,168 shares in the company, valued at approximately $17,604,284.16. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,290,418.40. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,348 shares of company stock valued at $109,498,489. 1.37% of the stock is owned by insiders.

Netflix Trading Down 1.2%

NASDAQ NFLX traded down $15.54 during trading on Wednesday, hitting $1,247.71. The stock had a trading volume of 2,525,761 shares, compared to its average volume of 4,009,064. The company has a market capitalization of $530.19 billion, a PE ratio of 53.16, a PEG ratio of 2.10 and a beta of 1.60. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average price of $1,222.86 and a 200 day moving average price of $1,127.68. Netflix, Inc. has a twelve month low of $660.80 and a twelve month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results 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 company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.Netflix's revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.