Frank Rimerman Advisors LLC Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Frank Rimerman Advisors LLC increased its holdings in Netflix (NASDAQ:NFLX) by 0.4%, owning a total of 58,596 shares valued at approximately $54.6 million.
• Netflix reported earnings per share (EPS) of $7.19 for its latest quarter, surpassing analysts' expectations, with a revenue of $11.08 billion, showing a year-over-year increase of 15.9%.
• Insider trading activity saw CEO Theodore Sarandos sell 2,026 shares and CFO Spencer Neumann sell 685 shares, indicating a decrease in their ownership stakes in the company.

Frank Rimerman Advisors LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,596 shares of the Internet television network's stock after acquiring an additional 222 shares during the period. Netflix makes up about 4.3% of Frank Rimerman Advisors LLC's investment portfolio, making the stock its 4th largest position. Frank Rimerman Advisors LLC's holdings in Netflix were worth $54,643,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Koss Olinger Consulting LLC acquired a new position in Netflix during the first quarter worth about $1,878,000. Cynosure Group LLC increased its stake in Netflix by 41.4% in the 1st quarter. Cynosure Group LLC now owns 1,250 shares of the Internet television network's stock worth $1,166,000 after purchasing an additional 366 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in Netflix in the 1st quarter worth about $12,921,000. Founders Financial Alliance LLC increased its stake in Netflix by 91.6% in the 1st quarter. Founders Financial Alliance LLC now owns 912 shares of the Internet television network's stock worth $850,000 after purchasing an additional 436 shares in the last quarter. Finally, Truepoint Inc. increased its stake in Netflix by 5.7% in the 1st quarter. Truepoint Inc. now owns 240 shares of the Internet television network's stock worth $224,000 after purchasing an additional 13 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

NFLX opened at $1,211.64 on Friday. The stock has a market cap of $514.86 billion, a PE ratio of 51.63, a P/E/G ratio of 1.99 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 1 year low of $622.99 and a 1 year high of $1,341.15. The stock's 50 day simple moving average is $1,232.25 and its 200-day simple moving average is $1,093.48.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $11.08 billion for the quarter, compared to analysts' expectations 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 business posted $4.88 earnings per share. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NFLX shares. Wall Street Zen cut Netflix from a "buy" rating to a "hold" rating in a research note on Saturday. Oppenheimer raised their price objective on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Benchmark restated a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Pivotal Research restated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. raised their price objective on Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 2,026 shares of the company's 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 sale, the chief executive officer directly owned 15,168 shares in the company, valued at $17,604,284.16. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 685 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were 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 owned 3,691 shares in the company, valued at $4,286,026.11. This trade represents a 15.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 150,226 shares of company stock valued at $183,849,784 in the last quarter. 1.37% of the stock is currently owned by corporate insiders.

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.

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