International Assets Investment Management LLC Boosts Stock Position in Netflix, Inc. $NFLX

Key Points

• International Assets Investment Management LLC increased its stake in Netflix by 5.2% during Q2, now holding 8,511 shares valued at approximately $11.4 million.
• Several large institutional investors, including Nuveen LLC and Goldman Sachs, have significantly increased their holdings in Netflix, reflecting growing confidence in the stock.
• Netflix reported earnings of $7.19 per share in its latest quarter, beating estimates and showing a 15.9% increase in revenue compared to last year.

International Assets Investment Management LLC increased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,511 shares of the Internet television network's stock after purchasing an additional 423 shares during the quarter. Netflix accounts for 0.6% of International Assets Investment Management LLC's investment portfolio, making the stock its 29th biggest position. International Assets Investment Management LLC's holdings in Netflix were worth $11,397,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NFLX. Nuveen LLC purchased a new stake in Netflix in the 1st quarter worth approximately $2,385,585,000. Kingstone Capital Partners Texas LLC raised its position in shares of Netflix by 343,058.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network's stock worth $3,299,450,000 after acquiring an additional 2,463,158 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Netflix by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock valued at $3,164,134,000 after buying an additional 1,236,251 shares in the last quarter. Amundi increased its position in Netflix by 37.7% during the 1st quarter. Amundi now owns 2,070,221 shares of the Internet television network's stock valued at $1,898,496,000 after buying an additional 567,251 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in 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 buying an additional 509,255 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

NASDAQ NFLX opened at $1,199.36 on Friday. The company has a market capitalization of $509.64 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The business's fifty day moving average is $1,213.47 and its 200 day moving average is $1,177.58. Netflix, Inc. has a fifty-two week low of $736.23 and a fifty-two week 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 for 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 quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.88 earnings per share. Sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on NFLX. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. TD Cowen cut their target price on Netflix from $1,450.00 to $1,425.00 and set a "buy" rating on the stock in a research note on Tuesday, October 7th. Loop Capital upgraded Netflix from a "hold" rating to a "buy" rating and increased their target price for the company from $1,150.00 to $1,350.00 in a research note on Wednesday, September 17th. Phillip Securities downgraded Netflix from a "hold" rating to a "strong sell" rating in a research note on Monday, July 21st. Finally, The Goldman Sachs Group dropped their price target on Netflix from $1,310.00 to $1,300.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,339.81.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,290,418.40. The trade was a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 424 shares of Netflix stock in a transaction on 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 transaction, the insider owned 31,610 shares in the company, valued at $36,625,558.70. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,100 shares of company stock valued at $122,710,980 in the last ninety days. Corporate 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.

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