Martingale Asset Management L P Acquires 16,828 Shares of Netflix, Inc. $NFLX

Key Points

• Martingale Asset Management L P increased its stake in Netflix, Inc. by 399.1% during Q1, acquiring an additional 16,828 shares, bringing their total holdings to 21,045 shares worth approximately $19.6 million.
• The market continues to see movement among institutional investors, with others like Halbert Hargrove Global Advisors and Barnes Dennig Private Wealth Management also increasing or initiating their positions in Netflix.
• Despite recent insider selling activity, with executives reducing their ownership, Netflix's stock remains rated with a majority of "Buy" ratings from analysts, including a recent price target increase by Piper Sandler to $1,500.00.

Martingale Asset Management L P boosted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 399.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,045 shares of the Internet television network's stock after acquiring an additional 16,828 shares during the period. Martingale Asset Management L P's holdings in Netflix were worth $19,625,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC grew its holdings in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new position in shares of Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new stake in shares of Netflix in the 4th quarter worth approximately $32,000. Copia Wealth Management purchased a new stake in shares of Netflix in the 4th quarter worth approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in Netflix during the 1st quarter valued at approximately $42,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 685 shares of Netflix stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the transaction, the chief executive officer directly owned 12,781 shares of the company's stock, valued at $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,307 shares of company stock valued at $179,443,809 in the last three months. 1.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on NFLX. Piper Sandler boosted their target price on Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Wall Street Zen lowered Netflix from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Bank of America raised their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Finally, Rosenblatt Securities upped their target price on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Trading Down 0.0%

Shares of NFLX stock opened at $1,213.86 on Thursday. Netflix, Inc. has a 1 year low of $660.80 and a 1 year high of $1,341.15. The firm has a fifty day moving average price of $1,231.74 and a 200-day moving average price of $1,107.28. The company has a market cap of $515.80 billion, a price-to-earnings ratio of 51.72, a PEG ratio of 2.04 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion during 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%.The business's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.88 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix 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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