Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in Netflix by 7.7%, owning 27,366 shares valued at approximately $25.52 million after purchasing an additional 1,952 shares.
• Multiple large investors, including FMR LLC and GAMMA Investing LLC, have significantly boosted their holdings in Netflix, indicating strong institutional interest in the company.
• Netflix reported earnings of $7.19 per share, exceeding analysts' estimates, with a year-over-year revenue increase of 15.9% to $11.08 billion.

Assetmark Inc. boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,366 shares of the Internet television network's stock after buying an additional 1,952 shares during the quarter. Assetmark Inc.'s holdings in Netflix were worth $25,520,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix during the 4th quarter worth about $27,000. Transce3nd LLC acquired a new position in shares of Netflix during the fourth quarter worth approximately $32,000. Copia Wealth Management acquired a new position in shares of Netflix during the fourth quarter worth approximately $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In related news, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total value of $797,840.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Strive Masiyiwa sold 290 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,923 shares of company stock valued at $222,445,095. 1.37% of the stock is owned by company insiders.

Netflix Stock Performance

Shares of Netflix stock traded down $0.27 during trading on Friday, hitting $1,180.49. 2,624,404 shares of the company's stock were exchanged, compared to its average volume of 3,928,007. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.34. The business has a 50-day simple moving average of $1,236.44 and a 200-day simple moving average of $1,072.76. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The stock has a market capitalization of $501.63 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 1.99 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly 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 firm had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. Netflix's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.88 EPS. On average, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NFLX shares. TD Cowen increased their price objective on shares of Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a report on Friday, July 18th. BMO Capital Markets reissued an "outperform" rating and issued a $1,425.00 target price (up previously from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Needham & Company LLC reiterated a "buy" rating and issued a $1,500.00 price target on shares of Netflix in a research report on Friday, July 18th. Rosenblatt Securities increased their price target on shares of Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Benchmark reiterated a "hold" rating on shares of Netflix in a report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Netflix currently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

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.