Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Manhattan West Asset Management LLC

Key Points

• Manhattan West Asset Management LLC increased its stake in Netflix by 12.4%, now holding 4,825 shares valued at approximately $4.5 million, accounting for 1.1% of its investment portfolio.
• In the 1st quarter, Netflix reported earnings of $7.19 per share, surpassing estimates, and achieved a revenue of $11.08 billion, reflecting a year-over-year increase of 15.9%.
• Netflix's stock currently has an average rating of "Moderate Buy" with a target price of $1,297.66, according to analysts' evaluations.

Manhattan West Asset Management LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,825 shares of the Internet television network's stock after buying an additional 531 shares during the quarter. Netflix accounts for about 1.1% of Manhattan West Asset Management LLC's investment portfolio, making the stock its 23rd largest position. Manhattan West Asset Management LLC's holdings in Netflix were worth $4,499,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC grew its holdings in shares of Netflix by 234.4% during the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock valued at $942,000 after acquiring an additional 708 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after acquiring an additional 110,432 shares in the last quarter. PharVision Advisers LLC purchased a new position in shares of Netflix during the 4th quarter valued at $873,000. New England Research & Management Inc. boosted its holdings in Netflix by 148.5% in the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock worth $1,979,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Netflix by 6.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock worth $50,952,000 after buying an additional 3,137 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Trading Up 2.6%

NFLX opened at $1,211.64 on Friday. The firm's fifty day moving average is $1,232.25 and its two-hundred day moving average is $1,093.48. 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 firm has a market cap of $514.86 billion, a PE ratio of 51.63, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59. Netflix, Inc. has a twelve month low of $622.99 and a twelve month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $4.88 earnings per share. Equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In related news, 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 sale, the chief executive officer directly owned 12,781 shares in the company, valued at $14,793,240.64. This trade represents a 13.68% 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, insider Cletus R. Willems sold 238 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total transaction of $274,537.76. 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 over the last quarter. 1.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on NFLX shares. UBS Group reiterated a "market underperform" rating on shares of Netflix in a research note on Saturday, July 19th. BMO Capital Markets reissued an "outperform" rating and set a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Canaccord Genuity Group reissued a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Evercore ISI reissued an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Finally, Morgan Stanley reissued an "equal weight" rating on shares of Netflix in a research report on Monday, July 21st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,297.66.

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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