TD Asset Management Inc Boosts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• TD Asset Management Inc has increased its stake in Netflix, Inc. by 0.1%, now holding a total of 576,009 shares valued at approximately $537 million.
• Insider transactions revealed significant sales, with Director Jay C. Hoag selling over 32,000 shares and CFO Spencer Adam Neumann selling 2,601 shares, resulting in a significant drop in their holdings.
• Netflix recently reported earnings of $7.19 per share, exceeding expectations, and has a market cap of $501.63 billion, showcasing a 15.9% revenue increase year-over-year.

TD Asset Management Inc grew its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 576,009 shares of the Internet television network's stock after purchasing an additional 642 shares during the quarter. TD Asset Management Inc owned about 0.14% of Netflix worth $537,146,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NFLX. Resurgent Financial Advisors LLC lifted its stake in shares of Netflix by 234.4% in 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 during the last quarter. Janus Henderson Group PLC boosted its stake in 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 purchasing an additional 110,432 shares during the last quarter. PharVision Advisers LLC acquired a new position in Netflix during the 4th quarter valued at about $873,000. New England Research & Management Inc. boosted its stake in Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after purchasing an additional 1,268 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Netflix by 6.1% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after purchasing an additional 3,137 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 32,515 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the transaction, the director directly owned 79,040 shares of the company's stock, valued at $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the sale, the director owned 7,969 shares of the company's stock, valued at approximately $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,923 shares of company stock valued at $222,445,095. Company insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

NFLX has been the topic of several recent analyst reports. Jefferies Financial Group set a $1,500.00 target price on shares of Netflix and gave the stock a "buy" rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of Netflix from a "hold" rating to a "buy" rating in a research note on Saturday. Macquarie lifted their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. TD Cowen boosted their price target on shares of Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Seaport Res Ptn lowered shares of Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Stock Performance

Shares of NASDAQ NFLX traded down $0.27 during mid-day trading on Friday, hitting $1,180.49. 2,624,404 shares of the company were exchanged, compared to its average volume of 3,928,007. The stock 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 1-year low of $587.04 and a 1-year high of $1,341.15. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market cap of $501.63 billion, a price-to-earnings ratio of 50.30, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the company posted $4.88 earnings per share. Netflix's quarterly revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.