TD Asset Management Inc Has $736.90 Million Stock Position in Netflix, Inc. $NFLX

Key Points

• TD Asset Management Inc reduced its stake in Netflix by 4.5% in Q2 2023, owning approximately $736.90 million worth of shares after selling over 25,000 shares.
• Multiple other institutional investors, including Resurgent Financial Advisors LLC and BNP Paribas Asset Management, have significantly increased their stakes in Netflix, reflecting a trend of heavy institutional investment in the stock.
• Netflix's stock is currently rated as a "Moderate Buy" with a consensus target price of $1,337.63, while recent earnings surpassed analysts' expectations, indicating strong performance in the streaming market.

TD Asset Management Inc trimmed its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 550,283 shares of the Internet television network's stock after selling 25,726 shares during the quarter. TD Asset Management Inc owned approximately 0.13% of Netflix worth $736,900,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. Resurgent Financial Advisors LLC boosted its holdings in Netflix by 234.4% during the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after buying an additional 708 shares during the last quarter. MRA Advisory Group lifted its holdings in shares of Netflix by 28.4% during the 2nd quarter. MRA Advisory Group now owns 919 shares of the Internet television network's stock valued at $1,231,000 after purchasing an additional 203 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Netflix by 42.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 441,861 shares of the Internet television network's stock valued at $412,059,000 after purchasing an additional 130,946 shares in the last quarter. Sava Infond d.o.o. lifted its holdings in shares of Netflix by 25.1% during the 2nd quarter. Sava Infond d.o.o. now owns 1,495 shares of the Internet television network's stock valued at $2,002,000 after purchasing an additional 300 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Netflix by 1.4% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 989 shares of the Internet television network's stock valued at $1,324,000 after purchasing an additional 14 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NFLX shares. Canaccord Genuity Group reissued a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. UBS Group set a $1,425.00 target price on Netflix in a research report on Tuesday, October 7th. Needham & Company LLC reissued a "buy" rating and issued a $1,500.00 target price on shares of Netflix in a research report on Wednesday, September 10th. TD Cowen dropped their target price on Netflix from $1,450.00 to $1,425.00 and set a "buy" rating on the stock in a research report on Tuesday, October 7th. Finally, Wedbush reissued an "outperform" rating and issued a $1,500.00 target price (up previously from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,337.63.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 42,176 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the completion of the sale, the director directly owned 394 shares in the company, valued at $461,736.48. The trade was a 99.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Cletus R. Willems sold 238 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total value of $274,537.76. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock worth $122,710,980 over the last three months. 1.37% of the stock is currently owned by corporate insiders.

Netflix Stock Down 0.1%

NFLX stock opened at $1,219.03 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $518.00 billion, a PE ratio of 51.94, a PEG ratio of 2.05 and a beta of 1.59. Netflix, Inc. has a 1-year low of $677.88 and a 1-year high of $1,341.15. The business's 50 day simple moving average is $1,211.81 and its 200 day simple moving average is $1,171.80.

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 analysts' consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion for 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%.The firm's revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, research analysts anticipate that Netflix, Inc. will post 24.58 EPS 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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