Todd Asset Management LLC Has $27.39 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Todd Asset Management LLC decreased its stake in Netflix by 10.1%, selling 3,317 shares and holding 29,374 shares valued at approximately $27.39 million.
• Netflix reported $7.19 earnings per share for the last quarter, surpassing analysts' expectations of $7.07, with a revenue increase of 15.9% year-over-year.
• The stock received multiple price target upgrades, with Bank of America raising its target from $1,175 to $1,490 and Guggenheim increasing its target from $1,100 to $1,150.

Todd Asset Management LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 10.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,374 shares of the Internet television network's stock after selling 3,317 shares during the period. Todd Asset Management LLC's holdings in Netflix were worth $27,392,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NFLX. Brighton Jones LLC raised its holdings in shares of Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after buying an additional 257 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after buying an additional 144 shares in the last quarter. BIP Wealth LLC raised its holdings in shares of Netflix by 23.8% in the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after buying an additional 87 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new position in shares of Netflix in the 4th quarter worth approximately $3,747,000. Finally, Seeds Investor LLC increased its holdings in Netflix by 6.4% during the 4th quarter. Seeds Investor LLC now owns 801 shares of the Internet television network's stock valued at $714,000 after purchasing an additional 48 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of Netflix stock opened at $1,211.64 on Monday. The company has a market capitalization of $514.86 billion, a PE ratio of 51.63, a PEG ratio of 2.04 and a beta of 1.59. Netflix, Inc. has a 12 month low of $622.99 and a 12 month high of $1,341.15. 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 stock's fifty day simple moving average is $1,232.25 and its 200 day simple moving average is $1,095.21.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $11.04 billion. During the same quarter last year, the business posted $4.88 EPS. The company's revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NFLX. Benchmark reaffirmed a "hold" rating on shares of Netflix in a report on Monday, April 21st. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Wedbush reaffirmed an "outperform" rating and set a $1,500.00 price target (up from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Bank of America raised their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, Guggenheim reaffirmed a "buy" rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Insider Transactions at Netflix

In other Netflix news, insider Cletus R. Willems sold 238 shares of Netflix stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total value of $274,537.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 424 shares of Netflix stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the sale, the insider directly owned 31,610 shares in the company, valued at $36,625,558.70. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,307 shares of company stock worth $179,443,809. 1.37% of the stock is currently owned by company insiders.

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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