Vestmark Advisory Solutions Inc. Has $12.12 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Netflix by 82.4%, owning nearly 13,000 shares valued at over $12 million as of the last quarter.
• Several analysts issued positive ratings for Netflix, with price targets ranging from $1,000.00 to $1,500.00, contributing to a consensus rating of "Moderate Buy."
• Insider transactions included significant stock sales by Director Jay C. Hoag and CFO Spencer Adam Neumann, totaling over $43 million in combined share sales recently.

Vestmark Advisory Solutions Inc. raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 82.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,998 shares of the Internet television network's stock after purchasing an additional 5,872 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Netflix were worth $12,121,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NFLX. Brighton Jones LLC lifted its holdings in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after purchasing an additional 144 shares during the period. BIP Wealth LLC increased its position in shares of Netflix by 23.8% during the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after acquiring an additional 87 shares during the last quarter. Acorns Advisers LLC increased its position in shares of Netflix by 3.9% during the fourth quarter. Acorns Advisers LLC now owns 583 shares of the Internet television network's stock valued at $520,000 after acquiring an additional 22 shares during the last quarter. Finally, Stenger Family Office LLC acquired a new position in shares of Netflix in the fourth quarter valued at approximately $3,897,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NFLX shares. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Phillip Securities cut shares of Netflix from a "hold" rating to a "strong sell" rating in a report on Monday, July 21st. TD Cowen boosted their price target on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wedbush reiterated an "outperform" rating and set a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $1,500.00 price target on shares of Netflix in a report on Friday, July 18th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Trading Up 0.7%

NASDAQ:NFLX traded up $8.39 during mid-day trading on Friday, hitting $1,238.95. The company had a trading volume of 2,766,194 shares, compared to its average volume of 3,760,348. Netflix, Inc. has a fifty-two week low of $660.80 and a fifty-two week high of $1,341.15. The business's fifty day moving average is $1,231.28 and its two-hundred day moving average is $1,100.31. 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 $526.47 billion, a P/E ratio of 52.79, a P/E/G ratio of 2.07 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 42.50% and a net margin of 24.58%. Netflix's revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.88 earnings per share. As a group, research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, CEO Theodore A. Sarandos sold 2,026 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the transaction, the chief executive officer directly owned 15,168 shares in the company, valued at $17,604,284.16. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 424 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider owned 31,610 shares of the company's stock, valued at approximately $36,625,558.70. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,307 shares of company stock worth $179,443,809 in the last 90 days. Company insiders own 1.37% of the company's stock.

About Netflix

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.