Netflix, Inc. (NASDAQ:NFLX) Stake Increased by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 43.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,513 shares of the Internet television network’s stock after buying an additional 3,788 shares during the period. Netflix comprises approximately 1.7% of EFG Asset Management Americas Corp.’s portfolio, making the stock its 14th biggest position. EFG Asset Management Americas Corp.’s holdings in Netflix were worth $8,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NFLX. Denver PWM LLC acquired a new stake in Netflix during the 2nd quarter worth about $25,000. Valued Wealth Advisors LLC lifted its position in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares in the last quarter. Proffitt & Goodson Inc. boosted its holdings in shares of Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the period. AlphaMark Advisors LLC grew its position in Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. Finally, Indiana Trust & Investment Management CO increased its stake in Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock traded down $17.85 during mid-day trading on Friday, reaching $665.77. The stock had a trading volume of 2,991,265 shares, compared to its average volume of 3,796,436. The firm has a market cap of $286.95 billion, a PE ratio of 46.20, a P/E/G ratio of 1.44 and a beta of 1.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a one year low of $344.73 and a one year high of $711.33. The firm’s 50 day simple moving average is $659.89 and its 200 day simple moving average is $633.82.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.29 earnings per share. On average, analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NFLX shares. Rosenblatt Securities lifted their target price on shares of Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Loop Capital boosted their target price on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Piper Sandler raised their price target on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Sanford C. Bernstein lifted their price target on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Finally, Benchmark increased their price objective on Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at $57,878.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares in the company, valued at $57,878.20. The disclosure for this sale can be found here. Insiders have sold a total of 157,831 shares of company stock valued at $102,721,884 over the last quarter. 1.76% of the stock is owned by company insiders.

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.