Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Mark Asset Management LP

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Mark Asset Management LP cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,406 shares of the Internet television network’s stock after selling 2,543 shares during the period. Netflix makes up about 2.4% of Mark Asset Management LP’s holdings, making the stock its 13th biggest position. Mark Asset Management LP’s holdings in Netflix were worth $12,926,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. BKD Wealth Advisors LLC raised its position in shares of Netflix by 14.6% during the second quarter. BKD Wealth Advisors LLC now owns 1,217 shares of the Internet television network’s stock worth $554,000 after purchasing an additional 155 shares during the period. Chesley Taft & Associates LLC acquired a new stake in shares of Netflix during the second quarter worth $219,000. TCI Wealth Advisors Inc. raised its position in shares of Netflix by 24.1% during the second quarter. TCI Wealth Advisors Inc. now owns 170 shares of the Internet television network’s stock worth $77,000 after purchasing an additional 33 shares during the period. GWM Advisors LLC raised its position in shares of Netflix by 43.0% during the second quarter. GWM Advisors LLC now owns 4,711 shares of the Internet television network’s stock worth $2,143,000 after purchasing an additional 1,416 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Netflix by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 78,336 shares of the Internet television network’s stock worth $35,646,000 after purchasing an additional 1,814 shares during the period. 80.63% of the stock is currently owned by institutional investors.

NASDAQ:NFLX traded down $9.70 during mid-day trading on Friday, hitting $516.05. 8,260,064 shares of the company’s stock traded hands, compared to its average volume of 6,064,160. The firm has a 50 day moving average of $498.83 and a two-hundred day moving average of $433.56. Netflix, Inc. has a 12 month low of $252.28 and a 12 month high of $575.37. The firm has a market capitalization of $227.59 billion, a price-to-earnings ratio of 87.02, a price-to-earnings-growth ratio of 2.74 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.64.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 16th. The Internet television network reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.22). The business had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.08 billion. Netflix had a net margin of 11.85% and a return on equity of 33.32%. During the same quarter in the previous year, the company earned $0.60 EPS. As a group, equities research analysts expect that Netflix, Inc. will post 6.28 earnings per share for the current year.

Several research analysts recently weighed in on the company. Societe Generale reissued a “sell” rating and set a $270.00 price target on shares of Netflix in a research report on Tuesday, July 21st. Pivotal Research reissued a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Netflix in a research report on Friday, July 17th. Piper Sandler upped their price target on Netflix from $500.00 to $534.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Monness Crespi & Hardt upped their price target on Netflix from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, Needham & Company LLC reissued a “sell” rating on shares of Netflix in a research report on Friday, July 17th. Six equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $486.49.

In other Netflix news, CEO Reed Hastings sold 57,260 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $462.40, for a total value of $26,477,024.00. Following the completion of the transaction, the chief executive officer now owns 57,260 shares of the company’s stock, valued at approximately $26,477,024. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard N. Barton sold 4,907 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $550.00, for a total value of $2,698,850.00. Following the completion of the transaction, the director now directly owns 8,237 shares of the company’s stock, valued at approximately $4,530,350. The disclosure for this sale can be found here. In the last ninety days, insiders sold 248,524 shares of company stock valued at $121,935,040. Insiders own 3.40% of the company’s stock.

Netflix Profile

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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