Mark Asset Management LP Reduces Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Mark Asset Management LP lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 33.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,406 shares of the Internet television network’s stock after selling 17,111 shares during the period. Netflix comprises about 2.2% of Mark Asset Management LP’s holdings, making the stock its 11th largest position. Mark Asset Management LP’s holdings in Netflix were worth $22,545,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Obermeyer Wood Investment Counsel Lllp increased its stake in Netflix by 2.8% during the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after purchasing an additional 17 shares in the last quarter. Private Portfolio Partners LLC lifted its holdings in Netflix by 1.7% in the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after purchasing an additional 17 shares in the last quarter. FAS Wealth Partners Inc. raised its holdings in Netflix by 1.5% in the 2nd quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock valued at $786,000 after acquiring an additional 17 shares during the last quarter. Clear Point Advisors Inc. lifted its position in Netflix by 3.9% during the second quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock worth $303,000 after buying an additional 17 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Netflix by 4.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock valued at $250,000 after acquiring an additional 18 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Down 1.4 %

NFLX opened at $711.43 on Friday. The company has a market cap of $306.63 billion, a P/E ratio of 49.37, a PEG ratio of 1.44 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $666.77 and its 200-day moving average is $643.21. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $725.26.

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

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $3,184,200.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,490,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,020 shares of company stock worth $133,334,342. 1.76% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research analyst reports. Rosenblatt Securities restated a “neutral” rating and issued a $635.00 target price on shares of Netflix in a research report on Friday, September 20th. Sanford C. Bernstein upped their price objective on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $725.00 target price on shares of Netflix in a report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. Finally, Citigroup raised their price target on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

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.