AlTi Global Inc. Has $1.09 Million Position in Netflix, Inc. (NASDAQ:NFLX)

AlTi Global Inc. lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,608 shares of the Internet television network’s stock after selling 38 shares during the period. AlTi Global Inc.’s holdings in Netflix were worth $1,085,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NFLX. Obermeyer Wood Investment Counsel Lllp grew its position in shares of Netflix by 2.8% in the first 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 during the last quarter. Private Portfolio Partners LLC grew 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 buying an additional 17 shares in the last quarter. FAS Wealth Partners Inc. increased its position in Netflix by 1.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock worth $786,000 after buying an additional 17 shares during the period. Clear Point Advisors Inc. lifted its holdings in shares of 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% in the first 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 period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Down 0.1 %

NASDAQ:NFLX opened at $721.56 on Thursday. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $725.12. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s fifty day moving average is $665.29 and its 200-day moving average is $642.66. The firm has a market cap of $310.99 billion, a P/E ratio of 50.07, a P/E/G ratio of 1.44 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued 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 during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business posted $3.29 EPS. Equities analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 20,656 shares of the company’s 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 transaction, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 197,226 shares of company stock worth $129,858,692. 1.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on NFLX. Argus lifted their price objective on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group lifted their price target on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price target on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Piper Sandler increased their target price on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $685.29.

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.