Assetmark Inc. Buys 7,220 Shares of Netflix, Inc. (NASDAQ:NFLX)

Assetmark Inc. increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 104.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,124 shares of the Internet television network’s stock after acquiring an additional 7,220 shares during the period. Assetmark Inc.’s holdings in Netflix were worth $6,877,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Authentikos Wealth Advisory LLC bought a new position in shares of Netflix during the third quarter valued at approximately $25,000. Spartan Planning & Wealth Management bought a new position in shares of Netflix during the third quarter valued at approximately $26,000. Blue Bell Private Wealth Management LLC increased its stake in shares of Netflix by 89.7% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock valued at $36,000 after purchasing an additional 35 shares in the last quarter. Pacifica Partners Inc. bought a new position in shares of Netflix during the fourth quarter valued at approximately $41,000. Finally, Bear Mountain Capital Inc. bought a new position in shares of Netflix during the fourth quarter valued at approximately $45,000. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 564 shares of Netflix stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Netflix news, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 268 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,039 shares of company stock valued at $46,401,083. Company insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of a number of analyst reports. Seaport Res Ptn downgraded shares of Netflix from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 30th. Canaccord Genuity Group reissued a “hold” rating and set a $585.00 price target (down previously from $720.00) on shares of Netflix in a research report on Friday, April 19th. Bank of America raised their price target on shares of Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Rosenblatt Securities raised their target price on shares of Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Finally, Barclays raised their target price on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $630.53.

Netflix Stock Performance

Netflix stock opened at $642.91 on Thursday. The company’s 50-day moving average price is $606.33 and its 200-day moving average price is $546.83. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $650.88. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market cap of $277.09 billion, a PE ratio of 44.45, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same period in the previous year, the firm posted $2.88 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities research analysts forecast that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

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.