Manhattan West Asset Management LLC Has $4.50 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Manhattan West Asset Management LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,825 shares of the Internet television network’s stock after purchasing an additional 531 shares during the period. Netflix accounts for 1.1% of Manhattan West Asset Management LLC’s portfolio, making the stock its 23rd largest holding. Manhattan West Asset Management LLC’s holdings in Netflix were worth $4,499,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of NFLX. Brighton Jones LLC increased its stake in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after purchasing an additional 257 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after buying an additional 144 shares during the period. BIP Wealth LLC boosted its holdings in shares of Netflix by 23.8% during the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network’s stock worth $403,000 after buying an additional 87 shares during the period. Argent Trust Co boosted its holdings in shares of Netflix by 23.7% during the 4th quarter. Argent Trust Co now owns 4,225 shares of the Internet television network’s stock worth $3,766,000 after buying an additional 809 shares during the period. Finally, Tandem Wealth Advisors LLC bought a new stake in shares of Netflix during the 4th quarter worth about $230,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider David A. Hyman sold 424 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the sale, the insider owned 31,610 shares in the company, valued at $36,625,558.70. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 685 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the completion of the sale, the chief financial officer owned 3,691 shares of the company’s stock, valued at approximately $4,286,026.11. This represents a 15.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,226 shares of company stock valued at $183,849,784 over the last 90 days. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Up 2.6%

Shares of NASDAQ NFLX opened at $1,211.64 on Friday. The firm has a market cap of $514.86 billion, a PE ratio of 51.63, a P/E/G ratio of 1.99 and a beta of 1.59. Netflix, Inc. has a 12-month low of $622.99 and a 12-month high of $1,341.15. The company’s fifty day simple moving average is $1,232.25 and its 200 day simple moving average is $1,093.48. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the firm earned $4.88 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. KeyCorp lifted their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Loop Capital reissued a “hold” rating on shares of Netflix in a report on Tuesday, July 15th. Macquarie boosted their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Monday, April 21st. BMO Capital Markets reissued an “outperform” rating and issued a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Finally, Guggenheim reissued a “buy” rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,297.66.

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.