Harber Asset Management LLC Invests $3.23 Million in Netflix, Inc. $NFLX

Harber Asset Management LLC purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 45,239 shares of the Internet television network’s stock, valued at approximately $3,230,000. Netflix makes up about 1.9% of Harber Asset Management LLC’s portfolio, making the stock its 28th largest position.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Netflix by 912.5% in the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock worth $36,567,805,000 after purchasing an additional 351,493,659 shares during the last quarter. Shepherd Street Advisors LLC bought a new stake in Netflix during the fourth quarter worth approximately $2,216,000. Morse Asset Management Inc grew its holdings in Netflix by 809.3% during the fourth quarter. Morse Asset Management Inc now owns 64,730 shares of the Internet television network’s stock valued at $6,069,000 after purchasing an additional 57,611 shares during the last quarter. University of Texas Texas AM Investment Management Co. grew its holdings in Netflix by 798.5% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 42,542 shares of the Internet television network’s stock valued at $3,989,000 after purchasing an additional 37,807 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its position in shares of Netflix by 900.0% in the fourth quarter. New Mexico Educational Retirement Board now owns 192,210 shares of the Internet television network’s stock valued at $18,022,000 after purchasing an additional 172,989 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Reed Hastings sold 386,700 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $85.97, for a total value of $33,244,599.00. Following the completion of the transaction, the director directly owned 3,940 shares of the company’s stock, valued at approximately $338,721.80. This represents a 98.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore A. Sarandos sold 105,850 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.03, for a total value of $7,730,225.50. Following the transaction, the chief executive officer owned 206,266 shares of the company’s stock, valued at $15,063,605.98. This trade represents a 33.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 600,295 shares of company stock worth $49,056,671 in the last 90 days. 1.24% of the stock is owned by corporate insiders.

Netflix Stock Performance

NASDAQ NFLX opened at $79.59 on Friday. The stock has a market cap of $331.41 billion, a P/E ratio of 25.05, a PEG ratio of 1.01 and a beta of 1.52. The company’s 50-day simple moving average is $74.39 and its 200 day simple moving average is $84.34. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $126.71. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. As a group, research analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix continues to grow faster than many streaming rivals, and its lower valuation after the selloff could provide significant upside if revenue, advertising and engagement trends remain strong. A valuation model described the current setup as potentially asymmetric in investors’ favor. Netflix Is Down 40% From Its All-Time High Could Netflix Stock Double From Here?
• Positive Sentiment: JPMorgan analyst Doug Anmuth maintained an Overweight rating and an $85 price target, citing Netflix’s content pipeline and multiple initiatives to support engagement and revenue growth. The view suggests potential upside from current levels, although the analyst sees no single catalyst guaranteeing acceleration. Netflix Has No Single Silver Bullet
• Positive Sentiment: Netflix’s advertising-supported tier and broad content offering could make the company relatively resilient during a recession, as consumers may retain lower-cost entertainment subscriptions even amid economic pressure. Which Streaming Stock Would Hold Up Better in a Recession?
• Neutral Sentiment: Representatives for Meghan of Sussex reportedly held exploratory discussions about a possible role in a third season of The Gentlemen. Netflix has not ordered the season, so the potential casting has no immediate financial impact. Meghan of Sussex Eyes Role in Netflix Show The Gentlemen
• Negative Sentiment: With Netflix no longer emphasizing subscriber numbers, investors must rely more heavily on revenue growth, advertising performance, engagement and profitability metrics. That makes it harder to assess momentum and contributes to debate over whether the stock’s decline reflects a bargain or slowing growth. Netflix Is Down 40% From Its All-Time High
• Negative Sentiment: YouTube is reportedly offering creators substantial payments and warning that simultaneous Netflix deals could jeopardize marketing support and brand-campaign revenue. This could intensify competition for exclusive content and creator attention. YouTube Offers Creators Millions to Avoid Netflix Deals

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NFLX shares. JPMorgan Chase & Co. reduced their price objective on shares of Netflix from $118.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Seaport Research Partners lowered shares of Netflix from a “buy” rating to a “neutral” rating in a research note on Monday, July 20th. The Goldman Sachs Group downgraded shares of Netflix from an “underweight” rating to a “sell” rating in a report on Monday, July 20th. UBS Group cut their target price on shares of Netflix from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Finally, Raymond James Financial restated a “market perform” rating on shares of Netflix in a report on Thursday, May 14th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.48.

Netflix Profile

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.