Assenagon Asset Management S.A. Sells 2,526,708 Shares of Netflix, Inc. $NFLX

Assenagon Asset Management S.A. lowered its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 31.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,463,635 shares of the Internet television network’s stock after selling 2,526,708 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Netflix were worth $390,104,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Checchi Capital Advisers LLC grew its stake in Netflix by 875.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 31,143 shares of the Internet television network’s stock valued at $2,920,000 after purchasing an additional 27,951 shares in the last quarter. BNC Wealth Management LLC raised its stake in shares of Netflix by 991.3% during the 4th quarter. BNC Wealth Management LLC now owns 41,229 shares of the Internet television network’s stock worth $3,866,000 after purchasing an additional 37,451 shares in the last quarter. Family Capital Trust Co raised its stake in shares of Netflix by 20,869.5% during the 4th quarter. Family Capital Trust Co now owns 27,470 shares of the Internet television network’s stock worth $2,576,000 after purchasing an additional 27,339 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Netflix by 912.5% during 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 in the last quarter. Finally, BLB&B Advisors LLC boosted its holdings in shares of Netflix by 617.4% in the 4th quarter. BLB&B Advisors LLC now owns 60,635 shares of the Internet television network’s stock valued at $5,685,000 after buying an additional 52,183 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Reed Hastings sold 386,700 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $85.97, for a total value of $33,244,599.00. Following the transaction, the director owned 3,940 shares in the company, valued at approximately $338,721.80. This represents a 98.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradford L. Smith sold 35,990 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $77.52, for a total transaction of $2,789,944.80. Following the completion of the transaction, the director owned 79,690 shares in the company, valued at approximately $6,177,568.80. This trade represents a 31.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 591,047 shares of company stock valued at $48,355,766. 1.24% of the stock is currently owned by insiders.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix is reportedly considering launching always-on, linear-style streaming channels. The move could increase viewing time, improve content monetization and appeal to viewers seeking a traditional television experience. Netflix Killed Cable TV. Now the Streaming Giant Wants to Bring It Back
• Positive Sentiment: An extended Grand Theft Auto VI gameplay trailer is scheduled to debut on Netflix on August 27. The partnership could generate attention and engagement, although it is unlikely to materially change Netflix’s near-term financial outlook. Take-Two Stock Slips Despite News of a GTA VI Trailer Coming to Netflix
• Neutral Sentiment: Director Richard Barton’s sale of 2,160 shares was executed under a pre-arranged Rule 10b5-1 plan, making it a relatively limited signal about management’s current view of NFLX. The director retained 246 shares afterward. Netflix’s Latest Insider Sale Looks Bigger Than It Is
• Neutral Sentiment: Insider David Hyman previously sold shares to cover tax withholding tied to vested equity awards, another transaction with limited fundamental significance. Netflix’s latest quarter showed earnings slightly above expectations and 13.4% year-over-year revenue growth, but sales narrowly missed consensus.
• Negative Sentiment: CEO Gregory Peters sold 27,312 shares worth approximately $2.0 million. Although the filing did not identify a 10b5-1 plan, he continues to own more than 120,000 shares; nevertheless, the sale adds to investor concern after multiple insider transactions. Netflix Insider Plans Stock Sale as NFLX Shares Slip
• Negative Sentiment: Netflix has reportedly underperformed the S&P 500 by a wide margin over the past year. Concerns about weaker engagement, reduced viewing-data disclosure and intensifying streaming competition are weighing on sentiment and valuation. Netflix and MercadoLibre Are Underperforming the S&P 500

Netflix Stock Down 0.7%

NFLX opened at $73.69 on Friday. Netflix, Inc. has a 1-year low of $65.08 and a 1-year high of $126.71. The stock’s fifty day simple moving average is $75.56 and its 200 day simple moving average is $84.95. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. The stock has a market cap of $306.84 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NFLX. KeyCorp reissued an “overweight” rating and issued a $92.00 target price (down from $115.00) on shares of Netflix in a research note on Monday, July 13th. Stephens assumed coverage on shares of Netflix in a research report on Friday, July 17th. They set an “overweight” rating on the stock. HSBC increased their price target on shares of Netflix from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Wedbush decreased their price objective on shares of Netflix from $118.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Finally, DZ Bank restated a “buy” rating on shares of Netflix in a research note on Friday, April 17th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.48.

About Netflix

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.