Dock Street Asset Management Inc. Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Dock Street Asset Management Inc. acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,217 shares of the Internet television network’s stock, valued at approximately $21,651,000. Netflix comprises approximately 2.6% of Dock Street Asset Management Inc.’s holdings, making the stock its 13th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. GAMMA Investing LLC lifted its stake in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Norges Bank purchased a new stake in shares of Netflix in the 4th quarter valued at $5,019,087,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after buying an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Netflix by 318.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after buying an additional 743,724 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock valued at $4,076,903,000 after buying an additional 570,674 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Netflix

In other Netflix news, Director Strive Masiyiwa sold 290 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Reed Hastings sold 9,673 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the sale, the director directly owned 394 shares of the company’s stock, valued at $523,669.34. The trade was a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,723 shares of company stock worth $223,307,201 in the last ninety days. Company insiders own 1.37% of the company’s stock.

Netflix Stock Down 0.4%

Shares of NASDAQ NFLX opened at $1,245.11 on Friday. The stock has a market cap of $529.88 billion, a PE ratio of 58.84, a price-to-earnings-growth ratio of 2.26 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The business has a 50-day moving average price of $1,221.70 and a 200 day moving average price of $1,049.85.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the prior year, the firm earned $8.28 EPS. Equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research analyst reports. Canaccord Genuity Group reiterated a “buy” rating on shares of Netflix in a report on Thursday. Rosenblatt Securities boosted their price objective on Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a report on Monday, April 21st. Benchmark reiterated a “hold” rating on shares of Netflix in a report on Monday, April 21st. Wells Fargo & Company upped their price target on Netflix from $1,222.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. Finally, FBN Securities started coverage on Netflix in a report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price target on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,214.52.

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.