Marsico Capital Management LLC Decreases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Marsico Capital Management LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 103,378 shares of the Internet television network’s stock after selling 185 shares during the quarter. Netflix accounts for approximately 2.1% of Marsico Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Marsico Capital Management LLC’s holdings in Netflix were worth $69,768,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after buying an additional 149,341 shares in the last quarter. Capital World Investors lifted its holdings in shares of Netflix by 0.7% in the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after acquiring an additional 78,320 shares during the last quarter. Jennison Associates LLC grew its position in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares in the last quarter. Baillie Gifford & Co. increased its stake in Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after acquiring an additional 106,756 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Netflix by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 4,115,613 shares of the Internet television network’s stock valued at $2,003,810,000 after purchasing an additional 72,807 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $706.91 on Wednesday. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $711.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $304.68 billion, a P/E ratio of 49.06, a P/E/G ratio of 1.40 and a beta of 1.26. The business’s 50 day moving average price is $660.64 and its 200 day moving average price is $639.15.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter last year, the company posted $3.29 earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year. On average, sell-side analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity

In related news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Insiders sold a total of 196,798 shares of company stock valued at $129,552,672 in the last quarter. 1.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent analyst reports. Evercore ISI lifted their price target on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 27th. Bank of America upped their price objective on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. increased their target price on Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. Argus upped their price target on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Piper Sandler upped their target price on shares of Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $685.29.

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.