Signal Advisors Wealth LLC raised its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 54.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,187 shares of the Internet television network’s stock after purchasing an additional 21,130 shares during the period. Signal Advisors Wealth LLC’s holdings in Netflix were worth $5,787,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Netflix by 912.5% during the fourth quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock valued at $36,567,805,000 after buying an additional 351,493,659 shares during the period. State Street Corp grew its stake in Netflix by 927.6% in the 4th quarter. State Street Corp now owns 176,780,995 shares of the Internet television network’s stock worth $16,574,986,000 after acquiring an additional 159,578,053 shares during the period. Geode Capital Management LLC grew its stake in Netflix by 892.0% in the 4th quarter. Geode Capital Management LLC now owns 99,598,678 shares of the Internet television network’s stock worth $9,305,336,000 after acquiring an additional 89,558,684 shares during the period. Capital World Investors raised its holdings in Netflix by 859.1% in the 4th quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock valued at $8,376,656,000 after acquiring an additional 80,025,890 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Netflix by 903.0% during the 4th quarter. Morgan Stanley now owns 85,349,973 shares of the Internet television network’s stock worth $8,002,414,000 after purchasing an additional 76,840,318 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.
Netflix Trading Down 0.1%
NASDAQ NFLX opened at $72.82 on Wednesday. Netflix, Inc. has a one year low of $71.81 and a one year high of $134.12. The company’s 50 day moving average price is $87.70 and its 200 day moving average price is $89.53. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $306.63 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 0.93 and a beta of 1.50.
Insider Buying and Selling at Netflix
In other Netflix news, Director Bradford L. Smith sold 35,990 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total value of $2,789,944.80. Following the transaction, the director directly owned 79,690 shares of the company’s stock, valued at $6,177,568.80. This trade represents a 31.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore A. Sarandos sold 27,312 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $87.97, for a total value of $2,402,636.64. Following the completion of the transaction, the chief executive officer directly owned 284,804 shares in the company, valued at $25,054,207.88. This trade represents a 8.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 1,349,019 shares of company stock worth $123,105,721. Corporate insiders own 1.24% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on NFLX. Cfra raised Netflix from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Friday, March 6th. Morgan Stanley reissued an “overweight” rating on shares of Netflix in a research note on Friday, April 17th. Piper Sandler restated an “overweight” rating and issued a $115.00 price target (up from $103.00) on shares of Netflix in a report on Friday, April 17th. Oppenheimer set a $120.00 price objective on shares of Netflix and gave the company an “outperform” rating in a research note on Friday, April 17th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Netflix in a report on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $114.26.
Get Our Latest Stock Analysis on Netflix
More Netflix News
Here are the key news stories impacting Netflix this week:
- Positive Sentiment: Netflix is expanding its advertising business through a new AI-powered ad partnership with Omnicom and Acxiom, which could improve ad targeting and measurement and support longer-term ad revenue growth. Omnicom (OMC) Launches Fan Graph And Teams Up With Netflix On AI Ads
- Positive Sentiment: Netflix is trying to broaden engagement beyond streaming with a new original horror game due June 30, signaling more ambition in interactive entertainment. Netflix Unveils New Horror Game to Jumpstart Interactive Offerings
- Positive Sentiment: Several articles argue the stock looks inexpensive after the selloff, with some analysts and strategists pointing to upside if Netflix executes on advertising, free cash flow, and new growth initiatives. Netflix (NFLX) Stock After 42% Slide In Year Looks Cheap On Cash Flow And Earnings
- Neutral Sentiment: Citizens maintained a Market Perform rating, reflecting a mixed Wall Street view rather than a clear catalyst. Netflix (NFLX) Launches First Original Horror Game to Boost Gaming Engagement
- Negative Sentiment: Multiple reports say Netflix’s share of streaming time is declining, reinforcing fears that competitors are taking engagement and attention from the platform. Netflix’s (NFLX) Share of People’s Streaming Time Declines, Further Pressuring the Stock
- Negative Sentiment: Investors remain disappointed that Netflix has not pursued a larger M&A move, and that skepticism has weighed on sentiment after the Warner Bros. deal collapse. Why Netflix Stock Fell Today
Netflix Company 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.
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