9,363 Shares in Netflix, Inc. $NFLX Acquired by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,363 shares of the Internet television network’s stock, valued at approximately $651,000.

Several other institutional investors and hedge funds have also bought and sold shares of NFLX. BlackRock Inc. purchased a new stake in shares of Netflix during the 2nd quarter valued at $24,902,221,000. State Street Corp boosted its position in shares of Netflix by 4.9% in the 2nd quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock worth $12,861,252,000 after purchasing an additional 8,474,820 shares in the last quarter. Bank of America Corp DE grew its stake in Netflix by 4.3% during the 1st quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network’s stock worth $5,571,201,000 after buying an additional 2,376,349 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Netflix during the 2nd quarter worth $1,906,482,000. Finally, Legal & General Group Plc purchased a new position in Netflix during the 2nd quarter worth $1,886,526,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix ordered Other Worlds: A Stranger Things Adventure, a live-action prequel series. Extending a popular franchise could support viewer engagement, though the financial impact and timing are not yet clear. Article: Stranger Things prequel series
• Positive Sentiment: A valuation analysis argues NFLX could be undervalued, estimating about 23% upside to fair value. This offers a counterpoint to recent weakness, but is an analyst view rather than a company announcement. Article: Netflix stock fair-value analysis
• Neutral Sentiment: CEO Ted Sarandos and CFO Spencer Neumann disclosed share sales, but the transactions were made to cover tax withholding on vested equity awards. That stated purpose makes them a less clear signal about management’s view of the stock. Article: Netflix insider share sales
• Negative Sentiment: Coverage noted NFLX slipping even with the new Stranger Things plans, suggesting the content announcement has not eased near-term selling pressure. The shares are also near their 52-week low and far below their 52-week high, reflecting a weak recent trend. Article: Netflix stock slips despite new Stranger Things plans

Wall Street Analyst Weigh In

NFLX has been the topic of several recent analyst reports. Moffett Nathanson reaffirmed a “buy” rating and set a $90.00 target price on shares of Netflix in a research report on Wednesday, October 21st. Robert W. Baird set a $90.00 price target on Netflix and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Wedbush dropped their price target on Netflix from $105.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Barclays set a $65.00 price target on Netflix and gave the stock an “equal weight” rating in a research note on Wednesday, October 21st. Finally, Phillip Securities downgraded shares of Netflix from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.14.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Theodore Sarandos sold 27,312 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $66.20, for a total transaction of $1,808,054.40. Following the sale, the chief executive officer owned 178,954 shares in the company, valued at approximately $11,846,754.80. The trade was a 13.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David Hyman sold 5,727 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $64.55, for a total value of $369,677.85. Following the completion of the transaction, the insider directly owned 166,100 shares in the company, valued at $10,721,755. This represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 61,712 shares of company stock worth $4,051,144. 1.24% of the stock is owned by corporate insiders.

Netflix Price Performance

Shares of NFLX opened at $63.41 on Monday. The firm has a market capitalization of $260.38 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 0.93 and a beta of 1.62. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.07 and a quick ratio of 1.07. Netflix, Inc. has a 1-year low of $61.39 and a 1-year high of $116.73. The company’s fifty day moving average price is $71.03 and its 200-day moving average price is $80.97.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. The firm had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.87 billion. Netflix had a return on equity of 42.69% and a net margin of 29.69%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. On average, equities research analysts predict that Netflix, Inc. will post 3.59 EPS for the current year.

About Netflix

Netflix, Inc is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand.

Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.