Life Cycle Investment Partners Ltd acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 744,574 shares of the Internet television network’s stock, valued at approximately $69,811,000.
Other large investors have also recently modified their holdings of the company. First Financial Corp IN raised its stake in shares of Netflix by 900.0% during the 4th quarter. First Financial Corp IN now owns 270 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 243 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its stake in shares of Netflix by 885.2% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 266 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 239 shares in the last quarter. Turning Point Benefit Group Inc. raised its stake in shares of Netflix by 13,400.0% during the 4th quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 268 shares in the last quarter. Imprint Wealth LLC bought a new position in shares of Netflix during the 3rd quarter worth approximately $25,000. Finally, MB Levis & Associates LLC raised its stake in shares of Netflix by 177.8% during the 4th quarter. MB Levis & Associates LLC now owns 300 shares of the Internet television network’s stock worth $28,000 after acquiring an additional 192 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.
Netflix Stock Down 0.8%
NFLX stock opened at $88.60 on Friday. The firm’s fifty day simple moving average is $93.88 and its 200-day simple moving average is $93.93. The company has a market capitalization of $373.08 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 1.13 and a beta of 1.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.41 and a quick ratio of 1.41. Netflix, Inc. has a 12 month low of $75.01 and a 12 month high of $134.12.
Insider Activity
In related news, insider David A. Hyman sold 5,722 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $88.08, for a total transaction of $503,993.76. Following the sale, the insider directly owned 316,100 shares of the company’s stock, valued at approximately $27,842,088. This represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Theodore A. Sarandos sold 27,312 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total transaction of $2,402,636.64. Following the sale, 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. Insiders sold a total of 1,422,769 shares of company stock valued at $135,144,073 in the last three months. Corporate insiders own 1.24% of the company’s stock.
Trending Headlines about Netflix
Here are the key news stories impacting Netflix this week:
- Positive Sentiment: Netflix’s ad-supported tier has surpassed 250 million monthly viewers, reinforcing the company’s advertising growth story and supporting the bull case for future revenue expansion. Netflix ad-supported tier tops 250M monthly viewers as sports push deepens
- Positive Sentiment: Netflix is deepening its partnership with iHeartMedia by streaming “The Breakfast Club” live daily, a sign it is pushing further into live and podcast-style programming that could broaden engagement and ad inventory. iHeartMedia and Netflix Deepen Partnership with Daily Live Video Stream of The Breakfast Club
- Positive Sentiment: CNBC highlighted Netflix as a “final trade,” suggesting some short-term trading interest from market watchers. IBM, ServiceNow, Netflix And A Basic Materials Stock: CNBC’s ‘Final Trades’
- Neutral Sentiment: BetterInvesting questioned whether Netflix is fairly valued after its recent report, which keeps the stock in “show-me” territory even after strong earnings and revenue growth. BetterInvesting™ Magazine Update on Netflix (NASDAQ: NFLX) and ExlService Holdings Inc. (NASDAQ: EXLS)
- Neutral Sentiment: Analyst commentary noted Netflix as a possible suitor if IMAX is sold, but this is speculative and not a confirmed deal driver. IMAX Potential Suitors Include Netflix, Apple, Wedbush Says
- Negative Sentiment: Canada’s new streaming rules would require Netflix to contribute a larger share of domestic revenue to Canadian content, raising compliance costs for the business. Canada Raises Streaming Content Requirement to 15% for Netflix, Disney, Amazon
- Negative Sentiment: Separate reporting also flagged higher costs from the same Canadian policy change, adding a modest regulatory headwind for Netflix and other streamers. Netflix, Spotify to face higher costs as CRTC changes rules
Analyst Ratings Changes
Several research analysts recently commented on the stock. President Capital boosted their price objective on shares of Netflix from $133.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Arete Research upgraded shares of Netflix from a “neutral” rating to a “buy” rating in a research note on Friday, February 27th. Oppenheimer set a $120.00 price objective on shares of Netflix and gave the stock an “outperform” rating in a research note on Friday, April 17th. Sanford C. Bernstein reissued a “buy” rating on shares of Netflix in a research report on Thursday, May 14th. Finally, Evercore assumed coverage on shares of Netflix in a research report on Friday, February 27th. They set an “outperform” rating and a $115.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and sixteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.82.
Read Our Latest Analysis on NFLX
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.
Recommended Stories
- Five stocks we like better than Netflix
- Workday Validates AI Flywheel: Stock Price Recovery Begins
- HubSpot at 2019 Levels Is an Opportunity—Not a Warning
- Was Decker’s Double Beat a Bullish Signal—Or Mere HOKA’s-Pocus?
- Kiniksa Pharmaceuticals Still Has Room to Run After 100% Rally
Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX – Free Report).
Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.
