Netflix, Inc. $NFLX Stock: Pictet Asset Management Holding SA Increases Holdings

Pictet Asset Management Holding SA lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 10.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,453,680 shares of the Internet television network’s stock after buying an additional 418,810 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Netflix were worth $309,892,000 as of its most recent filing with the Securities and Exchange Commission.

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

Netflix Stock Down 3.3%

Shares of NASDAQ:NFLX opened at $63.41 on Friday. The company has a 50 day moving average price of $71.03 and a two-hundred day moving average price of $80.97. The company has a market capitalization of $260.38 billion, a PE ratio of 18.33, a PEG ratio of 0.93 and a beta of 1.62. Netflix, Inc. has a 52 week low of $61.39 and a 52 week high of $116.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last announced its quarterly 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 company had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.87 billion. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. Analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current year.

Key Stories Impacting Netflix

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

Several equities research analysts have recently weighed in on the stock. Seaport Research Partners set a $85.00 target price on shares of Netflix in a report on Wednesday, October 21st. Robert W. Baird set a $90.00 target price on shares of Netflix and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Huber Research downgraded shares of Netflix from a “buy” rating to an “underweight” rating in a research report on Tuesday, October 13th. China Intl Cap upgraded Netflix to a “strong-buy” rating in a research report on Tuesday, July 21st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $80.00 target price (down from $95.00) on shares of Netflix in a research note on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.14.

Insider Transactions at Netflix

In other news, CEO Theodore A. Sarandos sold 27,312 shares of the company’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 completion of the transaction, the chief executive officer directly owned 178,954 shares of the company’s stock, valued at $11,846,754.80. This represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Bradford L. Smith sold 17,980 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $64.03, for a total value of $1,151,259.40. Following the transaction, the director directly owned 79,690 shares of the company’s stock, valued at approximately $5,102,550.70. This trade represents a 18.41% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 70,960 shares of company stock valued at $4,752,050. 1.24% of the stock is currently owned by insiders.

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.