Convergence Investment Partners LLC Raises Holdings in Netflix, Inc. $NFLX

Convergence Investment Partners LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 551.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,611 shares of the Internet television network’s stock after purchasing an additional 3,057 shares during the quarter. Netflix makes up approximately 1.2% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 15th largest position. Convergence Investment Partners LLC’s holdings in Netflix were worth $4,836,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Optima Capital LLC boosted its stake in Netflix by 3.5% during the second quarter. Optima Capital LLC now owns 239 shares of the Internet television network’s stock worth $320,000 after buying an additional 8 shares during the last quarter. Unified Investment Management boosted its stake in Netflix by 1.7% during the second quarter. Unified Investment Management now owns 474 shares of the Internet television network’s stock worth $635,000 after buying an additional 8 shares during the last quarter. Plancorp LLC boosted its stake in Netflix by 0.6% during the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network’s stock worth $1,711,000 after buying an additional 8 shares during the last quarter. Five Oceans Advisors boosted its stake in Netflix by 1.1% during the second quarter. Five Oceans Advisors now owns 751 shares of the Internet television network’s stock worth $1,006,000 after buying an additional 8 shares during the last quarter. Finally, Old Port Advisors boosted its stake in Netflix by 1.3% during the second quarter. Old Port Advisors now owns 624 shares of the Internet television network’s stock worth $836,000 after buying an additional 8 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group set a $1,500.00 price target on Netflix in a report on Wednesday. Wall Street Zen cut Netflix from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Pivotal Research reiterated a “buy” rating on shares of Netflix in a report on Thursday, July 10th. The Goldman Sachs Group lowered their price target on Netflix from $1,310.00 to $1,300.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. Finally, Argus set a $1,410.00 price target on Netflix in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,352.78.

Netflix Price Performance

NFLX stock opened at $1,094.69 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $463.85 billion, a P/E ratio of 45.73, a P/E/G ratio of 1.89 and a beta of 1.59. The business’s 50-day moving average is $1,207.21 and its two-hundred day moving average is $1,189.16. Netflix, Inc. has a 1 year low of $747.77 and a 1 year high of $1,341.15.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.88 by ($1.01). The company had revenue of $11.51 billion during the quarter, compared to analyst estimates of $11.52 billion. Netflix had a net margin of 24.05% and a return on equity of 41.86%. Netflix’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the business earned $5.40 EPS. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. Analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 424 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the transaction, the insider owned 31,610 shares in the company, valued at $36,625,558.70. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Reed Hastings sold 42,176 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the transaction, the director owned 394 shares in the company, valued at $461,736.48. This represents a 99.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,100 shares of company stock worth $122,710,980. 1.37% of the stock is currently owned by company insiders.

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.