Penobscot Investment Management Company Inc. grew its stake in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 156.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 12,980 shares of the Internet television network’s stock after buying an additional 7,910 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Netflix were worth $1,248,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in NFLX. Brighton Jones LLC boosted its holdings in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after buying an additional 257 shares during the period. Revolve Wealth Partners LLC raised its holdings in Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after acquiring an additional 144 shares during the period. Sivia Capital Partners LLC raised its holdings in Netflix by 21.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network’s stock worth $1,883,000 after acquiring an additional 246 shares during the period. Strategic Investment Advisors MI lifted its position in Netflix by 18.9% during the 2nd quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network’s stock worth $1,036,000 after acquiring an additional 123 shares during the last quarter. Finally, Schnieders Capital Management LLC. boosted its holdings in Netflix by 12.1% during the second quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network’s stock valued at $2,832,000 after acquiring an additional 228 shares during the period. Institutional investors own 80.93% of the company’s stock.
Netflix Trading Up 0.2%
Netflix stock opened at $76.18 on Wednesday. The business has a 50 day moving average price of $82.80 and a two-hundred day moving average price of $87.99. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.43. Netflix, Inc. has a 12 month low of $70.86 and a 12 month high of $129.32. The stock has a market cap of $320.78 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 0.97 and a beta of 1.52.
Key Headlines Impacting Netflix
Here are the key news stories impacting Netflix this week:
- Positive Sentiment: Netflix signed licensing deals with multiple digital publishers, including BuzzFeed, Condé Nast, Hearst, People Inc., Tastemade and Penske Media brands, to add short-form videos to its homepage. The move suggests Netflix is trying to boost engagement, diversify its content mix, and compete more directly for viewing time against YouTube. Article title
- Positive Sentiment: Reports also say Netflix is interested in bidding for U.S. broadcast rights to the 2030 and 2034 FIFA World Cups, a potentially high-profile sports move that could improve subscriber growth, brand reach, and ad sales if it wins part of the package. Article title
- Positive Sentiment: Several commentary pieces highlighted Netflix as undervalued after its pullback, pointing to strong free cash flow, raised cash flow guidance, and growth initiatives such as ad-supported tiers, gaming, and live programming. Article title
- Neutral Sentiment: Analysts and market commentators continued to frame Netflix as a stock with mixed near-term technical and valuation signals, including references to “death cross” resistance and a soft recent trend, but without a major new fundamental negative. Article title
- Negative Sentiment: Some recent coverage flagged an engagement problem, including concerns that viewers are dropping off after early seasons of big shows and that Netflix faces structural pressure from shorter-form “microdramas” and changing viewing habits. Article title
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Erste Group Bank lowered Netflix from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Pivotal Research set a $96.00 price target on Netflix and gave the stock a “hold” rating in a research report on Friday, April 17th. Wolfe Research reiterated an “outperform” rating and set a $107.00 price target on shares of Netflix in a report on Friday, April 17th. Needham & Company LLC reissued a “buy” rating on shares of Netflix in a research report on Friday, April 17th. Finally, Jefferies Financial Group lowered their price objective on shares of Netflix from $128.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $114.26.
Check Out Our Latest Analysis on Netflix
Insider Activity
In other news, Director Bradford L. Smith sold 35,990 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $77.52, for a total transaction of $2,789,944.80. Following the completion of the transaction, the director directly owned 79,690 shares of the company’s stock, valued at approximately $6,177,568.80. This trade represents a 31.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory K. Peters sold 27,312 shares of Netflix stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $88.69, for a total transaction of $2,422,301.28. Following the sale, the chief executive officer owned 120,931 shares in the company, valued at approximately $10,725,370.39. This trade represents a 18.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 899,839 shares of company stock valued at $80,141,661. 1.24% of the stock is owned by insiders.
Netflix 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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