Carmignac Gestion lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 99.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,071 shares of the Internet television network’s stock after selling 395,291 shares during the quarter. Carmignac Gestion’s holdings in Netflix were worth $295,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. Turning Point Benefit Group Inc. raised its position in Netflix by 13,400.0% in the 4th quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 268 shares during the last quarter. Imprint Wealth LLC acquired a new position in Netflix during the 3rd quarter worth $25,000. Cornerstone Financial Management LLC bought a new position in Netflix in the 4th quarter valued at $26,000. Atlas Capital Advisors Inc. bought a new position in Netflix in the 4th quarter valued at $26,000. Finally, Jessup Wealth Management Inc acquired a new stake in shares of Netflix in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 80.93% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on NFLX shares. Morgan Stanley restated an “overweight” rating and set a $90.00 target price (down from $115.00) on shares of Netflix in a research report on Tuesday, July 14th. TD Cowen lowered their price objective on Netflix from $112.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Needham & Company LLC reissued a “buy” rating on shares of Netflix in a report on Friday, April 17th. Jefferies Financial Group cut their target price on shares of Netflix from $128.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, June 10th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Netflix in a research note on Thursday, May 14th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.48.
Insiders Place Their Bets
In other Netflix news, CFO Spencer Adam Neumann sold 9,253 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $88.95, for a total value of $823,054.35. Following the completion of the sale, the chief financial officer owned 73,787 shares of the company’s stock, valued at approximately $6,563,353.65. This represents a 11.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 27,312 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $88.69, for a total transaction of $2,422,301.28. Following the completion of 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. Insiders sold a total of 492,289 shares of company stock worth $42,186,530 over the last ninety days. Company insiders own 1.24% of the company’s stock.
Netflix Stock Performance
NASDAQ NFLX opened at $71.71 on Monday. Netflix, Inc. has a 12 month low of $65.08 and a 12 month high of $126.71. The stock has a 50-day simple moving average of $76.66 and a 200 day simple moving average of $85.38. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $298.60 billion, a PE ratio of 22.57, a P/E/G ratio of 0.90 and a beta of 1.52.
Netflix (NASDAQ:NFLX – Get Free Report) last issued its earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share. Research analysts forecast that Netflix, Inc. will post 3.59 EPS for the current year.
Key Headlines Impacting Netflix
Here are the key news stories impacting Netflix this week:
- Positive Sentiment: Netflix agreed to a five-year, approximately $500 million licensing deal covering all 371 episodes of The Walking Dead universe in international markets. The agreement strengthens Netflix’s global content lineup and adds a recognizable franchise beginning in 2027. Los Angeles Times article
- Positive Sentiment: Walmart-owned Flipkart is offering qualifying loyalty members a monthly Netflix mobile subscription after four orders in a month. The partnership could support customer acquisition and engagement in India, although the direct financial impact appears limited. Reuters article
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.
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