Asset One Wealth Management LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 50.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,059 shares of the Internet television network’s stock after purchasing an additional 24,482 shares during the quarter. Asset One Wealth Management LLC’s holdings in Netflix were worth $5,083,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Netflix during the second quarter valued at approximately $24,902,221,000. Bank of New York Mellon Corp acquired a new position in Netflix in the second quarter valued at approximately $1,906,482,000. Legal & General Group Plc acquired a new position in Netflix in the 2nd quarter valued at about $1,886,526,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Netflix during the second quarter worth about $1,481,303,000. Finally, Assenagon Asset Management S.A. lifted its stake in Netflix by 194.9% during the third quarter. Assenagon Asset Management S.A. now owns 16,111,438 shares of the Internet television network’s stock worth $1,121,034,000 after purchasing an additional 10,647,803 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.
More Netflix News
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
Netflix Trading Down 3.3%
Shares of Netflix stock opened at $63.41 on Friday. The company has a market capitalization of $260.38 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 0.91 and a beta of 1.62. Netflix, Inc. has a 12-month low of $61.39 and a 12-month high of $116.73. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $71.03 and a 200 day simple moving average of $80.97.
Netflix (NASDAQ:NFLX – Get Free Report) last issued its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.05. Netflix had a return on equity of 42.69% and a net margin of 29.69%. The company had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.87 billion. During the same period in the prior year, the business posted $0.59 EPS. Netflix’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.
Insider Transactions at Netflix
In related news, CEO Theodore Sarandos sold 27,312 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $66.20, for a total value of $1,808,054.40. Following the completion of the sale, the chief executive officer owned 178,954 shares in the company, valued at $11,846,754.80. This represents a 13.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Neumann sold 9,253 shares of Netflix stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $66.15, for a total value of $612,085.95. Following the completion of the sale, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at approximately $4,881,010.05. This represents a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 70,960 shares of company stock valued at $4,752,050 in the last three months. 1.24% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on NFLX. HSBC lowered shares of Netflix from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $96.00 to $76.00 in a research report on Tuesday, September 22nd. Jefferies Financial Group set a $85.00 price objective on shares of Netflix and gave the stock a “buy” rating in a report on Thursday, October 15th. The Goldman Sachs Group set a $84.00 target price on shares of Netflix in a research note on Wednesday, October 21st. Robert W. Baird set a $90.00 price target on Netflix and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Argus set a $95.00 price objective on shares of Netflix and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.14.
View Our Latest Stock Report on Netflix
Netflix Company Profile
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.
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