Netflix, Inc. (NASDAQ:NFLX – Get Free Report) CEO Gregory Peters sold 27,312 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $63.62, for a total value of $1,737,589.44. Following the completion of the sale, the chief executive officer directly owned 119,412 shares in the company, valued at approximately $7,596,991.44. The trade was a 18.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Netflix Stock Down 1.1%
Netflix stock opened at $63.26 on Wednesday. The stock has a market capitalization of $259.77 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 0.94 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 business has a 50 day simple moving average of $70.32 and a 200-day simple moving average of $80.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.07 and a quick ratio of 1.07.
Netflix (NASDAQ:NFLX – Get Free Report) last announced its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. Netflix had a return on equity of 42.69% and a net margin of 29.69%. The firm had revenue of $12.87 billion for the quarter, compared to analyst estimates of $12.87 billion. During the same quarter last year, the firm posted $0.59 EPS. The business’s revenue was up 11.9% on a year-over-year basis. On average, analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nykredit A S acquired a new stake in Netflix during the second quarter worth about $105,697,000. Rockland Trust Co. raised its stake in Netflix by 27.5% during the third quarter. Rockland Trust Co. now owns 219,221 shares of the Internet television network’s stock worth $15,253,000 after purchasing an additional 47,339 shares during the period. Boomfish Wealth Group LLC boosted its holdings in Netflix by 91.5% in the 3rd quarter. Boomfish Wealth Group LLC now owns 34,547 shares of the Internet television network’s stock valued at $2,404,000 after purchasing an additional 16,510 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Netflix in the 2nd quarter valued at about $37,743,000. Finally, Sarasin & Partners LLP boosted its holdings in Netflix by 10.5% in the 2nd quarter. Sarasin & Partners LLP now owns 2,736,198 shares of the Internet television network’s stock valued at $195,365,000 after purchasing an additional 259,794 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.
Key Stories Impacting Netflix
Here are the key news stories impacting Netflix this week:
- Positive Sentiment: Netflix’s EMEA revenue grew 11% year over year in the third quarter. Management says sustaining that growth in Europe will depend partly on preserving creative freedom amid regulation. Article: Netflix boss says creativity and regulation are not happy bedfellows in Europe
- Neutral Sentiment: Netflix launched an international campaign using 35mm film, supported by a social series about creatives’ viewing tastes. The campaign may support brand engagement, but its financial impact is unclear. Article: Netflix embraces 35mm film in international campaign
- Neutral Sentiment: A report described November short interest as totaling zero shares, with a 0.0-day days-to-cover ratio. That figure does not indicate meaningful short positioning, despite the report’s claim of a large increase.
- Negative Sentiment: Investor confidence remains a concern: coverage cites slowing Netflix growth and evidence that viewers are watching less. A content leadership shake-up is among management’s steps to address the challenge, but the concerns weigh on the growth outlook. Article: Why Netflix Stock Plunged 11% in October
- Negative Sentiment: Netflix also declined amid weakness across entertainment stocks. Coverage linked the sector’s reaction to concerns about the film outlook and debt at the newly combined Warner Bros.–Paramount, though it characterized Netflix and Disney as relatively less affected. Article: Skydance Sinks as Warner Bros. Film Slump Overshadows Earnings Beat
Analysts Set New Price Targets
Several equities analysts have issued reports on NFLX shares. Deutsche Bank Aktiengesellschaft set a $93.00 price objective on shares of Netflix in a report on Wednesday, October 21st. TD Cowen reissued a “buy” rating and set a $100.00 target price on shares of Netflix in a research note on Wednesday, October 21st. Evercore reissued an “outperform” rating and set a $90.00 target price on shares of Netflix in a research note on Wednesday, October 21st. Canaccord Genuity Group set a $110.00 price target on shares of Netflix in a research report on Wednesday, October 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Netflix from $85.00 to $81.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.14.
Get Our Latest Research Report on Netflix
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.
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