King Luther Capital Management Corp grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 2.5% in the third quarter, Holdings Channel reports. The firm owned 2,592,769 shares of the Internet television network’s stock after acquiring an additional 64,321 shares during the period. King Luther Capital Management Corp’s holdings in Netflix were worth $180,405,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Spectrum Planning & Advisory Services Inc. purchased a new position in shares of Netflix during the third quarter worth approximately $342,000. Capstone Wealth Management Group LLC bought a new stake in shares of Netflix during the third quarter valued at approximately $36,000. Maryland State Retirement & Pension System boosted its holdings in shares of Netflix by 12.2% in the third quarter. Maryland State Retirement & Pension System now owns 253,849 shares of the Internet television network’s stock valued at $17,663,000 after purchasing an additional 27,650 shares during the period. UNIVEST FINANCIAL Corp boosted its holdings in shares of Netflix by 3.1% in the third quarter. UNIVEST FINANCIAL Corp now owns 28,855 shares of the Internet television network’s stock valued at $2,008,000 after purchasing an additional 877 shares during the period. Finally, Granville Capital Inc. purchased a new stake in shares of Netflix in the third quarter valued at approximately $206,000. 80.93% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Seaport Research Partners set a $85.00 price objective on Netflix in a research note on Wednesday, October 21st. Pivotal Research reaffirmed a “hold” rating and set a $65.00 target price (down from $70.00) on shares of Netflix in a research report on Wednesday, October 21st. UBS Group set a $90.00 target price on Netflix in a report on Wednesday, October 21st. Stephens initiated coverage on Netflix in a report on Friday, July 17th. They issued an “overweight” rating for the company. Finally, Phillip Securities downgraded Netflix from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, October 23rd. Two 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 company’s stock. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $89.14.
View Our Latest Analysis on NFLX
Netflix Trading Up 2.0%
NASDAQ:NFLX opened at $64.54 on Thursday. The firm has a 50-day simple moving average of $70.00 and a 200-day simple moving average of $80.65. Netflix, Inc. has a one year low of $61.39 and a one year high of $116.73. The firm has a market cap of $265.02 billion, a P/E ratio of 18.65, a P/E/G ratio of 0.93 and a beta of 1.62. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.07.
Netflix (NASDAQ:NFLX – Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.87 billion. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $0.59 earnings per share. Equities analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current fiscal year.
Insider Buying and Selling
In other Netflix news, CEO Gregory K. Peters sold 27,312 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $63.62, for a total transaction of $1,737,589.44. Following the sale, the chief executive officer owned 119,412 shares of the company’s stock, valued at approximately $7,596,991.44. This trade represents a 18.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 5,727 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $64.55, for a total value of $369,677.85. Following the sale, the insider directly owned 166,100 shares in the company, valued at $10,721,755. This trade represents a 3.33% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 89,024 shares of company stock valued at $5,788,733 over the last ninety days. Company insiders own 1.24% of the company’s stock.
Top Netflix Stories
Here are a few of the latest stories about NFLX:
- Positive Sentiment: Netflix’s latest reported quarter showed EPS of $0.87, above the $0.82 consensus, while revenue grew 11.9% year over year. That growth and earnings performance offer some support amid the stock’s selloff.
- Positive Sentiment: A steep valuation reset has brought NFLX below 18 times earnings, which some investors may view as an attractive entry point if growth stabilizes. Article: Netflix trades under 18x earnings after a steep valuation reset
- Neutral Sentiment: A lender is marketing a loan tied to a Hollywood office campus fully leased to Netflix through 2031. The loan is associated with the property owner, Clarion Partners, rather than being reported as Netflix’s own debt. Article: Clarion Partners’ loan on Netflix-occupied Hollywood campus hits market
Netflix 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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