HBK Sorce Advisory LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 900.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 60,822 shares of the Internet television network’s stock after acquiring an additional 54,741 shares during the period. HBK Sorce Advisory LLC’s holdings in Netflix were worth $5,703,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of NFLX. Vanguard Group Inc. raised its position in Netflix by 912.5% in the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock worth $36,567,805,000 after purchasing an additional 351,493,659 shares during the last quarter. Baillie Gifford & Co. raised its position in Netflix by 912.3% in the 4th quarter. Baillie Gifford & Co. now owns 36,940,035 shares of the Internet television network’s stock worth $3,463,498,000 after purchasing an additional 33,290,988 shares during the last quarter. Jennison Associates LLC raised its position in Netflix by 639.9% in the 4th quarter. Jennison Associates LLC now owns 34,871,951 shares of the Internet television network’s stock worth $3,269,594,000 after purchasing an additional 30,158,900 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Netflix by 891.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 12,099,908 shares of the Internet television network’s stock worth $1,134,487,000 after purchasing an additional 10,879,276 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Netflix by 850.7% in the 4th quarter. Principal Financial Group Inc. now owns 10,858,157 shares of the Internet television network’s stock worth $1,018,062,000 after purchasing an additional 9,716,017 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.
Netflix Price Performance
NFLX opened at $88.60 on Monday. 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 $75.01 and a 12 month high of $134.12. The company has a fifty day simple moving average of $93.88 and a 200 day simple moving average of $93.93. The stock has a market cap of $373.08 billion, a P/E ratio of 28.62, a P/E/G ratio of 1.13 and a beta of 1.55.
Insiders Place Their Bets
In related news, Director Reed Hastings sold 407,550 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $93.13, for a total value of $37,955,131.50. Following the completion of the sale, the director owned 3,940 shares in the company, valued at $366,932.20. This represents a 99.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory K. Peters sold 27,312 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 120,931 shares of the company’s stock, valued at approximately $10,725,370.39. This represents a 18.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,422,769 shares of company stock worth $135,144,073 over the last 90 days. 1.24% of the stock is currently owned by corporate insiders.
Key Headlines Impacting Netflix
Here are the key news stories impacting Netflix this week:
- Positive Sentiment: Netflix’s ad-supported tier has surpassed 250 million monthly viewers, reinforcing the company’s advertising growth story and supporting the bull case for future revenue expansion. Netflix ad-supported tier tops 250M monthly viewers as sports push deepens
- Positive Sentiment: Netflix is deepening its partnership with iHeartMedia by streaming “The Breakfast Club” live daily, a sign it is pushing further into live and podcast-style programming that could broaden engagement and ad inventory. iHeartMedia and Netflix Deepen Partnership with Daily Live Video Stream of The Breakfast Club
- Positive Sentiment: CNBC highlighted Netflix as a “final trade,” suggesting some short-term trading interest from market watchers. IBM, ServiceNow, Netflix And A Basic Materials Stock: CNBC’s ‘Final Trades’
- Neutral Sentiment: BetterInvesting questioned whether Netflix is fairly valued after its recent report, which keeps the stock in “show-me” territory even after strong earnings and revenue growth. BetterInvesting™ Magazine Update on Netflix (NASDAQ: NFLX) and ExlService Holdings Inc. (NASDAQ: EXLS)
- Neutral Sentiment: Analyst commentary noted Netflix as a possible suitor if IMAX is sold, but this is speculative and not a confirmed deal driver. IMAX Potential Suitors Include Netflix, Apple, Wedbush Says
- Negative Sentiment: Canada’s new streaming rules would require Netflix to contribute a larger share of domestic revenue to Canadian content, raising compliance costs for the business. Canada Raises Streaming Content Requirement to 15% for Netflix, Disney, Amazon
- Negative Sentiment: Separate reporting also flagged higher costs from the same Canadian policy change, adding a modest regulatory headwind for Netflix and other streamers. Netflix, Spotify to face higher costs as CRTC changes rules
Wall Street Analyst Weigh In
Several research analysts recently weighed in on NFLX shares. Seaport Research Partners boosted their price objective on shares of Netflix from $115.00 to $119.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Daiwa Securities Group boosted their price objective on shares of Netflix from $97.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. DZ Bank reiterated a “buy” rating on shares of Netflix in a research report on Friday, April 17th. Barclays set a $110.00 target price on shares of Netflix and gave the company an “equal weight” rating in a research report on Friday, April 17th. Finally, President Capital upped their target price on shares of Netflix from $133.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.82.
Read Our Latest Analysis on NFLX
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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