Renasant Bank Acquires New Stake in Netflix, Inc. $NFLX

Renasant Bank acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 9,917 shares of the Internet television network’s stock, valued at approximately $690,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Netflix during the 2nd quarter worth approximately $24,902,221,000. State Street Corp increased its holdings in Netflix by 4.9% during the 2nd quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock valued at $12,861,252,000 after purchasing an additional 8,474,820 shares in the last quarter. Bank of America Corp DE increased its holdings in Netflix by 4.3% during the 1st quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network’s stock valued at $5,571,201,000 after purchasing an additional 2,376,349 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Netflix during the 2nd quarter valued at $1,906,482,000. Finally, Legal & General Group Plc bought a new position in Netflix in the 2nd quarter valued at $1,886,526,000. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NFLX. Oppenheimer reissued an “outperform” rating and issued a $80.00 price objective (down from $85.00) on shares of Netflix in a research note on Wednesday, October 21st. UBS Group set a $90.00 target price on Netflix in a report on Wednesday, October 21st. Robert W. Baird set a $90.00 target price on Netflix and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group set a $85.00 price target on Netflix and gave the company a “buy” rating in a report on Thursday, October 15th. Finally, CICC Research cut their price target on Netflix from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.14.

Insider Buying and Selling

In other news, CEO Theodore A. Sarandos sold 27,312 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $66.20, for a total transaction 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. The trade was a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Hyman sold 5,727 shares of the company’s 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 89,024 shares of company stock worth $5,788,733. 1.24% of the stock is currently owned by company insiders.

Netflix Stock Performance

Shares of Netflix stock opened at $63.26 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $259.77 billion, a P/E ratio of 18.28, a P/E/G ratio of 0.94 and a beta of 1.62. The firm has a 50 day simple moving average of $70.32 and a 200 day simple moving average of $80.76. Netflix, Inc. has a fifty-two week low of $61.39 and a fifty-two week high of $116.73.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The firm had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.87 billion. During the same quarter in the previous year, the company posted $0.59 EPS. Netflix’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Key Headlines 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

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.