Penobscot Investment Management Company Inc. Makes New Investment in Netflix, Inc. $NFLX

Penobscot Investment Management Company Inc. purchased a new position in Netflix, Inc. (NASDAQ:NFLX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 306 shares of the Internet television network’s stock, valued at approximately $410,000.

A number of other hedge funds have also modified their holdings of the company. Yoder Wealth Management Inc. bought a new position in shares of Netflix in the second quarter worth approximately $253,000. AMF Tjanstepension AB boosted its position in shares of Netflix by 12.6% in the second quarter. AMF Tjanstepension AB now owns 106,515 shares of the Internet television network’s stock worth $142,637,000 after purchasing an additional 11,921 shares during the period. Sava Infond d.o.o. boosted its position in shares of Netflix by 25.1% in the second quarter. Sava Infond d.o.o. now owns 1,495 shares of the Internet television network’s stock worth $2,002,000 after purchasing an additional 300 shares during the period. LGT Fund Management Co Ltd. boosted its position in shares of Netflix by 246.7% in the second quarter. LGT Fund Management Co Ltd. now owns 1,595 shares of the Internet television network’s stock worth $2,136,000 after purchasing an additional 1,135 shares during the period. Finally, Apexium Financial LP boosted its position in shares of Netflix by 3.7% in the second quarter. Apexium Financial LP now owns 1,770 shares of the Internet television network’s stock worth $2,370,000 after purchasing an additional 63 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Piper Sandler upped their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Sanford C. Bernstein upped their target price on shares of Netflix from $1,200.00 to $1,390.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Citigroup restated a “neutral” rating and set a $1,295.00 target price (up previously from $1,280.00) on shares of Netflix in a research report on Friday. UBS Group restated a “market underperform” rating on shares of Netflix in a research report on Saturday, July 19th. Finally, Seaport Res Ptn lowered shares of Netflix from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,335.00.

Insider Buying and Selling

In related news, Director Reed Hastings sold 42,176 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the transaction, the director owned 394 shares of the company’s stock, valued at $461,736.48. This trade represents a 99.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Theodore A. Sarandos sold 2,026 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the completion of the transaction, the chief executive officer directly owned 15,168 shares in the company, valued at $17,604,284.16. This represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock worth $122,710,980 over the last ninety days. 1.37% of the stock is owned by insiders.

Netflix Trading Down 0.8%

Shares of NFLX opened at $1,153.32 on Friday. Netflix, Inc. has a twelve month low of $677.88 and a twelve month high of $1,341.15. The company has a market cap of $490.08 billion, a P/E ratio of 49.14, a P/E/G ratio of 1.94 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $1,207.36 and its 200-day simple moving average is $1,160.35.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.