Verde Capital Management grew its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 37.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,807 shares of the Internet television network’s stock after purchasing an additional 16,189 shares during the quarter. Netflix makes up 1.2% of Verde Capital Management’s investment portfolio, making the stock its 15th largest position. Verde Capital Management’s holdings in Netflix were worth $5,750,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. First Financial Corp IN raised its stake in Netflix by 900.0% in the fourth quarter. First Financial Corp IN now owns 270 shares of the Internet television network’s stock valued at $25,000 after buying an additional 243 shares in the last quarter. DiNuzzo Private Wealth Inc. increased its holdings in shares of Netflix by 885.2% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 266 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 239 shares during the last quarter. Turning Point Benefit Group Inc. increased its holdings in shares of Netflix by 13,400.0% in the 4th quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 268 shares during the last quarter. Imprint Wealth LLC acquired a new stake in shares of Netflix during the 3rd quarter worth about $25,000. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of Netflix during the 4th quarter worth about $26,000. 80.93% of the stock is owned by hedge funds and other institutional investors.
Netflix Stock Performance
Shares of NFLX opened at $72.88 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.43. The firm has a market cap of $306.88 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 0.98 and a beta of 1.50. The company’s 50 day simple moving average is $88.30 and its 200-day simple moving average is $89.75. Netflix, Inc. has a 12-month low of $71.81 and a 12-month high of $134.12.
Analysts Set New Price Targets
NFLX has been the subject of a number of research analyst reports. President Capital upped their price target on Netflix from $133.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday, March 31st. China Renaissance boosted their price objective on shares of Netflix from $90.00 to $100.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. HSBC upped their target price on shares of Netflix from $106.00 to $114.00 and gave the company a “buy” rating in a report on Friday, April 10th. Guggenheim reiterated a “buy” rating and set a $120.00 price target on shares of Netflix in a research note on Friday, May 15th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Netflix in a research report on Thursday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.26.
Check Out Our Latest Stock Analysis on NFLX
Netflix News Roundup
Here are the key news stories impacting Netflix this week:
- Positive Sentiment: Netflix expanded its video podcast partnership with iHeartMedia, adding more iHeartPodcasts as video shows on the platform and strengthening its content offering. Netflix Expands Video Podcast Partnership with iHeartMedia
- Positive Sentiment: Netflix bought a “Hot Ones” spinoff, a content deal that reinforces its rivalry with YouTube and supports its push into popular creator-driven programming. Netflix Buys a ‘Hot Ones’ Spinoff
- Neutral Sentiment: Some commentary argues Netflix may look undervalued after the recent selloff, with analysts still seeing upside if the business continues to execute. Is Netflix Inc (NFLX) a Bargain After 5.8% Drop? GF Value Says Undervalued
- Negative Sentiment: Investor sentiment was hurt by reports that Netflix was outbid or passed over on major acquisition targets, fueling concern that the company is missing strategic growth opportunities. After Missing Out on Roku, Netflix Claims It Won’t Buy Lionsgate. Here’s Why the Market Hates That Answer.
- Negative Sentiment: Analysts and market commentators warned against “catching the falling knife,” reflecting concern that NFLX could remain under pressure after breaking to new lows. Netflix Stock Slump Continues: Citizens JMP Warns Against Catching the Falling Knife
Insider Buying and Selling
In other news, Director Bradford L. Smith sold 35,990 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $77.52, for a total value of $2,789,944.80. Following the completion of the sale, the director directly owned 79,690 shares of the company’s stock, valued at approximately $6,177,568.80. This represents a 31.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory K. Peters sold 27,312 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $88.69, for a total value of $2,422,301.28. Following the transaction, the chief executive officer directly owned 120,931 shares in the company, valued at approximately $10,725,370.39. This represents a 18.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,349,019 shares of company stock valued at $123,105,721 in the last quarter. Corporate insiders own 1.24% of the company’s stock.
Netflix Profile
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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