Westpac Banking Corp Buys Shares of 56,365 Netflix, Inc. $NFLX

Westpac Banking Corp purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 56,365 shares of the Internet television network’s stock, valued at approximately $4,024,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Netflix by 912.5% in the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock valued at $36,567,805,000 after purchasing an additional 351,493,659 shares during the period. BlackRock Inc. acquired a new stake in shares of Netflix in the 2nd quarter valued at approximately $24,902,221,000. State Street Corp grew its holdings in Netflix by 927.6% during the fourth quarter. State Street Corp now owns 176,780,995 shares of the Internet television network’s stock valued at $16,574,986,000 after purchasing an additional 159,578,053 shares during the period. Geode Capital Management LLC increased its stake in Netflix by 892.0% in the fourth quarter. Geode Capital Management LLC now owns 99,598,678 shares of the Internet television network’s stock valued at $9,305,336,000 after purchasing an additional 89,558,684 shares in the last quarter. Finally, Capital World Investors raised its holdings in Netflix by 859.1% in the fourth quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock worth $8,376,656,000 after purchasing an additional 80,025,890 shares during the period. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of recent analyst reports. Barclays lowered their price objective on shares of Netflix from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, July 17th. KGI Securities downgraded shares of Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 target price for the company. in a research note on Friday, July 17th. Phillip Securities upgraded Netflix from a “moderate buy” rating to a “strong-buy” rating in a research report on Sunday, July 19th. Oppenheimer set a $85.00 target price on shares of Netflix and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, Sanford C. Bernstein set a $95.00 price target on Netflix and gave the company an “outperform” rating in a research report on Friday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.48.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 9,248 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $75.79, for a total value of $700,905.92. Following the transaction, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at approximately $5,592,316.73. This trade represents a 11.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 5,723 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $72.85, for a total value of $416,920.55. Following the completion of the transaction, the insider owned 316,100 shares in the company, valued at $23,027,885. The trade was a 1.78% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 600,295 shares of company stock worth $49,056,671. Company insiders own 1.24% of the company’s stock.

Netflix Stock Performance

NASDAQ NFLX opened at $79.59 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $126.71. The firm has a market cap of $331.41 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.01 and a beta of 1.52. The company has a 50-day simple moving average of $74.39 and a two-hundred day simple moving average of $84.34.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, topping the consensus estimate of $0.79 by $0.01. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The business had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. During the same period in the prior year, the business earned $0.72 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities analysts forecast that Netflix, Inc. will post 3.59 EPS for the current year.

Key Headlines Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix continues to grow faster than many streaming rivals, and its lower valuation after the selloff could provide significant upside if revenue, advertising and engagement trends remain strong. A valuation model described the current setup as potentially asymmetric in investors’ favor. Netflix Is Down 40% From Its All-Time High Could Netflix Stock Double From Here?
• Positive Sentiment: JPMorgan analyst Doug Anmuth maintained an Overweight rating and an $85 price target, citing Netflix’s content pipeline and multiple initiatives to support engagement and revenue growth. The view suggests potential upside from current levels, although the analyst sees no single catalyst guaranteeing acceleration. Netflix Has No Single Silver Bullet
• Positive Sentiment: Netflix’s advertising-supported tier and broad content offering could make the company relatively resilient during a recession, as consumers may retain lower-cost entertainment subscriptions even amid economic pressure. Which Streaming Stock Would Hold Up Better in a Recession?
• Neutral Sentiment: Representatives for Meghan of Sussex reportedly held exploratory discussions about a possible role in a third season of The Gentlemen. Netflix has not ordered the season, so the potential casting has no immediate financial impact. Meghan of Sussex Eyes Role in Netflix Show The Gentlemen
• Negative Sentiment: With Netflix no longer emphasizing subscriber numbers, investors must rely more heavily on revenue growth, advertising performance, engagement and profitability metrics. That makes it harder to assess momentum and contributes to debate over whether the stock’s decline reflects a bargain or slowing growth. Netflix Is Down 40% From Its All-Time High
• Negative Sentiment: YouTube is reportedly offering creators substantial payments and warning that simultaneous Netflix deals could jeopardize marketing support and brand-campaign revenue. This could intensify competition for exclusive content and creator attention. YouTube Offers Creators Millions to Avoid Netflix Deals

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.