Netflix, Inc. $NFLX Stock Sold by M&G PLC

M&G PLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 68.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,646 shares of the Internet television network’s stock after selling 36,943 shares during the period. M&G PLC’s holdings in Netflix were worth $1,165,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Netflix in the second quarter valued at about $24,902,221,000. State Street Corp raised its stake in Netflix by 4.9% during the second quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock worth $12,861,252,000 after acquiring an additional 8,474,820 shares in the last quarter. Bank of America Corp DE raised its stake in Netflix by 4.3% during the first quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network’s stock worth $5,571,201,000 after acquiring an additional 2,376,349 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Netflix in the second quarter worth about $1,906,482,000. Finally, Legal & General Group Plc bought a new position in shares of Netflix in the second quarter worth about $1,886,526,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NFLX. New Street Research raised their price target on shares of Netflix from $96.00 to $102.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. China Intl Cap upgraded shares of Netflix to a “strong-buy” rating in a research report on Tuesday, July 21st. Daiwa Securities Group decreased their target price on shares of Netflix from $102.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 22nd. William Blair reaffirmed an “outperform” rating on shares of Netflix in a research note on Wednesday, October 21st. Finally, Needham & Company LLC downgraded shares of Netflix from a “buy” rating to a “hold” rating in a report on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.14.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 27,312 shares of Netflix stock in a transaction on Monday, November 9th. The shares were sold at an average price of $63.62, for a total transaction of $1,737,589.44. Following the transaction, the chief executive officer owned 119,412 shares in the company, valued at approximately $7,596,991.44. The trade was a 18.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Theodore A. Sarandos sold 27,312 shares of Netflix 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 transaction, the chief executive officer owned 178,954 shares in the company, valued at approximately $11,846,754.80. This trade represents a 13.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 89,024 shares of company stock worth $5,788,733. 1.24% of the stock is currently owned by insiders.

Netflix News Summary

Investors following NFLX have been watching these news items:

• Positive Sentiment: A steep valuation reset has brought NFLX below 18 times earnings, which some investors may view as an attractive entry point if growth stabilizes. Article: Netflix trades under 18x earnings after a steep valuation reset
• Neutral Sentiment: Netflix expects about $12 billion in free cash flow this year and has spent more than $10.7 billion on share repurchases through September. The company has not announced a dividend, so returns to shareholders are currently centered on buybacks. Article: Will Netflix Ever Pay a Dividend?
• Neutral Sentiment: A lender is marketing a loan tied to a Hollywood office campus fully leased to Netflix through 2031. The loan is associated with the property owner, Clarion Partners, rather than being reported as Netflix’s own debt. Article: Clarion Partners’ loan on Netflix-occupied Hollywood campus hits market

Netflix Stock Performance

Netflix stock opened at $64.54 on Thursday. The business has a 50 day moving average of $70.00 and a 200-day moving average of $80.65. Netflix, Inc. has a 1 year low of $61.39 and a 1 year high of $116.73. 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 company has a market capitalization of $265.02 billion, a P/E ratio of 18.65, a P/E/G ratio of 0.93 and a beta of 1.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The business had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.87 billion. During the same quarter last year, the business earned $0.59 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

Netflix Profile

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.