Netflix, Inc. $NFLX Shares Bought by Davis R M Inc.

Davis R M Inc. grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 303,508 shares of the Internet television network’s stock after buying an additional 19,531 shares during the quarter. Davis R M Inc.’s holdings in Netflix were worth $29,182,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Netflix by 912.5% during 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 acquiring an additional 351,493,659 shares during the last quarter. State Street Corp increased its position in shares of Netflix by 927.6% in the 4th quarter. State Street Corp now owns 176,780,995 shares of the Internet television network’s stock worth $16,574,986,000 after purchasing an additional 159,578,053 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Netflix by 892.0% in the 4th 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. Capital World Investors grew its stake 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 in the last quarter. Finally, Morgan Stanley increased its holdings in Netflix by 903.0% in the fourth quarter. Morgan Stanley now owns 85,349,973 shares of the Internet television network’s stock valued at $8,002,414,000 after buying an additional 76,840,318 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

NFLX stock opened at $68.53 on Thursday. The company has a market capitalization of $285.35 billion, a P/E ratio of 21.57, a PEG ratio of 0.86 and a beta of 1.52. The company has a 50-day simple moving average of $79.04 and a 200 day simple moving average of $86.31. Netflix, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $126.71. The company has a quick ratio of 1.41, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating 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 firm had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter last year, the company earned $0.72 EPS. Netflix’s quarterly revenue was up 13.4% 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.

Analyst Ratings Changes

Several analysts have issued reports on NFLX shares. Deutsche Bank Aktiengesellschaft set a $110.00 price objective on Netflix in a research note on Monday. Barclays decreased their target price on Netflix from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, July 17th. Jefferies Financial Group dropped their price target on Netflix from $128.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, June 10th. UBS Group dropped their price target on Netflix from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. Finally, Oppenheimer set a $85.00 price objective on Netflix and gave the stock an “outperform” rating in a research note on Friday, July 17th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.48.

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Negative Sentiment: Netflix’s Q2 results beat EPS expectations, but revenue came in slightly below consensus and management signaled growth could slow to around 12% in Q3, raising concerns about momentum. Netflix Has Plummeted Over the Past Year and Just Dropped Again on Earnings. At 22 Times Profits, Is It a Buy?
• Negative Sentiment: Investors are also reacting to a “valuation reset” and weaker transparency after Netflix said it will report key viewership metrics less often, making it harder to measure progress. Is Netflix Asking Investors To Trust A Story It Will No Longer Tell?
• Negative Sentiment: The selloff has been amplified by bearish calls and articles arguing that sentiment remains weak, with some analysts saying the stock still has room to fall despite the recent drop. ‘Scratching the Surface,’ Says Top Investor About Netflix Stock
• Negative Sentiment: Netflix also completed a $1 billion senior notes offering to refinance debt, which is financially prudent but may reinforce the market’s focus on capital structure rather than growth. Netflix Issues $1 Billion Senior Notes to Refinance Debt

Insiders Place Their Bets

In related news, CEO Theodore A. Sarandos sold 27,312 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total transaction of $2,402,636.64. Following the sale, the chief executive officer owned 284,804 shares of the company’s stock, valued at $25,054,207.88. The trade was a 8.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Adam Neumann sold 9,253 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $88.95, for a total value of $823,054.35. Following the completion of the sale, the chief financial officer owned 73,787 shares of the company’s stock, valued at $6,563,353.65. This trade represents a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 899,839 shares of company stock valued at $80,141,661. 1.24% of the stock is currently owned by insiders.

Netflix Company 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.