Westpac Banking Corp Invests $4.02 Million in Netflix, Inc. $NFLX

Westpac Banking Corp bought a new position in Netflix, Inc. (NASDAQ:NFLX) during the second quarter, Holdings Channel reports. The firm bought 56,365 shares of the Internet television network’s stock, valued at approximately $4,024,000.

Several other institutional investors have also added to or reduced their stakes in NFLX. Turning Point Benefit Group Inc. boosted its position in shares of Netflix by 13,400.0% during 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 purchased a new position in shares of Netflix in the third quarter valued at $25,000. Cornerstone Financial Management LLC bought a new stake in Netflix in the fourth quarter worth $26,000. Atlas Capital Advisors Inc. purchased a new stake in Netflix during the fourth quarter valued at $26,000. Finally, Jessup Wealth Management Inc bought a new position in Netflix during the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NFLX. Bank of America restated a “buy” rating and issued a $125.00 target price on shares of Netflix in a report on Monday, May 18th. Citic Securities lifted their price target on Netflix from $95.00 to $107.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. Phillip Securities raised Netflix from a “moderate buy” rating to a “strong-buy” rating in a research note on Sunday, July 19th. Oppenheimer set a $85.00 price objective on Netflix and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, Rosenblatt Securities set a $75.00 target price on Netflix and gave the stock a “neutral” rating in a report on Friday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $103.48.

Netflix Stock Performance

Netflix stock opened at $79.59 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $331.41 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 1.01 and a beta of 1.52. Netflix, Inc. has a 1-year low of $65.08 and a 1-year high of $126.71. The company’s 50-day moving average is $74.39 and its 200 day moving average is $84.34.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. The business had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. Research analysts forecast that Netflix, Inc. will post 3.59 EPS for the current year.

Insider Activity

In other Netflix news, CEO Gregory K. Peters sold 27,312 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $73.54, for a total value of $2,008,524.48. Following the sale, the chief executive officer owned 120,931 shares in the company, valued at $8,893,265.74. This trade represents a 18.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 9,248 shares of Netflix 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 sale, the chief financial officer 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 600,295 shares of company stock worth $49,056,671 in the last three months. Corporate insiders own 1.24% of the company’s stock.

Trending Headlines about 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.