United Bank Purchases Shares of 23,005 Netflix, Inc. $NFLX

United Bank purchased a new position in Netflix, Inc. (NASDAQ:NFLX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,005 shares of the Internet television network’s stock, valued at approximately $1,643,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Netflix by 912.5% in the fourth quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock worth $36,567,805,000 after purchasing an additional 351,493,659 shares during the last quarter. BlackRock Inc. bought a new position in Netflix during the second quarter valued at approximately $24,902,221,000. State Street Corp boosted its stake 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 buying an additional 159,578,053 shares during the last quarter. Geode Capital Management LLC grew its holdings in Netflix by 892.0% during 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 buying an additional 89,558,684 shares in the last quarter. Finally, Capital World Investors grew its holdings in Netflix by 859.1% during the 4th quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock valued at $8,376,656,000 after buying an additional 80,025,890 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In related news, Director Reed Hastings sold 386,700 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $85.97, for a total transaction of $33,244,599.00. Following the transaction, the director directly owned 3,940 shares in the company, valued at approximately $338,721.80. This represents a 98.99% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $73.54, for a total transaction of $2,008,524.48. Following the completion of the sale, the chief executive officer directly 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 SEC filing for this sale provides additional information. Insiders sold 600,295 shares of company stock worth $49,056,671 in the last 90 days. Company insiders own 1.24% of the company’s stock.

Netflix Stock Up 3.2%

Shares of NFLX opened at $80.22 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $74.43 and a 200 day moving average of $84.39. The company has a market cap of $334.03 billion, a PE ratio of 25.25, a P/E/G ratio of 0.98 and a beta of 1.52. Netflix, Inc. has a 52-week low of $65.08 and a 52-week high of $126.71.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts expect that Netflix, Inc. will post 3.59 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NFLX shares. Moffett Nathanson reduced their price objective on Netflix from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 17th. China Intl Cap upgraded Netflix to a “strong-buy” rating in a research report on Tuesday, July 21st. Jefferies Financial Group cut their target price on shares of Netflix from $128.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, June 10th. JPMorgan Chase & Co. reduced their price target on shares of Netflix from $118.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Finally, Wells Fargo & Company set a $80.00 price target on shares of Netflix and gave the company an “equal weight” rating in a research note on Friday, July 17th. Four research 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.48.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman returns: Pershing Square disclosed a roughly 4.9% portfolio position in Netflix, reversing its earlier exit at a reported loss of about $400 million. Ackman’s renewed conviction reflects expectations for double-digit revenue growth, margin expansion and continued streaming leadership. What’s Going On With Netflix Stock Wednesday?
• Positive Sentiment: Advertising remains a growth catalyst: Analysts highlighted Netflix’s rapidly scaling ad-supported business, including new advertising tools and live programming that could help generate billions in ad revenue and support longer-term revenue expansion. NFLX’s Ad Business Focus
• Positive Sentiment: Valuation attracts bargain hunters: With the stock down about 43% from its peak and trading near 21 times forward earnings, investors are comparing Netflix’s valuation with prior major pullbacks and arguing that the risk-reward profile has improved. Several commentators and CNBC’s Jason Snipe also endorsed the shares. Netflix Trades at 21 Times Forward Earnings
• Neutral Sentiment: Broader market rotation helped: Netflix participated in a shift away from semiconductor stocks and toward beaten-down software and technology shares. This suggests part of the move reflected sector positioning rather than a new company-specific operating announcement. Netflix, Salesforce, and Adobe Rally
• Negative Sentiment: Copyright lawsuit adds risk: The band Demon Hunter sued Netflix over the title and alleged intellectual-property issues involving KPop Demon Hunters. The legal action introduces potential costs and reputational risk, although its financial impact is currently unclear. Netflix sued by band Demon Hunter

About Netflix

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.