As of the 2nd quarter of this year, Virtu Financial LLC has significantly increased its investment in Netflix, Inc. (NASDAQ:NFLX) by a staggering 2,045.8%. According to the company’s recent 13F filing with the Securities and Exchange Commission, Virtu Financial LLC now holds a total of 16,630 shares of Netflix stock, after purchasing an additional 15,855 shares during the quarter.
Netflix currently represents approximately 0.6% of Virtu Financial LLC’s investment portfolio and is ranked as the company’s 20th largest position. At the end of the reporting period, these holdings in Netflix were valued at $7,325,000.
In other news related to Netflix’s stock trading activity, Director Richard N. Barton recently sold 500 shares on Monday, October 9th. The average selling price per share was $378.05, resulting in a total transaction value of $189,025. Following this transaction, Mr. Barton now directly owns 152 shares in Netflix with an estimated value of approximately $57,463.60.
Similarly, CEO Theodore A. Sarandos also sold a significant amount of Netflix stock on Friday, August 4th. He disposed of 55,386 shares at an average price per share of $431.10. This resulted in a total transaction value of $23,876,904.60.
It is worth noting that both transactions were disclosed through filings with the SEC and can be accessed through their website for further details.
Additionally noteworthy is that this is not the first time Director Richard N. Barton has sold Netflix stock this year; he made another sale consisting of 500 shares on October 9th as well at an average price per share equal to $378.05.
Overall within ninety days alone – from July to October – insiders have collectively sold a substantial number of company shares totaling to 118,657. The total value of these sales amounts to $50,562,866. It is also interesting to note that insiders currently hold approximately 2.45% of the company’s stock.
These recent transactions depict a complex and dynamic trading environment for Netflix stock, with several key players making significant moves in their holdings. Investors and analysts may want to keep a close eye on future developments with regards to Netflix’s stock trading activity as it could indicate shifting perspectives or strategies within the company and its leadership.
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Modifications in Institutional Investment Landscape for Netflix: Analysis of Recent Changes and Analyst Ratings
The institutional investment landscape for Netflix has experienced recent modifications as several investors have made changes to their holdings of the company. Arete Wealth Advisors LLC, a financial advisory firm, purchased a new stake in Netflix during the first quarter valued at approximately $885,000. Similarly, Montecito Bank & Trust acquired a new stake in Netflix during the second quarter valued at about $226,000. Factory Mutual Insurance Co., on the other hand, increased its holdings in Netflix by 32.6% during the second quarter. The insurance company now owns 152,848 shares of Netflix’s stock valued at $67,328,000 after acquiring an additional 37,600 shares during that period. Furthermore, Old North State Trust LLC boosted its holdings in Netflix by 25.7% during the first quarter and currently owns 357 shares valued at $123,000 after acquiring an additional 73 shares.
Adding to this list is Advisory Resource Group which purchased a new stake in Netflix during the second quarter with a valuation of about $208,000. Altogether, institutional investors now own approximately 79.95% of the company’s stock.
Several research firms have provided their insights and recommendations regarding NFLX stock. Needham & Company LLC has maintained a “hold” rating on shares of Netflix based on their report released recently. Meanwhile, Piper Sandler reduced their price objective for Netflix from $440.00 to $400.00 and gave it a “neutral” rating.
Contrarily, Citigroup is more optimistic about Netflix’s prospects as they raised their price objective from $400.00 to $500.00 and rated the stock as a “buy.” Oppenheimer also recognizes favorable potential by maintaining an “outperform” rating for Netflix despite dropping their price objective from $515.00 to $470.00 in their report issued on September 22nd.
Joining these analysts’ opinions is Bank of America, who believes in the potential of Netflix and increased their price objective from $490.00 to $525.00, affirming a “buy” rating for the stock.
Considering the various analyst opinions, it is evident that two investment analysts have rated NFLX stock as a sell, fourteen have labeled it as hold, while twenty-five investment analysts believe buying it would be a prudent choice. Bloomberg.com reports that these varying opinions result in an overall consensus rating of “Moderate Buy” with a consensus target price of $432.23.
On Wednesday, Netflix stock experienced a decline of $7.07 and reached a trading value of $366.25. The company’s stock had a trading volume of 5,354,581 shares, which is slightly below its average volume of 6,800,809 shares. With a market capitalization of $162.30 billion and a price-to-earnings ratio of 39.31, Netflix attracts significant attention from investors. Additionally, its P/E/G ratio stands at 1.43 while its beta is calculated at 1.31.
Analyzing the more traditional indicators for the company reveals some interesting figures as well. The fifty-day simple moving average for Netflix sits at $410.97 whereas its two-hundred-day simple moving average is recorded at $393.58.
Netflix disclosed its quarterly earnings results on July 19th where it reported earnings per share (EPS) amounting to $3.29 for the quarter – surpassing analysts’ expectations by $0.44 or approximately 16%. During this period, the firm achieved revenue worth $8.19 billion compared to the consensus estimate which was marginally higher at $8.29 billion.
Looking at key financial metrics such as return on equity (ROE), Netflix demonstrated impressive performance boasting an ROE of 19.76% along with a net margin of 13.22%. Additionally, the company’s revenue for the quarter witnessed an increase of 2.7% year-over-year. In the same quarter of the previous year, Netflix had posted EPS of $3.20.
Equities analysts foresee Netflix, Inc. reporting earnings per share of 11.91 for the current fiscal year.
In conclusion, institutional investors have made notable modifications to their holdings of Netflix, resulting in a substantial ownership percentage by this group. The consensus rating from research firms indicates a mixed sentiment surrounding NFLX stock, ranging from sell to buy ratings. Despite mild fluctuations in its stock and trading volume, Netflix remains an intriguing investment option as it displays consistent financial performance and initiatives for future growth according to equities analysts’ expectations. Investors seeking to capitalize on this opportunity may wish to keep a close eye on Netflix’s performance in the coming months.
