On October 8, 2023, it was reported that WP Advisors LLC, a financial advisory firm, had reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.4% during the second quarter of the year. This information was obtained from WP Advisors LLC’s most recent filing with the Securities and Exchange Commission (SEC). According to the filing, the firm sold 813 shares of Netflix stock during this period, resulting in a total of 23,037 shares remaining in their portfolio.
When assessing the composition of WP Advisors LLC’s portfolio, it becomes clear that Netflix accounts for 4.1% of their holdings, making it their seventh largest position. As of the most recent SEC filing, these shares were valued at $10,148,000.
Looking back at Netflix’s quarterly earnings data from July 19th, it is evident that the company performed well during that period. The Internet television network reported earnings per share (EPS) of $3.29 for the quarter, surpassing analysts’ consensus estimate of $2.85 by $0.44. Additionally, Netflix generated revenue amounting to $8.19 billion during this timeframe.
Although slightly lower than analysts’ expectations of $8.29 billion in revenue for the quarter, Netflix still experienced a growth rate of 2.7% compared to the previous year’s performance within the same timeframe.
Furthermore, Netflix demonstrated a return on equity of 19.76% and a net margin of 13.22%, indicating healthy profitability and efficiency within its operations.
In comparison to the previous year’s figures for the same quarter when Netflix recorded an EPS of $3.20; this year’s performance demonstrated growth in terms of earnings per share.
With all these factors combined, equities analysts are optimistic about Netflix’s future prospects and anticipate that it will post EPS amounting to approximately 11.91 for the current year.
As WP Advisors LLC adjusts its holdings in Netflix, it is evident that they are making strategic decisions based on their assessment of the company’s performance and outlook. And with Netflix reporting positive earnings figures, it is clear why the Internet television network remains an attractive investment option for many investors.
Please note that this article is based on information available as of October 8, 2023, and any future developments or changes may not be reflected in this analysis.
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Institutional Investors Show Growing Interest in Netflix as Stock Gains Surge
October 8, 2023 – Netflix, the popular internet television network, has seen a significant increase in its stake from various institutional investors and hedge funds. Baldrige Asset Management LLC recently raised its stake in Netflix by an astonishing 156.3% during the first quarter of this year. In addition, Barrett & Company Inc. purchased a new stake in the company valued at $29,000 during the same period.
Retirement Group LLC also witnessed a substantial gain of 52.6% in its position with Netflix during the first quarter, while Manchester Capital Management LLC experienced an extraordinary surge of 8,700.0%. Silicon Valley Capital Partners was not far behind with an increase of 80.0%. These statistics demonstrate a burgeoning interest among institutional investors in Netflix, as they now hold ownership of approximately 79.95% of the company’s stock.
Several equities research analysts have provided their insights on Netflix, offering varying perspectives on the company’s performance and potential future outcomes. Pivotal Research raised their target price on Netflix from $535.00 to $600.00, while Barclays increased theirs from $250.00 to $375.00.
Robert W. Baird upgraded their rating for Netflix from “neutral” to “outperform,” with a revised price target of $500.00. Wolfe Research also adjusted their price target to $500 while Wedbush reiterated an “outperform” rating with a target price of $525.
According to Bloomberg, analysts collectively rated Netflix as “Moderate Buy,” suggesting an optimistic outlook for the company’s prospects moving forward. The average consensus target price stands at approximately $432.29.
In terms of recent developments relating to executive activities within the company, CEO Theodore A. Sarandos sold 55,386 shares of Netflix stock on August 4th for a total value exceeding $23 million at an average price per share of $431.10. Director Jay C. Hoag also sold 943 shares of the company’s stock on July 13th, amounting to a total value of $424,350. Following this transaction, Hoag now holds approximately 421,491 shares in Netflix with an estimated value exceeding $189 million.
These insider selling activities were disclosed in legal filings with the Securities & Exchange Commission (SEC). The complete details regarding these transactions can be accessed through the SEC website. Overall, insiders sold a total of 118,657 shares valued at $50.6 million in the last quarter alone. Currently, company insiders hold approximately 2.45% of Netflix’s stock.
As of Friday’s opening price, Netflix stock began trading at $381.51. With a market capitalization of $169.07 billion and a PE ratio of 40.63, it maintains a beta value of 1.31 and PEG ratio of 1.27.
The company’s 50-day simple moving average stands at $413.33, while its two-hundred day simple moving average is slightly lower at $392.11.
Netflix has demonstrated remarkable resilience with its fifty-two week low reaching $211.73 and its high soaring to $485.
Note: All information is accurate as of October 8th, 2023