OLD National Bancorp IN Grows Position in Netflix, Inc. $NFLX

OLD National Bancorp IN increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 269.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,882 shares of the Internet television network’s stock after acquiring an additional 8,666 shares during the quarter. OLD National Bancorp IN’s holdings in Netflix were worth $15,912,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC lifted its position in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after buying an additional 13 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Netflix during the first quarter valued at about $37,000. Maseco LLP purchased a new stake in shares of Netflix during the second quarter valued at about $39,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix during the first quarter valued at about $42,000. Finally, 1248 Management LLC purchased a new stake in shares of Netflix during the first quarter valued at about $43,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Reed Hastings sold 42,176 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the transaction, the director owned 394 shares in the company, valued at $461,736.48. This trade represents a 99.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 424 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the transaction, the insider owned 31,610 shares in the company, valued at $36,625,558.70. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,100 shares of company stock worth $122,710,980. Insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of several analyst reports. UBS Group reissued a “market underperform” rating on shares of Netflix in a research report on Saturday, July 19th. Zacks Research lowered shares of Netflix from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. Wedbush reissued an “outperform” rating and set a $1,500.00 price target (up from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Netflix in a research report on Saturday, September 27th. Finally, TD Cowen increased their price objective on shares of Netflix from $1,440.00 to $1,450.00 and gave the company a “buy” rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,335.00.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,153.32 on Friday. The stock has a market capitalization of $490.08 billion, a price-to-earnings ratio of 49.14, a PEG ratio of 1.94 and a beta of 1.59. Netflix, Inc. has a 12 month low of $677.88 and a 12 month high of $1,341.15. The firm’s 50 day simple moving average is $1,207.36 and its 200-day simple moving average is $1,160.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter last year, the firm posted $4.88 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.