Summitry LLC Acquires 260,248 Shares of Netflix, Inc. $NFLX

Summitry LLC grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 79.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 587,347 shares of the Internet television network’s stock after acquiring an additional 260,248 shares during the quarter. Netflix accounts for approximately 2.0% of Summitry LLC’s investment portfolio, making the stock its 15th largest position. Summitry LLC’s holdings in Netflix were worth $56,473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Netflix by 912.5% during the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock valued at $36,567,805,000 after purchasing an additional 351,493,659 shares during the last quarter. State Street Corp lifted its stake in Netflix by 927.6% in the 4th quarter. State Street Corp now owns 176,780,995 shares of the Internet television network’s stock valued at $16,574,986,000 after purchasing an additional 159,578,053 shares during the last quarter. Geode Capital Management LLC lifted its stake in Netflix by 892.0% in 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 purchasing an additional 89,558,684 shares during the last quarter. Capital World Investors boosted its position in Netflix by 859.1% in the fourth 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. Finally, Morgan Stanley boosted its position in Netflix by 903.0% in the fourth quarter. Morgan Stanley now owns 85,349,973 shares of the Internet television network’s stock valued at $8,002,414,000 after buying an additional 76,840,318 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research reports. Wolfe Research reaffirmed an “outperform” rating and set a $107.00 target price on shares of Netflix in a research note on Friday, April 17th. Moffett Nathanson dropped their price target on Netflix from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, June 17th. TD Cowen cut their price objective on Netflix from $112.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 17th. KGI Securities lowered Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 price objective on the stock. in a research report on Friday, July 17th. Finally, Stephens began coverage on Netflix in a report on Friday, July 17th. They issued an “overweight” rating for the company. 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 assigned a Sell rating to the stock. According to MarketBeat, Netflix presently has a consensus 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: Netflix agreed to a five-year, approximately $500 million licensing deal covering all 371 episodes of The Walking Dead universe in international markets. The agreement strengthens Netflix’s global content lineup and adds a recognizable franchise beginning in 2027. Los Angeles Times article
• Positive Sentiment: Walmart-owned Flipkart is offering qualifying loyalty members a monthly Netflix mobile subscription after four orders in a month. The partnership could support customer acquisition and engagement in India, although the direct financial impact appears limited. Reuters article

Netflix Trading Down 2.0%

NFLX opened at $71.71 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. Netflix, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $126.71. The company’s 50 day moving average price is $76.66 and its two-hundred day moving average price is $85.41. The firm has a market capitalization of $298.60 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 0.92 and a beta of 1.52.

Netflix (NASDAQ:NFLX) last released its quarterly 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 firm had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Bradford L. Smith sold 35,990 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total transaction of $2,789,944.80. Following the completion of the transaction, the director directly owned 79,690 shares in the company, valued at $6,177,568.80. This trade represents a 31.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory K. Peters sold 27,312 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $88.69, for a total value of $2,422,301.28. Following the transaction, the chief executive officer owned 120,931 shares of the company’s stock, valued at $10,725,370.39. This trade represents a 18.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 492,289 shares of company stock valued at $42,186,530 over the last ninety days. 1.24% of the stock is currently owned by corporate insiders.

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.