528,610 Shares in Netflix, Inc. $NFLX Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 528,610 shares of the Internet television network’s stock, valued at approximately $37,743,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NFLX. Imprint Wealth LLC purchased a new position in shares of Netflix during the third quarter valued at approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in Netflix in the fourth quarter worth $26,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Netflix in the second quarter worth $26,000. Atlas Capital Advisors Inc. purchased a new stake in Netflix in the fourth quarter worth $26,000. Finally, Jessup Wealth Management Inc bought a new stake in Netflix in the fourth quarter valued at $27,000. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 27,312 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $73.54, for a total value of $2,008,524.48. Following the sale, the chief executive officer directly owned 120,931 shares of the company’s stock, valued at $8,893,265.74. The trade was a 18.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Theodore A. Sarandos sold 27,312 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $73.35, for a total value of $2,003,335.20. Following the completion of the sale, the chief executive officer directly owned 178,954 shares in the company, valued at approximately $13,126,275.90. This represents a 13.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 213,595 shares of company stock valued at $15,812,072. Insiders own 1.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on NFLX. Loop Capital decreased their price objective on shares of Netflix from $115.00 to $95.00 and set a “buy” rating for the company in a report on Friday, July 24th. Rothschild & Co Redburn cut their target price on shares of Netflix from $120.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft set a $110.00 price target on shares of Netflix in a research report on Monday, July 20th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Netflix in a research note on Thursday, August 20th. Finally, TD Cowen lowered their price objective on shares of Netflix from $112.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.65.

Key Headlines Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman’s Pershing Square reportedly sold its Alphabet position and purchased approximately 13.1 million Netflix shares in the second quarter, signaling confidence in Netflix’s long-term growth and cash-generation potential. Bill Ackman Dumps Alphabet for Netflix
• Positive Sentiment: Analyst and market commentary points to a possible recovery driven by upcoming content releases, a reported Wolfe Research price target of $95, and a median target of $115 from analysts tracked by Quiver Quantitative. Netflix Recovery and Partnerships
• Positive Sentiment: Netflix’s latest U.K. price increases, including a rise in the ad-supported plan from £5.99 to £7.99 per month, could lift average revenue per member. Historical price increases have reportedly been followed by continued annual revenue growth. Netflix U.K. Price Increase
• Neutral Sentiment: Shares have declined roughly 38% to 40% over the past year, making the valuation more appealing to some investors, but debate remains whether the lower price reflects a buying opportunity or slowing growth. Netflix Stock Price Outlook
• Neutral Sentiment: Netflix’s lack of a dividend makes it less attractive to income investors, although bullish analysts argue that reinvesting cash into content and growth offers better long-term potential. Why Own Netflix Without a Dividend
• Negative Sentiment: The main near-term catalyst weighing on NFLX is the reported Q2 revenue miss and weak Q3 outlook, which raised concerns about slowing subscriber and advertising momentum. Netflix Stock Drops
• Negative Sentiment: Quiver Quantitative reports that Netflix insiders made 24 open-market sales and no purchases during the past six months, a potential confidence signal investors may monitor. Netflix Insider Trading Activity

Netflix Price Performance

NASDAQ:NFLX opened at $78.25 on Tuesday. The firm’s 50-day moving average price is $75.61 and its 200-day moving average price is $84.46. The company has a market capitalization of $325.83 billion, a PE ratio of 24.63, a P/E/G ratio of 1.10 and a beta of 1.53. 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 1-year low of $65.08 and a 1-year high of $126.71.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The company had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. During the same period last year, the business earned $0.72 EPS. Netflix’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities analysts predict that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Netflix Company 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.