River Global Investors LLP Reduces Its Stake in Netflix, Inc.

During the third quarter, River Global Investors LLP reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 17.4%, as indicated in their latest Form 13F filing with the SEC. Following the sale of 1,055 shares, the firm now owns 5,018 shares of the well-known Internet television service. Netflix now represents approximately 0.8% of River Global Investors LLP's total investment portfolio, making it their 28th largest investment. At the close of the recent reporting period, the value of River's Netflix shares stood at $3,560,000.

Other Institutional Activity

Additionally, several hedge funds and institutional investors have recently adjusted their positions in Netflix. Vanguard Group Inc. boosted its stake in Netflix by 0.4% during the first quarter, bringing its total to 36,587,911 shares, valued at $22,220,936,000 after acquiring 149,341 more shares. International Assets Investment Management LLC significantly increased its Netflix holdings by 116,620.0% in the third quarter, now owning 5,753,129 shares valued at $4,080,522,000 after purchasing an extra 5,748,200 shares.

Baillie Gifford & Co. enhanced its holdings by 2.3% during the second quarter, totaling 4,762,069 shares valued at $3,213,825,000 after an additional 106,756 shares were added. Similarly, Legal & General Group Plc raised its stake by 3.1%, owning 3,449,114 shares worth $2,327,738,000, having acquired an additional 104,332 shares. Bank of New York Mellon Corp also increased their ownership by 2.6%, amassing 3,281,306 shares worth $2,214,488,000 after adding 83,762 shares. Institutional investors and hedge funds collectively own about 80.93% of Netflix's shares.

Insider Transactions

In insider news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock on November 6th for an average price of $772.10, resulting in a total transaction worth $334,319.30. This information was disclosed in a filing with the SEC. Earlier, Director Jay C. Hoag sold 37,675 shares at an average price of $629.73 on August 12th, for a total of $23,725,077.75. Over the past 90 days, insiders have sold 242,112 shares totaling $169,954,456, with company insiders holding 1.76% of the total stock.

Analysts' Ratings and Price Predictions

Netflix has recently been the focus of multiple analyst reports. Guggenheim raised its price target on Netflix from $810.00 to $825.00, maintaining a "buy" rating on October 29th. Wolfe Research reaffirmed an "outperform" rating on October 18th. Other analysts, like Redburn Atlantic and Morgan Stanley, also increased their price targets on Netflix recently. Currently, two analysts have rated the stock as a sell, nine gave it a hold rating, and twenty-five rated it a buy, leading to a consensus rating of "Moderate Buy" with an average target price of $748.15.

Stock Performance Overview

As of Friday, Netflix's stock experienced a decline of $1.50, landing at $795.04. The trading volume stood at 1,910,626 shares, surpassing its average volume of 3,927,056. Over the past year, Netflix’s stock has ranged from a low of $434.35 to a high of $799.06. With a market capitalization of $339.85 billion, the company's price-to-earnings ratio is 44.99, along with a price-to-earnings-growth ratio of 1.50 and a beta of 1.25. Netflix has a current ratio of 1.13, and its debt-to-equity ratio is 0.62. The company's fifty-day moving average is $721.55, while the 200-day moving average sits at $670.54.

Netflix last reported its earnings on October 17th, revealing $5.40 earnings per share for the quarter, exceeding analysts' expectations of $5.09. The company reported revenues of $9.82 billion, which was above the projected $9.77 billion. Netflix continues to show strong financial performance, with a net margin of 20.70% and a return on equity of 35.86%. Market analysts speculate that Netflix will achieve 19.78 earnings per share for the ongoing year.

Company Overview

Netflix, Inc. provides a variety of entertainment services, including TV series, documentaries, feature films, and games across diverse genres and languages. Subscribers can stream this content through various internet-connected devices, such as televisions, digital video players, and mobile devices.

Netflix, Investors, Stocks