418,810 Netflix, Inc. $NFLX Shares Bought by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Netflix stake by 10.4%, buying 418,810 shares to reach 4.45 million shares valued at about $309.9 million. Institutional investors collectively owned 80.93% of the stock.
• Netflix reported quarterly earnings of $0.87 per share, topping the $0.82 consensus estimate; revenue of $12.87 billion matched forecasts and rose 11.9% year over year.
• Despite the earnings beat, shares were reported down 3.3% and near their 52-week low. Analysts’ average rating was Moderate Buy, with an average price target of $89.14.

Pictet Asset Management Holding SA raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 10.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,453,680 shares of the Internet television network's stock after purchasing an additional 418,810 shares during the period. Pictet Asset Management Holding SA owned 0.11% of Netflix worth $309,892,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nykredit A S purchased a new position in shares of Netflix in the 2nd quarter valued at $105,697,000. Rockland Trust Co. boosted its position in Netflix by 27.5% in the 3rd quarter. Rockland Trust Co. now owns 219,221 shares of the Internet television network's stock valued at $15,253,000 after buying an additional 47,339 shares during the last quarter. Boomfish Wealth Group LLC boosted its position in Netflix by 91.5% in the 3rd quarter. Boomfish Wealth Group LLC now owns 34,547 shares of the Internet television network's stock valued at $2,404,000 after buying an additional 16,510 shares during the last quarter. Welch & Forbes LLC grew its stake in shares of Netflix by 3,464.5% during the first quarter. Welch & Forbes LLC now owns 118,448 shares of the Internet television network's stock valued at $11,389,000 after acquiring an additional 115,125 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Netflix during the second quarter valued at about $37,743,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Down 3.3%

Shares of NASDAQ:NFLX opened at $63.41 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $260.38 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 0.93 and a beta of 1.62. Netflix, Inc. has a 52 week low of $61.39 and a 52 week high of $116.73. The firm has a 50 day simple moving average of $71.03 and a 200 day simple moving average of $80.97.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.05. The firm had revenue of $12.87 billion during the quarter, compared to analyst estimates of $12.87 billion. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The company's revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. As a group, research analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NFLX. Oppenheimer reaffirmed an "outperform" rating and set a $80.00 target price (down from $85.00) on shares of Netflix in a research report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft set a $93.00 price target on Netflix in a report on Wednesday, October 21st. William Blair reiterated an "outperform" rating on shares of Netflix in a research note on Wednesday, October 21st. Seaport Research Partners set a $85.00 target price on Netflix in a research report on Wednesday, October 21st. Finally, UBS Group set a $90.00 target price on Netflix in a research note on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $89.14.

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix ordered Other Worlds: A Stranger Things Adventure, a live-action prequel series. Extending a popular franchise could support viewer engagement, though the financial impact and timing are not yet clear. Article: Stranger Things prequel series
• Positive Sentiment: A valuation analysis argues NFLX could be undervalued, estimating about 23% upside to fair value. This offers a counterpoint to recent weakness, but is an analyst view rather than a company announcement. Article: Netflix stock fair-value analysis
• Neutral Sentiment: CEO Ted Sarandos and CFO Spencer Neumann disclosed share sales, but the transactions were made to cover tax withholding on vested equity awards. That stated purpose makes them a less clear signal about management’s view of the stock. Article: Netflix insider share sales
• Negative Sentiment: Coverage noted NFLX slipping even with the new Stranger Things plans, suggesting the content announcement has not eased near-term selling pressure. The shares are also near their 52-week low and far below their 52-week high, reflecting a weak recent trend. Article: Netflix stock slips despite new Stranger Things plans

Insider Buying and Selling at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 27,312 shares of the business's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $66.20, for a total value of $1,808,054.40. Following the transaction, the chief executive officer owned 178,954 shares in the company, valued at $11,846,754.80. The trade was a 13.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Bradford L. Smith sold 17,980 shares of the business's stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $64.03, for a total value of $1,151,259.40. Following the completion of the sale, the director directly owned 79,690 shares of the company's stock, valued at approximately $5,102,550.70. The trade was a 18.41% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 70,960 shares of company stock valued at $4,752,050 in the last 90 days. Corporate insiders own 1.24% of the company's stock.

About Netflix

Netflix, Inc is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand.

Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.

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