67,965 Netflix, Inc. $NFLX Shares Bought by Loftus Peak Pty Ltd

Key Points

• Loftus Peak Pty Ltd increased its Netflix position by 19.1% in the third quarter, purchasing 67,965 shares and bringing its total holdings to 424,168 shares valued at approximately $29.5 million.
• Institutional investors and hedge funds own 80.93% of Netflix, while insiders have sold 179,045 shares worth $13.1 million over the past three months.
• Netflix beat quarterly EPS estimates by $0.01 and delivered 13.4% year-over-year revenue growth. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $94.41, despite several recent target reductions.

Loftus Peak Pty Ltd increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 19.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 424,168 shares of the Internet television network's stock after acquiring an additional 67,965 shares during the period. Netflix comprises 3.4% of Loftus Peak Pty Ltd's holdings, making the stock its 12th largest holding. Loftus Peak Pty Ltd's holdings in Netflix were worth $29,514,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Netflix during the second quarter valued at approximately $24,902,221,000. Invesco Ltd. lifted its stake in Netflix by 835.9% during the fourth quarter. Invesco Ltd. now owns 43,462,696 shares of the Internet television network's stock worth $4,075,062,000 after purchasing an additional 38,818,947 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Netflix during the second quarter worth $1,906,482,000. Legal & General Group Plc acquired a new stake in shares of Netflix in the 2nd quarter valued at $1,886,526,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Netflix in the 2nd quarter valued at $1,481,303,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity

In other news, CFO Spencer Neumann sold 9,248 shares of Netflix stock in a transaction on Monday, August 10th. The shares were sold at an average price of $75.79, for a total transaction of $700,905.92. Following the transaction, the chief financial officer owned 73,787 shares in the company, valued at approximately $5,592,316.73. The trade was a 11.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Hyman sold 5,723 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total transaction of $416,920.55. Following the completion of the sale, the insider directly owned 316,100 shares in the company, valued at approximately $23,027,885. This represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 179,045 shares of company stock valued at $13,132,194. 1.24% of the stock is currently owned by company insiders.

Netflix Trading Up 0.2%

NFLX opened at $70.57 on Thursday. Netflix, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $124.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $293.85 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 0.99 and a beta of 1.62. The company's 50 day moving average price is $75.27 and its two-hundred day moving average price is $80.87.

Netflix (NASDAQ:NFLX - Get Free Report) last announced 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 analysts' expectations of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The company's revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS. As a group, research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NFLX. The Goldman Sachs Group reiterated a "buy" rating and issued a $90.00 price target on shares of Netflix in a research note on Tuesday, October 6th. CICC Research lowered their price target on Netflix from $110.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, July 21st. KeyCorp dropped their price objective on Netflix from $92.00 to $85.00 and set an "overweight" rating for the company in a research report on Tuesday. Pivotal Research dropped their price objective on Netflix from $96.00 to $70.00 and set a "hold" rating for the company in a research report on Friday, July 17th. Finally, Stephens initiated coverage on Netflix in a research note on Friday, July 17th. They issued an "overweight" rating on the stock. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.41.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix plans to eliminate approximately 6% of its global workforce, primarily across product, technology, legal and human-resources functions. Management says the restructuring will improve discipline and redirect resources toward future investments, potentially supporting margins and efficiency. Netflix is laying off roughly 6% of its workforce
• Positive Sentiment: Some analysts and investors remain constructive, arguing that Netflix’s profitable operating model, international growth and ability to reinvent its business could make the recent selloff a buying opportunity. The shares trade at roughly 22 times trailing earnings. Forget Selling Netflix: NFLX Is the Streaming Stock I'm Buying More Of
• Positive Sentiment: Netflix secured exclusive rights to the 2030 FIFA World Cup in Spain and Andorra, offering a potential engagement and subscriber-acquisition catalyst. Netflix Stock Scores as It Lands 2030 World Cup Rights
• Neutral Sentiment: Investors will look to the October 20 earnings report for evidence that revenue growth, free cash flow and viewing trends are stabilizing. Analysts expect earnings growth, but recent estimates have been trimmed modestly. Netflix Is Set to Release Earnings on Oct. 20
• Negative Sentiment: The layoffs are also being interpreted as evidence that growth and user engagement have cooled. Reports cite stronger competition from YouTube and other streaming services, while Netflix seeks to keep audiences watching. Netflix to cut 1,000 jobs as growth concerns mount
• Negative Sentiment: App-tracking data reportedly showed a 16.6% increase in U.S. churn, adding to concerns about weaker domestic demand ahead of earnings. Netflix Has New Warning Signs Ahead of Q3 Earnings
• Negative Sentiment: Analyst downgrades and lower price targets reflect concerns about rising content costs, slowing viewership and whether cost-cutting alone can solve Netflix’s engagement problem. Netflix Stock Is Double Downgraded by Huber Research

Netflix Company Profile

Netflix, Inc NASDAQ: NFLX is a global entertainment company that operates a subscription-based streaming service. It offers a broad range of television series, films, documentaries, and other programming, including original productions developed under the Netflix brand and licensed content from third-party studios.

The company also provides advertising-supported viewing options in some markets and has expanded into related entertainment categories, including mobile and cloud-based games, live programming, and consumer products associated with selected titles.

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