Allstate Corp Grows Position in Netflix, Inc. $NFLX

Key Points

• Allstate Corp increased its stake in Netflix, Inc. by 16.8% during the first quarter, now holding 14,894 shares valued at approximately $13.89 million.
• Other institutional investors, including Vanguard Group and Price T Rowe Associates, also expanded their positions in Netflix, reflecting strong institutional interest with 80.93% of its stock owned by such investors.
• Netflix reported earnings of $7.19 per share for the last quarter, exceeding the consensus estimate, with revenue rising 15.9% year-over-year.

Allstate Corp grew its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 16.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,894 shares of the Internet television network's stock after buying an additional 2,137 shares during the period. Allstate Corp's holdings in Netflix were worth $13,889,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Netflix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after purchasing an additional 509,255 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Netflix by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock valued at $10,940,505,000 after purchasing an additional 304,399 shares during the last quarter. GAMMA Investing LLC lifted its position in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Invesco Ltd. boosted its stake in Netflix by 8.3% during the first quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock worth $4,350,083,000 after buying an additional 356,617 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after buying an additional 570,674 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Down 0.6%

Shares of NFLX opened at $1,206.21 on Friday. The company's 50-day simple moving average is $1,231.56 and its 200-day simple moving average is $1,108.85. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 1 year low of $660.80 and a 1 year high of $1,341.15. The stock has a market capitalization of $512.55 billion, a PE ratio of 51.39, a P/E/G ratio of 2.04 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of recent research reports. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Phillip Securities cut shares of Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $1,500.00 target price on shares of Netflix in a research note on Friday, July 18th. Citigroup reissued a "neutral" rating and issued a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, Oppenheimer lifted their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Netflix presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Buying and Selling

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the sale, the director owned 63,040 shares of the company's stock, valued at $78,948,144. This trade represents a 33.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Reed Hastings sold 26,933 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the sale, the director owned 394 shares in the company, valued at $477,394.04. The trade was a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,307 shares of company stock valued at $179,443,809. Company insiders own 1.37% of the company's stock.

Netflix Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.

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