Cary Street Partners Financial LLC Has $2.75 Million Stock Position in Netflix, Inc. $NFLX

Key Points

• Cary Street Partners Financial LLC boosted its Netflix stake by 1,111.5% in the fourth quarter, ending with 29,318 shares valued at about $2.75 million.
• Several large institutional investors also increased their Netflix holdings, and hedge funds and institutions now own 80.93% of the company’s stock.
• Netflix reported better-than-expected quarterly results, with EPS of $1.23 versus $0.76 expected and revenue of $12.25 billion; analysts currently rate the stock Moderate Buy with a consensus price target of $114.82.

Cary Street Partners Financial LLC raised its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1,111.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,318 shares of the Internet television network's stock after buying an additional 26,898 shares during the quarter. Cary Street Partners Financial LLC's holdings in Netflix were worth $2,749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. Vanguard Group Inc. lifted its position in shares of Netflix by 912.5% in the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network's stock worth $36,567,805,000 after acquiring an additional 351,493,659 shares during the period. Baillie Gifford & Co. lifted its position in shares of Netflix by 912.3% in the 4th quarter. Baillie Gifford & Co. now owns 36,940,035 shares of the Internet television network's stock worth $3,463,498,000 after acquiring an additional 33,290,988 shares during the period. Jennison Associates LLC lifted its position in shares of Netflix by 639.9% in the 4th quarter. Jennison Associates LLC now owns 34,871,951 shares of the Internet television network's stock worth $3,269,594,000 after acquiring an additional 30,158,900 shares during the period. Legal & General Group Plc lifted its position in shares of Netflix by 916.1% in the 4th quarter. Legal & General Group Plc now owns 26,522,252 shares of the Internet television network's stock worth $2,486,726,000 after acquiring an additional 23,912,151 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Netflix by 907.5% in the 4th quarter. Fisher Asset Management LLC now owns 20,490,399 shares of the Internet television network's stock worth $1,921,180,000 after acquiring an additional 18,456,524 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings upgraded Netflix from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. reiterated a "buy" rating on shares of Netflix in a research report on Wednesday, April 22nd. Wells Fargo & Company assumed coverage on Netflix in a research report on Monday, March 9th. They issued an "equal weight" rating and a $105.00 price objective for the company. Morgan Stanley reiterated an "overweight" rating on shares of Netflix in a research report on Friday, April 17th. Finally, Barclays set a $110.00 price objective on Netflix and gave the stock an "equal weight" rating in a research report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and sixteen have issued a Hold rating to the company's stock. According to data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and a consensus price target of $114.82.

Insiders Place Their Bets

In other news, CEO Theodore A. Sarandos sold 27,312 shares of Netflix stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total value of $2,402,636.64. Following the completion of the sale, the chief executive officer directly owned 284,804 shares of the company's stock, valued at approximately $25,054,207.88. This trade represents a 8.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Hyman sold 5,722 shares of Netflix stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $88.08, for a total value of $503,993.76. Following the completion of the sale, the insider directly owned 316,100 shares of the company's stock, valued at $27,842,088. This trade represents a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,422,769 shares of company stock valued at $135,144,073 over the last three months. Company insiders own 1.24% of the company's stock.

Netflix Stock Performance

Netflix stock opened at $87.35 on Thursday. The stock has a 50-day simple moving average of $93.45 and a 200 day simple moving average of $93.59. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.43. Netflix, Inc. has a 12-month low of $75.01 and a 12-month high of $134.12. The stock has a market capitalization of $367.81 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 1.11 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The Internet television network reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.47. Netflix had a return on equity of 40.92% and a net margin of 28.52%.The business had revenue of $12.25 billion during the quarter, compared to analysts' expectations of $12.17 billion. During the same period in the previous year, the business posted $6.61 earnings per share. The firm's revenue for the quarter was up 16.2% compared to the same quarter last year. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. On average, research analysts anticipate that Netflix, Inc. will post 3.6 earnings per share for the current fiscal year.

Netflix 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.

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