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Commerce Bank Buys 27,164 Shares of Netflix, Inc. (NASDAQ:NFLX)

Netflix logo with Consumer Discretionary background

Key Points

  • Commerce Bank significantly increased its holdings in Netflix, acquiring an additional 27,164 shares, bringing its total to 49,325 shares valued at approximately $46 million.
  • Netflix's shares opened at $1,159.40, reflecting a 2.1% decline, with a market capitalization of $492.66 billion and a price-to-earnings ratio of 49.40.
  • Recent quarterly earnings showed Netflix reporting $7.19 EPS, exceeding estimates, with revenue of $11.08 billion for the quarter, marking a 15.9% increase year-over-year.
  • MarketBeat previews the top five stocks to own by September 1st.

Commerce Bank boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 122.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,325 shares of the Internet television network's stock after acquiring an additional 27,164 shares during the quarter. Commerce Bank's holdings in Netflix were worth $45,997,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NFLX. Resurgent Financial Advisors LLC lifted its stake in Netflix by 234.4% in the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock valued at $942,000 after buying an additional 708 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Netflix by 8.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after buying an additional 110,432 shares in the last quarter. PharVision Advisers LLC bought a new position in Netflix in the fourth quarter valued at approximately $873,000. New England Research & Management Inc. lifted its stake in Netflix by 148.5% in the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after buying an additional 1,268 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Netflix by 6.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after buying an additional 3,137 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

Shares of Netflix stock traded down $0.80 during trading on Friday, hitting $1,158.60. 3,886,745 shares of the company's stock traded hands, compared to its average volume of 3,831,108. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The stock has a market capitalization of $492.32 billion, a P/E ratio of 49.37, a PEG ratio of 1.95 and a beta of 1.59. The business has a 50-day simple moving average of $1,234.32 and a 200-day simple moving average of $1,082.35.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the company earned $4.88 earnings per share. Netflix's revenue was up 15.9% on a year-over-year basis. As a group, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total value of $3,151,553.67. Following the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,472,273.97. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the firm's 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 completion of the transaction, the director directly owned 63,040 shares in the company, valued at $78,948,144. This trade represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 123,830 shares of company stock valued at $153,102,930 in the last 90 days. Insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NFLX shares. Wells Fargo & Company lifted their price target on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Morgan Stanley reiterated an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Wall Street Zen upgraded shares of Netflix from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

View Our Latest Stock Report on NFLX

Netflix Profile

(Free Report)

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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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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