Netflix, Inc. $NFLX Shares Purchased by Westpac Banking Corp

Key Points

• Westpac Banking Corp sharply increased its Netflix stake by 726.7% in the fourth quarter, ending with 85,818 shares valued at about $8.0 million.
• Institutional ownership remains high, with 80.93% of Netflix shares held by institutions, and several other hedge funds also reported buying more shares recently.
• Despite some positive analyst coverage and stronger-than-expected earnings, Netflix stock has been under pressure, trading near its 52-week low while insiders, including Reed Hastings, have sold shares.

Westpac Banking Corp boosted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 726.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,818 shares of the Internet television network's stock after purchasing an additional 75,437 shares during the quarter. Westpac Banking Corp's holdings in Netflix were worth $8,046,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NFLX. Brighton Jones LLC lifted its stake in Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after buying an additional 257 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Netflix by 21.2% in the second quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network's stock valued at $1,883,000 after buying an additional 246 shares during the last quarter. Strategic Investment Advisors MI lifted its stake in Netflix by 18.9% in the second quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network's stock valued at $1,036,000 after buying an additional 123 shares during the last quarter. Finally, Schnieders Capital Management LLC. lifted its stake in Netflix by 12.1% in the second quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network's stock valued at $2,832,000 after buying an additional 228 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix is expanding beyond core streaming with new live-content initiatives and franchise-based consumer product deals, which could open additional revenue streams over time. A Look At Netflix (NFLX) Valuation As Live Content And Franchise Deals Broaden Its Business Model
• Positive Sentiment: Some analysts see Netflix as more attractively priced after the pullback, pointing to its proximity to the 52-week low, improved free cash flow guidance, and continued ad business growth. Netflix Nearing 52-Week Low: Buy, Sell or Hold?
• Neutral Sentiment: Several recent articles debate whether Netflix is becoming more of a value stock than a growth stock, highlighting a shift in how investors may judge the company going forward. Has Netflix Become More of a Value Stock Than a Growth Stock?
• Neutral Sentiment: Coverage about June streaming lineups may help keep Netflix’s content slate in focus, but it does not appear to be a major near-term stock catalyst. Here’s what’s worth streaming in June on Netflix, Hulu, HBO Max and more
• Negative Sentiment: Netflix stock has been falling even as the broader market rises, suggesting weak momentum and continued investor concern about the shares’ recent performance. Netflix (NFLX) Stock Falls Amid Market Uptick: What Investors Need to Know
• Negative Sentiment: Director Reed Hastings sold 386,700 shares in a pre-arranged 10b5-1 plan, a move that can weigh on sentiment even though the sale was scheduled in advance. Insider Selling: Netflix NASDAQ: NFLX Director Sells 386,700 Shares of Stock

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group upgraded Netflix from a "neutral" rating to a "buy" rating in a research note on Monday, April 13th. Guggenheim restated a "buy" rating and set a $120.00 price objective on shares of Netflix in a research note on Friday, May 15th. Daiwa Securities Group lifted their price objective on shares of Netflix from $97.00 to $102.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Wells Fargo & Company assumed coverage on shares of Netflix in a research note on Monday, March 9th. They set an "equal weight" rating and a $105.00 price objective on the stock. Finally, Huber Research upgraded shares of Netflix from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and sixteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of "Moderate Buy" and an average target price of $114.82.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 5,722 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $88.08, for a total value of $503,993.76. Following the sale, the insider directly owned 316,100 shares in the company, valued at approximately $27,842,088. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Adam Neumann sold 9,253 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $88.95, for a total transaction of $823,054.35. Following the completion of the sale, the chief financial officer owned 73,787 shares in the company, valued at approximately $6,563,353.65. This trade represents a 11.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,313,029 shares of company stock valued at $120,315,776 in the last quarter. 1.24% of the stock is owned by company insiders.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $83.33 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.43. The firm's 50-day simple moving average is $93.00 and its 200 day simple moving average is $93.09. Netflix, Inc. has a fifty-two week low of $75.01 and a fifty-two week high of $134.12. The stock has a market cap of $350.89 billion, a P/E ratio of 26.92, a P/E/G ratio of 1.09 and a beta of 1.50.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The Internet television network reported $1.23 EPS for the quarter, topping the consensus estimate of $0.76 by $0.47. Netflix had a net margin of 28.52% and a return on equity of 40.92%. The firm had revenue of $12.25 billion for the quarter, compared to analysts' expectations of $12.17 billion. During the same period in the previous year, the business earned $6.61 earnings per share. Netflix'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. Equities analysts expect that Netflix, Inc. will post 3.6 EPS for the current 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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