Peapack Gladstone Financial Corp Grows Position in Netflix, Inc. $NFLX

Key Points

• Peapack Gladstone Financial Corp dramatically increased its Netflix stake by 2,334.2% in the fourth quarter, ending with 95,809 shares valued at about $8.98 million.
• Other institutional investors also boosted holdings, and hedge funds and other institutions now own 80.93% of Netflix’s shares, signaling continued strong institutional interest.
• Netflix shares were trading around $85.85 after the company reported better-than-expected quarterly results, with $1.23 EPS versus estimates of $0.76 and revenue up 16.2% year over year; analysts currently rate the stock a Moderate Buy.

Peapack Gladstone Financial Corp lifted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2,334.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,809 shares of the Internet television network's stock after buying an additional 91,873 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Netflix were worth $8,983,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Florida Financial Advisors LLC lifted its holdings in shares of Netflix by 1,065.2% in the fourth quarter. Florida Financial Advisors LLC now owns 36,750 shares of the Internet television network's stock worth $3,438,000 after buying an additional 33,596 shares in the last quarter. Frederick Financial Consultants LLC raised its stake in Netflix by 1,056.8% during the fourth quarter. Frederick Financial Consultants LLC now owns 2,140 shares of the Internet television network's stock valued at $201,000 after purchasing an additional 1,955 shares in the last quarter. Redwood Financial Network Corp raised its stake in Netflix by 988.8% during the fourth quarter. Redwood Financial Network Corp now owns 9,277 shares of the Internet television network's stock valued at $870,000 after purchasing an additional 8,425 shares in the last quarter. Rothschild Wealth LLC raised its stake in Netflix by 872.1% during the fourth quarter. Rothschild Wealth LLC now owns 4,005 shares of the Internet television network's stock valued at $376,000 after purchasing an additional 3,593 shares in the last quarter. Finally, Clear Point Advisors Inc. raised its stake in Netflix by 891.2% during the fourth quarter. Clear Point Advisors Inc. now owns 4,381 shares of the Internet television network's stock valued at $411,000 after purchasing an additional 3,939 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 28,630 shares of the company's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $98.00, for a total value of $2,805,740.00. Following the transaction, the chief financial officer directly owned 73,787 shares in the company, valued at approximately $7,231,126. This represents a 27.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Theodore A. Sarandos sold 27,312 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total transaction of $2,402,636.64. Following the completion of the transaction, the chief executive officer owned 284,804 shares in the company, valued at approximately $25,054,207.88. The trade was a 8.75% 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. In the last quarter, insiders sold 926,329 shares of company stock valued at $87,071,177. Company insiders own 1.24% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NFLX. Rosenblatt Securities decreased their price target on shares of Netflix from $96.00 to $95.00 and set a "neutral" rating on the stock in a research note on Friday, April 17th. HSBC upped their price target on shares of Netflix from $106.00 to $114.00 and gave the company a "buy" rating in a research note on Friday, April 10th. China Renaissance upped their price target on shares of Netflix from $90.00 to $100.00 and gave the company a "hold" rating in a research note on Friday, April 17th. Pivotal Research set a $96.00 price target on shares of Netflix and gave the company a "hold" rating in a research note on Friday, April 17th. Finally, The Goldman Sachs Group raised shares of Netflix from a "neutral" rating to a "buy" rating in a research note on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $114.82.

Netflix Trading Down 0.2%

NFLX stock opened at $85.85 on Tuesday. 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 twelve month low of $75.01 and a twelve month high of $134.12. The stock has a market capitalization of $361.50 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 1.09 and a beta of 1.50. The firm's fifty day simple moving average is $93.00 and its two-hundred day simple moving average is $93.09.

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

About Netflix

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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