Phoenix Financial Ltd. Has $20.82 Million Position in Netflix, Inc. $NFLX

Key Points

• Phoenix Financial Ltd. increased its position in Netflix, Inc. by 12.7% during Q2, adding 1,761 shares for a total value of approximately $20.82 million.
• Netflix's stock has a market cap of $526.30 billion and has seen significant insider activity, including a sale of 42,176 shares by Director Reed Hastings, reducing his ownership by over 99%.
• Analyst ratings for Netflix indicate a consensus of "Moderate Buy", with an average target price of around $1,339.81, following positive assessments from multiple firms.

Phoenix Financial Ltd. grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 12.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,626 shares of the Internet television network's stock after acquiring an additional 1,761 shares during the period. Phoenix Financial Ltd.'s holdings in Netflix were worth $20,823,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NFLX. Vanguard Group Inc. grew its stake in shares of Netflix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after buying an additional 509,255 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Netflix by 2.7% in the 1st 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 buying an additional 304,399 shares during the period. Alliancebernstein L.P. grew its stake in shares of Netflix by 1.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network's stock valued at $4,844,436,000 after buying an additional 53,611 shares during the period. Invesco Ltd. grew its stake in shares of Netflix by 8.3% in the 1st quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock valued at $4,350,083,000 after buying an additional 356,617 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Netflix by 3.5% in the 1st quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network's stock valued at $4,089,765,000 after buying an additional 148,675 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

Netflix stock opened at $1,238.56 on Tuesday. Netflix, Inc. has a 52 week low of $744.26 and a 52 week high of $1,341.15. The company's 50 day moving average price is $1,213.87 and its two-hundred day moving average price is $1,182.08. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market cap of $526.30 billion, a P/E ratio of 52.77, a P/E/G ratio of 2.02 and a beta of 1.59.

Analyst Ratings Changes

Several analysts have recently commented on the company. Itau BBA Securities assumed coverage on Netflix in a research note on Tuesday, October 7th. They issued an "outperform" rating and a $1,514.00 target price for the company. Wedbush restated an "outperform" rating on shares of Netflix in a research note on Wednesday, October 15th. Morgan Stanley set a $1,500.00 target price on Netflix in a research note on Monday, October 13th. Wells Fargo & Company lifted their price target on Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, Piper Sandler lifted their price target on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,339.81.

Insider Activity

In other Netflix news, Director Reed Hastings sold 42,176 shares of Netflix stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the transaction, the director owned 394 shares of the company's stock, valued at $461,736.48. This trade represents a 99.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 424 shares of Netflix stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the transaction, the insider directly owned 31,610 shares in the company, valued at approximately $36,625,558.70. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,100 shares of company stock worth $122,710,980. Corporate insiders own 1.37% of the company's stock.

Netflix Company 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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