Sumitomo Mitsui Trust Group Inc. Purchases 15,132 Shares of Netflix, Inc. $NFLX

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in Netflix by 1.3% during the second quarter, now holding approximately 1,217,360 shares worth around $1.63 billion.
• In recent insider trading activities, both CEO Theodore A. Sarandos and CFO Spencer Adam Neumann sold shares, reducing their positions by 11.78% and 41.34%, respectively.
• Netflix's stock has a 52-week range of $747.77 to $1,341.15, and it missed analysts' earnings expectations, reporting $5.87 EPS compared to the consensus estimate of $6.88.

Sumitomo Mitsui Trust Group Inc. grew its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,217,360 shares of the Internet television network's stock after buying an additional 15,132 shares during the period. Netflix accounts for about 1.0% of Sumitomo Mitsui Trust Group Inc.'s portfolio, making the stock its 12th largest position. Sumitomo Mitsui Trust Group Inc. owned approximately 0.29% of Netflix worth $1,630,203,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Optima Capital LLC boosted its holdings in shares of Netflix by 3.5% in the 2nd quarter. Optima Capital LLC now owns 239 shares of the Internet television network's stock valued at $320,000 after buying an additional 8 shares in the last quarter. Unified Investment Management boosted its stake in Netflix by 1.7% in the 2nd quarter. Unified Investment Management now owns 474 shares of the Internet television network's stock worth $635,000 after purchasing an additional 8 shares in the last quarter. Plancorp LLC boosted its stake in Netflix by 0.6% in the 2nd quarter. Plancorp LLC now owns 1,278 shares of the Internet television network's stock worth $1,711,000 after purchasing an additional 8 shares in the last quarter. Five Oceans Advisors boosted its stake in Netflix by 1.1% in the 2nd quarter. Five Oceans Advisors now owns 751 shares of the Internet television network's stock worth $1,006,000 after purchasing an additional 8 shares in the last quarter. Finally, Old Port Advisors boosted its stake in Netflix by 1.3% in the 2nd quarter. Old Port Advisors now owns 624 shares of the Internet television network's stock worth $836,000 after purchasing an additional 8 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Theodore A. Sarandos sold 2,026 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the transaction, the chief executive officer owned 15,168 shares of the company's stock, valued at approximately $17,604,284.16. The trade was a 11.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,290,418.40. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,100 shares of company stock worth $122,710,980. Insiders own 1.37% of the company's stock.

Netflix Price Performance

Netflix stock opened at $1,109.21 on Friday. Netflix, Inc. has a 52-week low of $747.77 and a 52-week high of $1,341.15. The firm has a market capitalization of $471.33 billion, a price-to-earnings ratio of 46.33, a PEG ratio of 1.89 and a beta of 1.59. The company has a fifty day simple moving average of $1,210.10 and a 200-day simple moving average of $1,183.73. The company has a quick ratio of 1.34, a current ratio of 1.33 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.88 by ($1.01). Netflix had a return on equity of 41.86% and a net margin of 24.05%.The business had revenue of $11.51 billion for the quarter, compared to analysts' expectations of $11.52 billion. During the same period in the previous year, the company earned $5.40 EPS. Netflix's quarterly revenue was up 17.2% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. On average, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on NFLX shares. Robert W. Baird lifted their target price on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Zacks Research cut shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. BMO Capital Markets reiterated an "outperform" rating and issued a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Wells Fargo & Company decreased their target price on shares of Netflix from $1,560.00 to $1,510.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Cowen reiterated a "buy" rating on shares of Netflix in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Netflix has a consensus rating of "Moderate Buy" and an average price target of $1,352.78.

About Netflix

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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