USA Financial Formulas Increases Share Position in Netflix, Inc. (NASDAQ:NFLX)

VaselineOctober 10, 2024

0 4 minutes read

USA Financial Formulas grew its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 27.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,937 shares of the Internet television network’s stock after acquiring an additional 419 shares during the quarter. USA Financial Formulas’ holdings in Netflix were worth $1,374,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. DigitalBridge Group Inc. grew its position in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares during the period. M&G Plc purchased a new position in Netflix during the first quarter valued at about $9,682,000. BSN CAPITAL PARTNERS Ltd raised its stake in Netflix by 24.4% in the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after buying an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after acquiring an additional 30,511 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in shares of Netflix in the 4th quarter valued at about $9,513,000. Hedge funds and other institutional investors own 80.93% of the company’s shares.

Analysts on Wall Street are forecasting an increase

NFLX has been the subject of a number of analyst research reports. Evercore ISI boosted their price objective on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th. Bank of America upped their target price on Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Sanford C. Bernstein boosted their price objective on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Rosenblatt Securities restated a “neutral” rating and set a $635.00 target price on shares of Netflix in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $750.00 target price on shares of Netflix in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $694.71.

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Insider buying and selling at Netflix

In other news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at $60,023.60. This trade represents a 0.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $60,023.60. This represents a decrease of 0.00 % in the ownership of the shares. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Also, CEO Gregory K. Peters sold 4,392 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. This represents a 0.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 224,784 shares of company stock worth $150,212,870. 1.76% of shares are owned by company insiders.

Netflix trading up 0.8%

NASDAQ NFLX opened at $727.43 on Thursday. Netflix, Inc. it has a 52-week low of $344.73 and a 52-week high of $728.59. The firm has a 50-day moving average price of $682.31 and a 200-day moving average price of $649.96. The stock has a market cap of $313.52 billion, a P/E ratio of 50.48, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95, and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX – Get Your Free Report ) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the previous year, the business posted EPS of $3.29. The company’s revenue for the quarter was up 16.8% year over year. Equities research analysts expect that Netflix, Inc. to record 19.08 EPS for the current year.

Netflix profile

(Free report)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films and games in different genres and languages. The company also offers members the ability to stream content through a range of internet-connected devices, including televisions, digital video players, TV set-top boxes and mobile devices.