OVERSEA CHINESE BANKING Corp Ltd Takes $4.54 Million Position in Netflix, Inc. $NFLX

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 62,933 shares of the Internet television network’s stock, valued at approximately $4,540,000.

A number of other institutional investors have also recently added to or reduced their stakes in NFLX. Pacific Sun Financial Corp raised its holdings in shares of Netflix by 1.6% during the 3rd quarter. Pacific Sun Financial Corp now owns 574 shares of the Internet television network’s stock worth $688,000 after acquiring an additional 9 shares during the period. Beaird Harris Wealth Management LLC grew its holdings in shares of Netflix by 9.6% in the third quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock valued at $137,000 after purchasing an additional 10 shares during the period. Monograph Wealth Advisors LLC grew its holdings in shares of Netflix by 1.8% in the second quarter. Monograph Wealth Advisors LLC now owns 682 shares of the Internet television network’s stock valued at $913,000 after purchasing an additional 12 shares during the period. Resources Management Corp CT ADV increased its position in Netflix by 2.0% during the second quarter. Resources Management Corp CT ADV now owns 829 shares of the Internet television network’s stock worth $1,110,000 after purchasing an additional 16 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. increased its position in Netflix by 1.4% during the second quarter. Sompo Asset Management Co. Ltd. now owns 1,500 shares of the Internet television network’s stock worth $2,009,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. KGI Securities downgraded shares of Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 target price on the stock. in a research note on Friday, July 17th. Oppenheimer set a $85.00 price target on shares of Netflix and gave the stock an “outperform” rating in a report on Friday, July 17th. Guggenheim set a $75.00 price target on shares of Netflix and gave the company a “buy” rating in a research report on Friday, July 17th. CLSA began coverage on Netflix in a report on Monday, July 20th. They issued an “outperform” rating on the stock. Finally, Piper Sandler reissued an “overweight” rating and set a $85.00 target price (down from $115.00) on shares of Netflix in a research note on Friday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $103.48.

Insider Buying and Selling at Netflix

In related news, Director Reed Hastings sold 386,700 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $85.97, for a total value of $33,244,599.00. Following the sale, the director owned 3,940 shares in the company, valued at approximately $338,721.80. The trade was a 98.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory K. Peters sold 27,312 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $73.54, for a total value of $2,008,524.48. Following the transaction, the chief executive officer directly owned 120,931 shares in the company, valued at approximately $8,893,265.74. The trade was a 18.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 600,295 shares of company stock valued at $49,056,671. Corporate insiders own 1.24% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $80.14 on Friday. The company’s 50 day simple moving average is $74.40 and its 200-day simple moving average is $84.37. The company has a market capitalization of $333.70 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 1.01 and a beta of 1.52. Netflix, Inc. has a 1 year low of $65.08 and a 1 year high of $126.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter last year, the company posted $0.72 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current year.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman’s Pershing Square rebuilt a major position. The investment firm’s purchase, despite previously taking a reported $400 million loss on Netflix, signals confidence in the company’s long-term growth, competitive position and leadership. The disclosure helped support a recent increase in NFLX shares. Netflix Moved, What Is Drawing Attention Now?
• Positive Sentiment: Analysts see advertising as a significant growth opportunity. Netflix is expanding its ad-supported business through live programming, new ad technology and additional tools for marketers. The company is targeting substantial future advertising revenue, which could diversify its sales base and support continued revenue expansion. NFLX’s Ad Business Focus
• Positive Sentiment: Valuation has become more attractive after the selloff. Netflix trades at roughly 21 times forward earnings in the cited analysis, a level viewed as more reasonable than during prior periods of comparable declines. A CNBC contributor also recommended Netflix, reinforcing the bullish case among some investors. Netflix Trades at 21 Times Forward Earnings
• Neutral Sentiment: Co-founder Reed Hastings discussed Netflix’s performance-focused culture. Hastings said companies should operate as teams rather than families, making workforce reductions easier when employees do not meet expectations. The comments revisit Netflix’s 2001 layoffs but do not represent a new operating announcement. Reed Hastings Says Companies Aren’t Families
• Negative Sentiment: YouTube is reportedly trying to prevent creators from signing with Netflix. YouTube is offering creators millions of dollars and warning that simultaneous Netflix deals could jeopardize marketing support and brand-campaign revenue. This could raise Netflix’s content-acquisition costs and make it harder to secure popular creator-led programming. YouTube Offers Creators Millions to Avoid Netflix Deals
• Negative Sentiment: Netflix faces a lawsuit from the band Demon Hunter. The group alleges that Netflix’s KPop Demon Hunters infringes its rights. The case creates legal and reputational risk, although the financial impact is currently unclear. Netflix Sued by Band Demon Hunter

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.