Rheos Capital Works Inc. Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Rheos Capital Works Inc. boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 36.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,200 shares of the Internet television network’s stock after buying an additional 12,000 shares during the quarter. Netflix accounts for approximately 1.7% of Rheos Capital Works Inc.’s holdings, making the stock its 16th biggest position. Rheos Capital Works Inc.’s holdings in Netflix were worth $32,059,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. GQG Partners LLC purchased a new stake in Netflix in the first quarter worth about $1,450,476,000. Jennison Associates LLC lifted its holdings in Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Netflix in the first quarter worth approximately $436,514,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Netflix in the first quarter worth $372,293,000. Finally, Swedbank AB purchased a new position in shares of Netflix during the 1st quarter valued at $216,538,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now directly owns 57 shares in the company, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of analyst reports. Piper Sandler upgraded Netflix from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $650.00 to $800.00 in a research note on Monday, October 7th. Bank of America lifted their target price on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of Netflix in a research note on Friday, July 19th. UBS Group lifted their price objective on shares of Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Argus upped their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $704.26.

Netflix Stock Down 0.6 %

NASDAQ:NFLX opened at $702.00 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $302.56 billion, a PE ratio of 48.72, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company has a 50-day moving average of $692.63 and a 200 day moving average of $653.38. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $736.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the firm earned $3.29 earnings per share. As a group, research analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.