The Vanguard Group, Inc. recently announced the acquisition of new stake in Netflix Inc. (NASDAQ:NFLX). The institutional investor has increased its shareholding in the Communication Services company by 1.62% to 33.32 million shares with purchase of 0.53 million shares. This fresh investment now brings its stake to 7.49% valued currently at $9.72 billion. In addition, Fidelity Management & Research Co raised its holdings by 2.86 million to 18.09 million shares. And Capital Research & Management Co has lifted its position by 3.14% or 0.47 million shares – to 15.34 million shares.
With over 5.63 million Netflix Inc. (NFLX) shares trading Tuesday and a closing price of $280.96 on the day, the dollar volume was approximately $1.58 billion. The shares have shown a positive half year performance of 42.30% and its price on 11/29/22 lost nearly -0.07%. Currently, there are 444.88M common shares owned by the public and among those 438.60M shares have been available to trade.
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Insiders at the company have transacted a total of 29 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 1,246,388 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 804,008 shares.
The top 3 mutual fund holders in Netflix Inc. are Vanguard Total Stock Market Index, American Funds Growth Fund of Ame, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 13.35 million shares of the company’s stock, all valued at over $3.9 billion. The company bought an additional 68548.0 shares recently to bring their total holdings to about 3.00% of the shares outstanding. American Funds Growth Fund of Ame bought 1.15 million shares to see its total holdings expand to 12.08 million shares valued at over $3.53 billion and representing 2.72% of the shares outstanding. Vanguard 500 Index Fund bought 98782.0 shares to bring its total holdings to over 10.08 million shares at a value of $2.94 billion. Vanguard 500 Index Fund now owns shares totaling to 2.26% of the shares outstanding.
Shares of Netflix Inc. (NASDAQ: NFLX) opened at $282.50, up $1.33 from a prior closing price of $281.17. However, the script later moved the day high at 282.88, down -0.07%. The company’s stock has a 5-day price change of -1.43% and 27.33% over the past three months. NFLX shares are trading -53.36% year to date (YTD), with the 12-month market performance down to -57.68% lower. It has a 12-month low price of $162.71 and touched a high of $675.38 over the same period. NFLX has an average intraday trading volume of 11.79 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.58%, 7.26%, and 9.26% respectively.
Institutional ownership of Netflix Inc. (NASDAQ: NFLX) shares accounts for 80.40% of the company’s 444.88M shares outstanding. Mutual fund holders own 4.07%, while other institutional holders and individual stakeholders account for 46.20% and 33.76% respectively.
It has a market capitalization of $122.97B and a beta (3y monthly) value of 1.28. The stock’s trailing 12-month PE ratio is 26.49, while the earnings-per-share (ttm) stands at $10.61. The company has a PEG of 4.55 and a Quick Ratio of 1.10 with the debt-to-equity ratio at 0.68. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.82% over the week and 3.98% over the month.
Analysts forecast that Netflix Inc. (NFLX) will achieve an EPS of $0.44 for the current quarter, $2.96 for the next quarter and $10.51 for 2023. The lowest estimate earnings-per-share for the quarter is $0.3 while analysts give the company a high EPS estimate of $1.02. Comparatively, EPS for the current quarter was $1.33 a year ago. Earnings per share for the fiscal year are expected to increase by 81.30%, and 1.70% over the next financial year. EPS should shrink at an annualized rate of 5.82% over the next five years, compared to 90.50% over the past 5-year period.
Looking at the support for the NFLX, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on November 15, 2022, with the firm’s price target at $370. Pivotal Research Group coverage for the Netflix Inc. (NFLX) stock in a research note released on October 26, 2022 offered a Buy rating with a price target of $375. Daiwa Securities was of a view on October 25, 2022 that the stock is Outperform, while JP Morgan gave the stock Overweight rating on October 19, 2022, issuing a price target of $240- $330. Deutsche Bank on their part issued Buy rating on October 19, 2022.
