Penserra Capital Management LLC Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Penserra Capital Management LLC has significantly decreased its stake in Netflix, Inc. (NASDAQ:NFLX) by 80.3% during the third quarter of the year. According to reports from Holdings Channel, the firm now owns just 944 shares after selling off 3,851 shares during this period. As of the close of the most recent quarter, Penserra's holdings in Netflix were valued at approximately $669,000.

In addition to Penserra's adjustments, several other hedge funds have also made notable changes to their positions in Netflix. For instance, Denver PWM LLC initiated a new investment in Netflix worth $25,000 during the second quarter. Proffitt & Goodson Inc. increased its Netflix holdings by 380% also in the second quarter, now owning 48 shares valued at $32,000 after buying an additional 38 shares. Furthermore, E Fund Management Hong Kong Co. Ltd. boosted its stake by 700% in the third quarter, acquiring 48 shares worth $34,000 after purchasing 42 new shares. AlphaMark Advisors LLC raised its position in Netflix by 642.9% in the second quarter, taking its ownership to 52 shares with a value of $35,000. Additionally, MidAtlantic Capital Management Inc. acquired a new stake in Netflix worth about $37,000 in the third quarter. Overall, hedge funds and institutional investors hold around 80.93% of Netflix's stock.

Insider Transactions at Netflix

Recent insider transactions also reflect movements within the company. CEO Gregory K. Peters sold 4,392 shares of Netflix on September 25th, fetching an average price of $725.00, which totaled approximately $3.18 million. After this sale, Peters's remaining shares are valued at around $9.49 million, indicating a 25.12% reduction in his ownership. This sale has been documented in a filing with the Securities & Exchange Commission. Additionally, insider David A. Hyman sold 267 shares on November 5th at an average price of $765.67, amounting to around $204,433.89. Hyman now holds 31,610 shares worth about $24.20 million, marking a decrease of 0.84% in his position. In total, insiders sold over 185,000 shares of Netflix stock valued at around $133.39 million during the last quarter. Company insiders possess about 1.76% of Netflix's stock as of now.

Netflix Trading Up 0.5 %

On the trading front, Netflix shares showed a slight increase of 0.5%, opening at $877.34. The company's current market capitalization stands at approximately $375.03 billion, with a price-to-earnings ratio of 49.65. Netflix boasts a price-to-earnings growth ratio of 1.67 and a beta of 1.25. Its current ratio and quick ratio both sit at 1.13, while the debt-to-equity ratio is at 0.62. Notably, the company's 50-day and 200-day simple moving averages are at $765.83 and $696.40, respectively. The stock has experienced a 12-month low of $445.73 and a high of $908.00.

Netflix recently released its quarterly earnings data, reporting an earnings-per-share (EPS) of $5.40 for the quarter ended October 17th. This figure surpassed analysts' expectations, which pegged the estimate at $5.09. The company also recorded a return on equity of 35.86% and a net profit margin of 20.70%, with revenues hitting $9.82 billion compared to the analyst forecast of $9.77 billion. Looking ahead, researchers predict that Netflix will achieve earnings of $19.78 per share for the current year.

Wall Street Analysts Forecast Growth

Wall Street analysts have been optimistic about Netflix's outlook. Recently, JPMorgan Chase & Co. raised its target price for Netflix from $750.00 to $850.00 while maintaining an “overweight” rating. Similarly, Morgan Stanley increased its target price from $820.00 to $830.00, also assigning an “overweight” rating to the stock. KeyCorp raised its price target from $760.00 to $785.00, while StockNews.com upgraded Netflix from a “hold” to a “buy” recommendation. Canaccord Genuity moved their target price from $750.00 to $760.00, continuing a “hold” stance. Presently, there are two analysts who have rated Netflix as a sell, nine have a hold rating, and 25 recommend buying the stock. According to MarketBeat.com, Netflix has an overall rating of “Moderate Buy” and an average target price of $764.82.

Netflix Company Profile

Netflix, Inc. is a renowned company that provides a wide range of entertainment services. This includes offering TV series, documentaries, feature films, and games across various genres and languages. Netflix also allows its members to stream content on a variety of internet-connected devices like TVs, digital video players, and mobile devices.

Penserra, Netflix, Investment