River Global Investors LLP Reduces Stake in Netflix, Inc.

River Global Investors LLP has reduced its investment in Netflix, Inc. (NASDAQ:NFLX) by 17.4% during the third quarter. According to their latest Form 13F filing with the SEC, the firm now holds 5,018 shares of the popular streaming service after selling 1,055 shares during the quarter. This reduction means that Netflix now represents approximately 0.8% of River Global Investors'D investment portfolio, making it their 28th largest holding. As of the end of the most recent reporting period, these holdings in Netflix were valued at about $3,560,000.

Changes in Institutional Holdings

In addition to River Global Investors LLP, several other institutional investors have adjusted their positions in Netflix. Vanguard Group Inc. increased its stake by 0.4% in the first quarter, now owning 36,587,911 shares valued at around $22.22 billion following the purchase of an additional 149,341 shares. International Assets Investment Management LLC raised its holdings dramatically by 116,620.0% during the third quarter, acquiring 5,748,200 shares, bringing their total to 5,753,129 shares valued at approximately $4.08 billion. Moreover, Baillie Gifford & Co. and Legal & General Group Plc also increased their stakes during the second quarter, owning 4,762,069 shares and 3,449,114 shares, respectively. Meanwhile, Bank of New York Mellon Corp. raised its position by 2.6%, adding to its holdings. Overall, institutional investors and hedge funds own about 80.93% of Netflix's outstanding shares.

Insider Transactions

In related news, Netflix's CFO, Spencer Adam Neumann, recently sold 433 shares of company stock on November 6th, at an average price of $772.10, totaling approximately $334,319.30. This transaction was filed and can be viewed on the SEC's website. Previously, on August 12th, Director Jay C. Hoag sold 37,675 shares amounting to about $23.73 million at an average price of $629.73. In the last three months alone, insiders sold 242,112 shares of Netflix stock worth a total of $169.95 million, with insiders now holding 1.76% of the company’s stock.

Analyst Ratings and Price Targets

Recent analyst reports have highlighted Netflix's performance and potential. Guggenheim raised its target price from $810.00 to $825.00, rating the stock as a "buy". Similarly, Wolfe Research also maintained an "outperform" rating. Other firms, including Redburn Atlantic and Morgan Stanley, have raised their respective target prices, indicating a favorable sentiment towards Netflix. Currently, two analysts rate it as a sell, nine give it a hold, while 25 recommend a buy. This results in a consensus rating of "Moderate Buy" with an average target price of $748.15.

Netflix Stock Performance Overview

As of last Friday, Netflix’s stock decreased by $1.50 to reach $795.04, with a trading volume of 1,910,626 shares, which is lower than its average volume of 3,927,056 shares. The company's stock has fluctuated significantly over the past year, showing a low of $434.35 and a high of $799.06. With a current market capitalization of about $339.85 billion, Netflix boasts a P/E ratio of 44.99 and a price-to-earnings growth ratio of 1.50, alongside a beta of 1.25. The firm continues to show strong financials, recently reporting $5.40 earnings per share for the quarter, surpassing analysts' expectations of $5.09. Netflix's revenue for that quarter was $9.82 billion, exceeding forecasts of $9.77 billion.

About Netflix, Inc.

Netflix, Inc. is a leading provider of entertainment services globally. The company offers a vast array of TV series, documentaries, feature films, and games across various genres and languages. Subscribers can access streaming content on a multitude of internet-connected devices.

Netflix, Investors, Stock