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 0.19% to 34.4 million shares with purchase of 65721.0 shares. This fresh investment now brings its stake to 7.86% valued currently at $16.3 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.13 million to 19.61 million shares. And Capital Research & Management Co has lifted its position by 2.06% or 0.24 million shares – to 11.67 million shares.
Currently, there are 445.35M common shares owned by the public and among those 431.54M shares have been available to trade.
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Insiders at the company have transacted a total of 195 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 94 of these insider trades were purchases, accounting for 322,630 shares. Insider sales of the common stock occurred on 101 occasions, with total insider shares sold totaling 506,825 shares.
The top 3 mutual fund holders in Netflix Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and American Funds Growth Fund of Ame. Vanguard Total Stock Market ETF owns 13.87 million shares of the company’s stock, all valued at over $6.57 billion. The company bought an additional 67503.0 shares recently to bring their total holdings to about 3.17% of the shares outstanding. Vanguard 500 Index Fund bought 51792.0 shares to see its total holdings expand to 10.6 million shares valued at over $5.02 billion and representing 2.42% of the shares outstanding. American Funds Growth Fund of Ame sold -2.27 million shares to bring its total holdings to over 9.37 million shares at a value of $4.44 billion. American Funds Growth Fund of Ame now owns shares totaling to 2.14% of the shares outstanding.
The company’s stock has a 5-day price change of 5.70% and 22.70% over the past three months. NFLX shares are trading 64.85% year to date (YTD), with the 12-month market performance up to 67.39% higher. It has a 12-month low price of $273.41 and touched a high of $485.00 over the same period. NFLX has an average intraday trading volume of 5.14 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 3.94%, 12.60%, and 22.76% respectively.
Institutional ownership of Netflix Inc. (NASDAQ: NFLX) shares accounts for 81.26% of the company’s 445.35M shares outstanding. Mutual fund holders own 33.25%, while other institutional holders and individual stakeholders account for 48.55% and 3.99% respectively.
It has a market capitalization of $212.76B and a beta (3y monthly) value of 1.28. The stock’s trailing 12-month PE ratio is 48.47, while the earnings-per-share (ttm) stands at $10.03. The company has a PEG of 1.99 and a Quick Ratio of 1.29 with the debt-to-equity ratio at 0.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.76% over the week and 1.94% over the month.
Analysts forecast that Netflix Inc. (NFLX) will achieve an EPS of $2.02 for the current quarter, $3.78 for the next quarter and $14.54 for 2024. The lowest estimate earnings-per-share for the quarter is $1.8 while analysts give the company a high EPS estimate of $2.59. Comparatively, EPS for the current quarter was $0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 22.11%, and 30.79% over the next financial year. EPS should shrink at an annualized rate of 24.35% over the next five years, compared to 51.43% over the past 5-year period.
Looking at the support for the NFLX, a number of firms have released research notes about the stock. Morgan Stanley stated their Overweight rating for the stock in a research note on Dec-19-23, with the firm’s price target at $475-$550.
