Zacks Investment Management Increases Its Stake in Netflix, Inc.

Zacks Investment Management has increased its position in Netflix, Inc. (NASDAQ:NFLX) by 8.4% during the third quarter, as per the company's recent filing with the SEC. Following this adjustment, Zacks owns 113,323 shares of the popular streaming service, having acquired an extra 8,795 shares during the same period. The value of Zacks' investment in Netflix is estimated at $80.38 million based on the latest SEC documentation.

Investment Activity by Other Firms

Other institutional investors and hedge funds have made changes to their holdings in NFLX as well. For instance, International Assets Investment Management LLC significantly increased its stake by 116,620.0% during the third quarter, bringing its total to 5,753,129 shares, valued at over $4 billion. Similarly, Assenagon Asset Management S.A. raised its position by 154.7%, now holding 1,058,431 shares worth approximately $750.71 million. State Street Corp and Jennison Associates LLC also increased their investments in Netflix, reflecting growing interest among major institutional players.

Netflix Stock Overview

As of the last trading session, Netflix shares opened at $934.74. The company's stock has a 50-day moving average of $788.37 and a 200-day moving average of $707.66. Netflix boasts a market capitalization of $399.56 billion, with a price-to-earnings (P/E) ratio of 52.90. Although the stock's one-year low stands at $448.32, it has reached a one-year high of $935.27.

Earnings Report

Netflix recently reported its quarterly earnings on October 17th, showcasing a strong performance with earnings per share (EPS) of $5.40. This surpassed analysts' predictions of $5.09. The company also achieved a net margin of 20.70% and a return on equity of 35.86%, generating $9.82 billion in revenue, slightly exceeding market expectations. Analysts anticipate that Netflix will report an EPS of 19.78 for the ongoing fiscal year.

Analyst Recommendations

Multiple research firms have provided updates regarding Netflix’s stock. Evercore ISI raised their price target from $775.00 to $950.00, rating Netflix as “outperform.” KeyCorp and Morgan Stanley have also adjusted their price targets upwards, reflecting increased confidence in Netflix's growth. The stock currently holds a consensus rating of "Moderate Buy" among analysts, with an average price target set at $783.00.

Insider Transactions

In a related development, Netflix's Chairman, Reed Hastings, sold 48,363 shares of the company on December 2nd at an average price of $896.60, amounting to over $43 million. This transaction has reduced his ownership significantly, keeping only 114 shares. Another insider, Anne M. Sweeney, also sold shares worth approximately $518,320. Over the past three months, insiders have sold a total of 209,155 shares valued at around $159.68 million, while insiders currently own 1.76% of Netflix's total stock.

About Netflix

Netflix, Inc. is a leading entertainment service provider that delivers a wide range of TV shows, movies, documentaries, and games across various genres and languages. Subscribers can access content using internet-connected devices like TVs and mobile devices.

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