River Global Investors Sells Shares of Netflix, Inc.

River Global Investors LLP has recently reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 17.4% during the third quarter of this year. This information was shared in their latest Form 13F filing with the Securities and Exchange Commission (SEC). After selling 1,055 shares, River Global now holds a total of 5,018 shares in the popular streaming service.

Netflix makes up approximately 0.8% of River Global Investors' total investment portfolio, ranking as the 28th largest holding in their portfolio. At the conclusion of the most recent reporting period, River Global's shares in Netflix were valued at around $3,560,000.

Changes in Institutional Holdings

Several other institutional investors have also recently adjusted their positions in Netflix. Vanguard Group Inc. increased its holdings in Netflix by 0.4% in the first quarter, reaching a total of 36,587,911 shares, valued at approximately $22.22 billion after acquiring an additional 149,341 shares. International Assets Investment Management LLC made a significant increase of 116,620% in the third quarter, acquiring 5,748,200 additional shares for a total of 5,753,129 shares, worth around $4.08 billion.

Other firms such as Baillie Gifford & Co. and Legal & General Group Plc raised their holdings by 2.3% and 3.1%, respectively. Bank of New York Mellon Corp. increased its position by 2.6% as well. Collectively, institutional investors and hedge funds now own about 80.93% of Netflix's shares.

Insider Trading Activity

In related news, Netflix's Chief Financial Officer, Spencer Adam Neumann, sold 433 shares on November 6th at an average price of $772.10, totaling approximately $334,319.30. This sale was disclosed in a filing available on the SEC's website.

On a related note, director Jay C. Hoag sold 37,675 shares on August 12th at an average price of $629.73, with a total transaction value of $23,725,077.75. In the past 90 days, company insiders have sold a total of 242,112 shares, valued at around $169.95 million, accounting for about 1.76% of the company's total stock ownership.

Analyst Price Target Updates

Netflix's stock has been the focus of several analyst reviews recently. Guggenheim raised their price target for Netflix from $810 to $825 and maintained a "buy" rating. Wolfe Research reaffirmed an "outperform" rating. Various analysts adjusted their target prices, with Morgan Stanley increasing theirs from $820 to $830. Citigroup raised their target from $660 to $675. Overall, Netflix has received two sell ratings, nine hold ratings, and twenty-five buy ratings from analysts, resulting in a consensus rating of "Moderate Buy" with a target price of $748.15.

Netflix's Recent Stock Performance

On the stock exchange, Netflix shares saw a slight decline of $1.50, trading at $795.04, with a trading volume of 1,910,626 shares compared to an average volume of 3,927,056. The company's stock history shows a year low of $434.35 and a year high of $799.06. With a market capitalization of $339.85 billion, Netflix's price-to-earnings (P/E) ratio stands at 44.99.

The company recently released its earnings results on October 17th, where it reported earnings of $5.40 per share, surpassing the consensus estimate of $5.09. The revenue for the quarter was $9.82 billion, exceeding expectations of $9.77 billion. Netflix maintains a net margin of 20.70% and a return on equity of 35.86%. Current forecasts project Netflix to achieve an earnings per share of 19.78 for the year.

About Netflix

Netflix, Inc. offers a variety of entertainment services, including streaming TV series, documentaries, feature films, and games across numerous genres and languages. The platform allows subscribers to access content on a range of internet-connected devices, such as televisions, digital players, set-top boxes, and mobile devices.

Netflix, Investors, Shares