Stocks

West Wealth Group LLC Acquires Stake in Netflix, Inc.

Published January 27, 2025

West Wealth Group LLC has recently made headlines by acquiring a new stake in Netflix, Inc. (NASDAQ:NFLX). According to the fund's latest 13F filing with the Securities and Exchange Commission, West Wealth Group LLC purchased 300 shares of the popular Internet television network. The value of this investment is approximately $267,000, indicating a significant entry into the thriving streaming industry.

Recent Institutional Activity

In addition to West Wealth Group LLC, several institutional investors and hedge funds have taken an active interest in Netflix's stock. For instance, State Street Corp increased its holdings in Netflix shares by 2.6% in the third quarter. They now own a total of 16,951,347 shares, valued at around $12 billion, after purchasing an additional 426,740 shares during this timeframe. Similarly, Geode Capital Management LLC raised its stake by 1.4%, now holding 9,148,356 shares valued at approximately $6.46 billion following a purchase of 123,029 shares.

Jennison Associates LLC also lifted its position by 4.7%, now owning about 6,990,874 shares worth $4.96 billion after buying 316,594 extra shares. In a remarkable move, International Assets Investment Management LLC expanded its stake in Netflix by an astonishing 116,620.0%. As a result, they now hold 5,753,129 shares valued at around $4.08 billion, having acquired an additional 5,748,200 shares recent months. Wellington Management Group LLP increased its position slightly by 0.5%, now owning 4,897,389 shares worth roughly $3.47 billion.

Collectively, institutional investors and hedge funds own approximately 80.93% of Netflix's stock, showcasing the significant interest from larger investment entities.

Insider Trading Trends

In other news regarding Netflix, insider David A. Hyman sold 267 shares of the company's stock on November 5th at an average price of $765.67, totaling about $204,433.89. After this sale, Hyman retains ownership of 31,610 shares in Netflix, worth around $24.2 million. This sale represents a minor decrease of 0.84% in their overall ownership.

On January 23rd, Director Jay C. Hoag sold 617 shares at an average price of $979.71, with total proceeds estimated at around $604,481.07. Over the previous ninety days, insiders collectively sold 147,117 shares of Netflix, translating to a total value of approximately $123.9 million. Currently, insiders hold 1.76% of Netflix's stock.

Analyst Insights

Market analysts have been actively assessing Netflix shares. On October 18th, Wells Fargo & Company raised their price target for Netflix shares from $758.00 to $797.00, giving them an "overweight" rating. Conversely, StockNews.com changed their rating for Netflix from "buy" to "hold" on December 5th. Citigroup also adjusted their price target upwards from $725.00 to $920.00, maintaining a "neutral" rating.

Jefferies Financial Group increased their price objective for Netflix from $780.00 to $800.00, labeling the stock with a "buy" rating. Additionally, Wedbush reissued their "outperform" rating, setting a new target price of $1,150.00, up from the previous estimate of $950.00. The stock has garnered a mix of ratings from analysts, with nine holding a "hold" rating, twenty-five rating it as a "buy," and one with a "strong buy" designation. Reports indicate that the overall consensus reflects a "Moderate Buy" along with a consensus price target of $1,021.70.

Current Stock Performance

As of the last trading day, Netflix shares opened at $977.59. The stock has experienced fluctuations, with a fifty-two week low of $542.01 and a high of $999.00. With a market capitalization of $417.88 billion, Netflix has a PE ratio of 49.30 and a price-to-earnings-growth ratio of 1.53. The stock's movement averages reveal a 50-day simple moving average of $895.13 and a 200-day simple moving average of $768.18.

In its most recent earnings report released on January 21st, Netflix reported earnings per share (EPS) of $4.27 for the quarter, slightly beating estimates of $4.20 by $0.07. The company generated revenue of $10.25 billion, exceeding analysts' expectations of around $10.14 billion. Notably, this revenue figure marks an impressive 16.0% increase year-over-year. Analysts predict that Netflix, Inc. will achieve an EPS of 23.72 for the current fiscal year.

About Netflix, Inc.

Netflix, Inc., headquartered in the United States, is a leading provider of entertainment services, offering a diverse range of TV series, documentaries, feature films, and games across various genres and languages. Subscribers can access streaming content through multiple internet-connected devices, including TVs, digital video players, mobile devices, and set-top boxes. The popularity of Netflix continues to grow globally, reaching millions of satisfied customers.

Netflix, Investment, Shares