Vanguard Group Increases Netflix Stake by 0.4%, Boosting Holdings

TLDR

• Vanguard Group increased its stake in Netflix by 0.4% in the third quarter, acquiring an additional 142,238 shares.
• The firm now owns 38,521,322 shares of Netflix, valued at $46.18 billion, representing 9.09% of the company.
• Several institutional investors, including Retirement Wealth Solutions LLC and Steph & Co., also made moves in Netflix stock.
• Analysts have adjusted their price targets for Netflix, with some lowering their projections for the stock.
• Insiders, including Cletus R. Willems and David A. Hyman, recently sold shares of Netflix, totaling over $700,000 in sales.

Vanguard Group Inc. has increased its stake in Netflix, Inc. ($NFLX) by 0.4% in the third quarter, as per the latest 13F filing with the Securities & Exchange Commission (SEC). The firm now holds 38,521,322 shares of Netflix, reflecting an additional 142,238 shares acquired during the quarter. This move positions Netflix as the 16th largest holding in Vanguard’s portfolio, making up 0.7% of the total value.

Netflix, Inc., NFLX

Vanguard’s Stake in Netflix Grows

In the third quarter, Vanguard’s increase in Netflix shares signals confidence in the company’s performance. As of the most recent SEC filing, Vanguard’s stake in Netflix is valued at $46.18 billion. The firm now owns 9.09% of Netflix, a sign of its growing importance in Vanguard’s portfolio.

Other institutional investors also made moves during this period. Retirement Wealth Solutions LLC purchased a new stake in Netflix worth $28,000, while Steph & Co. increased its position by 188.9%. The combined actions of these firms suggest that many see potential in Netflix’s stock despite market fluctuations.

NFLX Stock: Analysts’ Take

Several analysts have updated their price targets and ratings for Netflix’s stock. Robert W. Baird reduced their target price from $150 to $120, while Wells Fargo & Company lowered its from $156 to $151. These adjustments reflect mixed sentiments about Netflix’s near-term outlook, but the stock continues to receive “buy” ratings from many experts.

Despite some analysts lowering their price targets, NFLX stock maintains a consensus “Moderate Buy” rating. With a 50-day moving average of $88.67 and a 200-day moving average of $106.99, the stock has experienced significant volatility in the past year. Investors remain divided on the stock’s potential, as reflected in its price swings between a 1-year low of $75.23 and a high of $134.12.

Insider Activity in Netflix

In addition to institutional movements, insiders at Netflix have also been active. On February 10th, Cletus R. Willems, a company insider, sold 3,136 shares at an average price of $82.67. Similarly, David A. Hyman sold 5,727 shares on February 9th at $81.06 each, totaling over $464,000.

These insider sales are part of regular transactions within the company, but do raise questions about internal confidence. The continued insider activity might suggest a desire to capitalize on the current market conditions. However, insiders still hold a combined 1.37% of the company’s stock.

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