Rep. James Comer Buys Netflix, Inc. (NASDAQ:NFLX) Stock

Representative James Comer (R-Kentucky) recently bought shares of Netflix, Inc. (NASDAQ:NFLX). In a filing disclosed on January 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in Netflix stock on January 2nd.

Representative James Comer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Dover (NYSE:DOV) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of PayPal (NASDAQ:PYPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Uber Technologies (NYSE:UBER) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amphenol (NYSE:APH) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Apple (NASDAQ:AAPL) on 1/2/2025.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 1/2/2025.

Netflix Trading Down 1.4 %

Shares of NASDAQ:NFLX opened at $828.40 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a 1 year low of $475.26 and a 1 year high of $941.75. The company has a market cap of $354.11 billion, a P/E ratio of 46.88, a PEG ratio of 1.77 and a beta of 1.27. The stock’s fifty day moving average price is $881.04 and its 200-day moving average price is $755.96.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Sell-side analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Activity

In other Netflix news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Leslie J. Kilgore sold 358 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the sale, the director now owns 35,262 shares in the company, valued at approximately $26,975,430. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,742 shares of company stock valued at $131,030,268. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Netflix

Large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the period. Geode Capital Management LLC raised its holdings in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after buying an additional 123,029 shares during the period. Jennison Associates LLC lifted its position in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP increased its position in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after acquiring an additional 23,702 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NFLX. Macquarie boosted their target price on shares of Netflix from $795.00 to $965.00 and gave the company an “outperform” rating in a research note on Monday. Benchmark lifted their price objective on Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a report on Friday, January 3rd. Bank of America raised their target price on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Saturday, December 21st. Finally, Sanford C. Bernstein increased their price objective on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $845.82.

About Representative Comer

James Comer Jr. (Republican Party) is a member of the U.S. House, representing Kentucky’s 1st Congressional District. He assumed office on November 14, 2016. His current term ends on January 3, 2025. Comer (Republican Party) ran for re-election to the U.S. House to represent Kentucky’s 1st Congressional District. He won in the general election on November 8, 2022. Prior to serving in Congress, Comer was the Kentucky Commissioner of Agriculture from 2012 to 2016, and the Kentucky House of Representatives from 2001 to 2012. He also unsuccessfully ran for Governor of Kentucky in 2015. A writer for the Louisville Courier-Journal called Comer “instrumental in the final passage of a five-year farm bill,” noting that he served on the conference committee that produced the final version of the bill. Comer is from Tompkinsville, Ky. He acted as the director of South Central Bank for 12 years and has been the co-owner of the Comer Land and Cattle Company. He previously served as president of CFB Foods Incorporated from 2001 to 2003 and president of Comer and Polston Insurance Incorporated from 1993 to 1995.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.