14,458 Netflix, Inc. $NFLX Shares Bought by Ethic Inc.

Ethic Inc. boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 546,393 shares of the Internet television network’s stock after buying an additional 14,458 shares during the period. Ethic Inc.’s holdings in Netflix were worth $38,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. 180 Wealth Advisors LLC grew its holdings in Netflix by 2.9% during the 3rd quarter. 180 Wealth Advisors LLC now owns 23,779 shares of the Internet television network’s stock valued at $1,655,000 after buying an additional 674 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of Netflix by 8.6% during the third quarter. Kornitzer Capital Management Inc. KS now owns 72,000 shares of the Internet television network’s stock valued at $5,010,000 after buying an additional 5,720 shares during the last quarter. Axiom Investment Management LLC purchased a new position in shares of Netflix in the third quarter worth $62,000. Pictet Asset Management Holding SA lifted its holdings in shares of Netflix by 10.4% in the third quarter. Pictet Asset Management Holding SA now owns 4,453,680 shares of the Internet television network’s stock worth $309,892,000 after buying an additional 418,810 shares in the last quarter. Finally, Allen Investment Management LLC lifted its holdings in shares of Netflix by 13.3% in the third quarter. Allen Investment Management LLC now owns 5,682 shares of the Internet television network’s stock worth $395,000 after buying an additional 669 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Stock Down 3.3%

Shares of NFLX opened at $63.41 on Friday. The stock has a market capitalization of $260.38 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 0.93 and a beta of 1.62. Netflix, Inc. has a 1 year low of $61.39 and a 1 year high of $116.73. The business’s 50 day simple moving average is $71.03 and its 200-day simple moving average is $80.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.07 and a quick ratio of 1.07.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. Netflix had a return on equity of 42.69% and a net margin of 29.69%. The firm had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.87 billion. During the same period in the prior year, the company earned $0.59 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 27,312 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $66.20, for a total transaction of $1,808,054.40. Following the completion of the transaction, the chief executive officer owned 178,954 shares in the company, valued at $11,846,754.80. This trade represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Hyman sold 5,727 shares of Netflix stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $64.55, for a total transaction of $369,677.85. Following the completion of the transaction, the insider directly owned 166,100 shares of the company’s stock, valued at $10,721,755. The trade was a 3.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 70,960 shares of company stock valued at $4,752,050 over the last quarter. 1.24% of the stock is currently owned by insiders.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix ordered Other Worlds: A Stranger Things Adventure, a live-action prequel series. Extending a popular franchise could support viewer engagement, though the financial impact and timing are not yet clear. Article: Stranger Things prequel series
• Positive Sentiment: A valuation analysis argues NFLX could be undervalued, estimating about 23% upside to fair value. This offers a counterpoint to recent weakness, but is an analyst view rather than a company announcement. Article: Netflix stock fair-value analysis
• Neutral Sentiment: CEO Ted Sarandos and CFO Spencer Neumann disclosed share sales, but the transactions were made to cover tax withholding on vested equity awards. That stated purpose makes them a less clear signal about management’s view of the stock. Article: Netflix insider share sales
• Negative Sentiment: Coverage noted NFLX slipping even with the new Stranger Things plans, suggesting the content announcement has not eased near-term selling pressure. The shares are also near their 52-week low and far below their 52-week high, reflecting a weak recent trend. Article: Netflix stock slips despite new Stranger Things plans

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research reports. Moffett Nathanson restated a “buy” rating and set a $90.00 target price on shares of Netflix in a research report on Wednesday, October 21st. KeyCorp reduced their price target on shares of Netflix from $92.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. Rosenblatt Securities set a $71.00 price target on shares of Netflix and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. Daiwa Securities Group dropped their price objective on shares of Netflix from $102.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Netflix from $85.00 to $81.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.14.

About Netflix

Netflix, Inc is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand.

Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.