1,575,944 Netflix, Inc. $NFLX Shares Sold by Sustainable Growth Advisers LP

Sustainable Growth Advisers LP reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 38.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,486,816 shares of the Internet television network’s stock after selling 1,575,944 shares during the period. Netflix makes up about 1.9% of Sustainable Growth Advisers LP’s investment portfolio, making the stock its 18th biggest position. Sustainable Growth Advisers LP’s holdings in Netflix were worth $173,033,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NFLX. BlackRock Inc. bought a new stake in shares of Netflix during the 2nd quarter valued at $24,902,221,000. State Street Corp lifted its stake in shares of Netflix by 4.9% in the 2nd quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock valued at $12,861,252,000 after purchasing an additional 8,474,820 shares during the period. Bank of America Corp DE lifted its stake in shares of Netflix by 4.3% in the 1st quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network’s stock valued at $5,571,201,000 after purchasing an additional 2,376,349 shares during the period. Invesco Ltd. lifted its stake in shares of Netflix by 835.9% in the 4th quarter. Invesco Ltd. now owns 43,462,696 shares of the Internet television network’s stock valued at $4,075,062,000 after purchasing an additional 38,818,947 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Netflix in the 2nd quarter worth $1,906,482,000. 80.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 27,312 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $73.54, for a total transaction of $2,008,524.48. Following the sale, the chief executive officer directly owned 120,931 shares in the company, valued at approximately $8,893,265.74. This trade represents a 18.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 720 shares of Netflix stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $75.27, for a total transaction of $54,194.40. Following the completion of the transaction, the director directly owned 2,460 shares in the company, valued at approximately $185,164.20. The trade was a 22.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 179,045 shares of company stock valued at $13,132,194. 1.24% of the stock is owned by company insiders.

Netflix Trading Up 2.9%

NFLX opened at $72.61 on Friday. The firm’s fifty day moving average is $75.25 and its two-hundred day moving average is $80.73. The firm has a market cap of $302.34 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.00 and a beta of 1.62. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $124.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The company had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The firm’s revenue was up 13.4% on a year-over-year basis. Equities research analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current year.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Jefferies initiated coverage with a Buy rating and an $85 price target, citing potential revenue support from subscription-price increases and advertising. Netflix stock gets bullish analyst call ahead of next week’s earnings
• Positive Sentiment: Netflix named former Disney and Fox executive Peter Rice as chief content officer, replacing Bela Bajaria. Rice’s experience could help Netflix improve its content strategy and viewer engagement as competition intensifies. Netflix names former Disney executive Rice as new content chief
• Neutral Sentiment: Netflix will release third-quarter results on October 20. Wall Street estimates for revenue, earnings and operating metrics may drive volatility as investors look for evidence that pricing, advertising and content investments are offsetting weaker engagement. Ahead of Netflix Q3 earnings
• Negative Sentiment: Netflix is eliminating roughly 1,000 positions, or 6% of its workforce, its largest reduction since 2022. Management described the move as a resource-allocation and efficiency effort, but investors may view it as evidence of slowing growth and pressure to control costs. Netflix is laying off roughly 6% of its workforce
• Negative Sentiment: Reports citing app data indicate U.S. churn has risen and viewing engagement has weakened. Those trends raise questions about Netflix’s ability to retain subscribers amid competition from other streaming services, YouTube and creator-led video. Netflix warning signs ahead of Q3 earnings

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Bank of America decreased their price objective on Netflix from $125.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Citigroup reiterated a “market perform” rating on shares of Netflix in a report on Thursday. JPMorgan Chase & Co. reissued a “buy” rating on shares of Netflix in a research note on Thursday, August 20th. Pivotal Research reduced their target price on Netflix from $96.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, July 17th. Finally, Weiss Ratings upgraded Netflix from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.41.

Netflix Company Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that operates a subscription-based streaming service. It offers a broad range of television series, films, documentaries, and other programming, including original productions developed under the Netflix brand and licensed content from third-party studios.

The company also provides advertising-supported viewing options in some markets and has expanded into related entertainment categories, including mobile and cloud-based games, live programming, and consumer products associated with selected titles.