41,472 Netflix, Inc. $NFLX Shares Purchased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 594,153 shares of the Internet television network’s stock after purchasing an additional 41,472 shares during the period. TD Waterhouse Canada Inc.’s holdings in Netflix were worth $40,336,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Merkkuri Wealth Advisors LLC acquired a new stake in shares of Netflix in the 1st quarter worth approximately $31,000. Bayban raised its holdings in shares of Netflix by 400.0% during the first quarter. Bayban now owns 350 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 280 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Netflix in the 2nd quarter valued at approximately $26,000. Bank of New Hampshire lifted its stake in Netflix by 900.0% in the fourth quarter. Bank of New Hampshire now owns 380 shares of the Internet television network’s stock valued at $36,000 after acquiring an additional 342 shares during the last quarter. Finally, Compound Global Advisors LLC acquired a new stake in shares of Netflix in the second quarter worth about $29,000. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on NFLX shares. BMO Capital Markets reiterated an “outperform” rating and set a $125.00 price target (down from $135.00) on shares of Netflix in a report on Friday. Sanford C. Bernstein started coverage on shares of Netflix in a research note on Monday, September 28th. They issued a “buy” rating for the company. Oppenheimer set a $85.00 price objective on shares of Netflix and gave the stock an “outperform” rating in a report on Friday, July 17th. Robert W. Baird set a $90.00 price objective on shares of Netflix and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. Finally, Rothschild & Co Redburn lowered their target price on shares of Netflix from $120.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $93.82.

Netflix Stock Down 2.9%

Shares of NFLX opened at $70.53 on Friday. The company has a 50-day simple moving average of $75.17 and a 200-day simple moving average of $80.66. The firm has a market capitalization of $293.68 billion, a P/E ratio of 22.20, a P/E/G ratio of 1.00 and a beta of 1.62. 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, Inc. has a 52 week low of $65.08 and a 52 week high of $124.86.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share 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 business had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter last year, the company earned $0.72 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. On average, equities research analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current year.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Jefferies upgraded Netflix (NFLX) to “strong buy,” citing potential support from pricing increases and advertising growth. Wedbush also maintained an “outperform” rating, although it lowered its price target to $90 from $105. Netflix stock gets bullish analyst call
• Positive Sentiment: Options activity is signaling expectations for a substantial post-earnings move, while sentiment remains bullish in some derivatives markets. Technical analysts also see a possible double-bottom pattern, with a break above $83.60 potentially opening a path toward $102.12. Barchart Netflix earnings outlook
• Neutral Sentiment: Netflix is replacing Chief Content Officer Bela Bajaria with former Disney and Fox executive Peter Rice. His experience across scripted programming, live sports, unscripted content and theatrical distribution could help Netflix develop new hits, but the abrupt change before earnings highlights pressure to improve engagement. Netflix appoints Peter Rice
• Negative Sentiment: Netflix announced plans to eliminate about 1,000 jobs, or 6% of its workforce, one day before the content-chief transition. Although the cuts may improve efficiency, investors viewed them as evidence of a sharper growth reset and concerns about the company’s content strategy. Netflix shares under pressure after content chief departure
• Negative Sentiment: Pre-earnings concerns include slowing viewership, rising churn, declining engagement and intensifying competition. Analysts also warn that Netflix’s premium valuation leaves little room for disappointing guidance, while options traders anticipate a move that could take the stock toward a two-year low. Netflix Q3 earnings outlook

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 5,723 shares of Netflix stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total transaction of $416,920.55. Following the sale, the insider owned 316,100 shares of the company’s stock, valued at approximately $23,027,885. This trade represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard N. Barton sold 720 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $75.27, for a total value of $54,194.40. Following the sale, the director owned 2,460 shares in the company, valued at approximately $185,164.20. This represents a 22.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 179,045 shares of company stock valued at $13,132,194 over the last quarter. Company insiders own 1.24% of the company’s stock.

Netflix Company Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming services. Its platform offers a broad selection of television series, films, documentaries, stand-up specials and other programming, including content produced by Netflix and licensed from third-party studios and creators.

The company also develops and distributes original productions under the Netflix brand and has expanded into additional entertainment offerings, including mobile and cloud-based games in select markets and live programming.