138,373 Shares in Netflix, Inc. $NFLX Acquired by Sycale Advisors NY LLC

Sycale Advisors NY LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the first quarter, Holdings Channel reports. The fund acquired 138,373 shares of the Internet television network’s stock, valued at approximately $13,305,000. Netflix accounts for approximately 6.6% of Sycale Advisors NY LLC’s investment portfolio, making the stock its 8th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacific Sun Financial Corp grew its stake in Netflix by 1.6% during the 3rd quarter. Pacific Sun Financial Corp now owns 574 shares of the Internet television network’s stock valued at $688,000 after acquiring an additional 9 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in Netflix by 9.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock valued at $137,000 after buying an additional 10 shares in the last quarter. Monograph Wealth Advisors LLC increased its position in Netflix by 1.8% during the second quarter. Monograph Wealth Advisors LLC now owns 682 shares of the Internet television network’s stock worth $913,000 after purchasing an additional 12 shares during the last quarter. Resources Management Corp CT ADV raised its stake in Netflix by 2.0% during the second quarter. Resources Management Corp CT ADV now owns 829 shares of the Internet television network’s stock worth $1,110,000 after purchasing an additional 16 shares during the period. Finally, Sompo Asset Management Co. Ltd. boosted its holdings in Netflix by 1.4% in the 2nd quarter. Sompo Asset Management Co. Ltd. now owns 1,500 shares of the Internet television network’s stock valued at $2,009,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of several recent analyst reports. Weiss Ratings cut Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 26th. KeyCorp reissued an “overweight” rating and issued a $92.00 target price (down from $115.00) on shares of Netflix in a research report on Monday, July 13th. Erste Group Bank cut Netflix from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Wells Fargo & Company set a $80.00 price target on shares of Netflix and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Finally, Phillip Securities upgraded Netflix from a “moderate buy” rating to a “strong-buy” rating in a report on Sunday. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $103.48.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 5,722 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $88.08, for a total transaction of $503,993.76. Following the completion of the sale, the insider owned 316,100 shares in the company, valued at $27,842,088. This represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory K. Peters sold 27,312 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $88.69, for a total transaction of $2,422,301.28. Following the transaction, the chief executive officer directly owned 120,931 shares in the company, valued at $10,725,370.39. The trade was a 18.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 899,839 shares of company stock valued at $80,141,661. 1.24% of the stock is owned by insiders.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Negative Sentiment: Netflix’s Q2 results beat EPS expectations, but revenue came in slightly below consensus and management signaled growth could slow to around 12% in Q3, raising concerns about momentum. Netflix Has Plummeted Over the Past Year and Just Dropped Again on Earnings. At 22 Times Profits, Is It a Buy?
• Negative Sentiment: Investors are also reacting to a “valuation reset” and weaker transparency after Netflix said it will report key viewership metrics less often, making it harder to measure progress. Is Netflix Asking Investors To Trust A Story It Will No Longer Tell?
• Negative Sentiment: The selloff has been amplified by bearish calls and articles arguing that sentiment remains weak, with some analysts saying the stock still has room to fall despite the recent drop. ‘Scratching the Surface,’ Says Top Investor About Netflix Stock
• Negative Sentiment: Netflix also completed a $1 billion senior notes offering to refinance debt, which is financially prudent but may reinforce the market’s focus on capital structure rather than growth. Netflix Issues $1 Billion Senior Notes to Refinance Debt

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $68.53 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.41. Netflix, Inc. has a 12 month low of $65.08 and a 12 month high of $126.71. The firm has a market capitalization of $285.35 billion, a P/E ratio of 21.57, a P/E/G ratio of 0.86 and a beta of 1.52. The company’s fifty day moving average price is $79.04 and its 200 day moving average price is $86.31.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The business had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, sell-side analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

About Netflix

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.