Sumitomo Life Insurance Co. Invests $2.94 Million in Netflix, Inc. $NFLX

Sumitomo Life Insurance Co. bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the second quarter, Holdings Channel.com reports. The fund bought 41,128 shares of the Internet television network’s stock, valued at approximately $2,937,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Imprint Wealth LLC acquired a new position in shares of Netflix in the 3rd quarter valued at about $25,000. Wealth Watch Advisors INC acquired a new stake in Netflix during the third quarter worth approximately $103,000. Strategic Wealth Investment Group LLC acquired a new stake in Netflix during the second quarter worth approximately $121,000. Wiser Advisor Group LLC bought a new stake in Netflix in the third quarter worth approximately $114,000. Finally, Beaird Harris Wealth Management LLC increased its holdings in Netflix by 9.6% in the third quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock worth $137,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Down 0.7%

Shares of NASDAQ:NFLX opened at $79.59 on Friday. 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 $126.71. The business’s 50 day simple moving average is $74.39 and its two-hundred day simple moving average is $84.34. The firm has a market cap of $331.41 billion, a P/E ratio of 25.05, a PEG ratio of 1.01 and a beta of 1.52.

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

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix continues to grow faster than many streaming rivals, and its lower valuation after the selloff could provide significant upside if revenue, advertising and engagement trends remain strong. A valuation model described the current setup as potentially asymmetric in investors’ favor. Netflix Is Down 40% From Its All-Time High Could Netflix Stock Double From Here?
• Positive Sentiment: JPMorgan analyst Doug Anmuth maintained an Overweight rating and an $85 price target, citing Netflix’s content pipeline and multiple initiatives to support engagement and revenue growth. The view suggests potential upside from current levels, although the analyst sees no single catalyst guaranteeing acceleration. Netflix Has No Single Silver Bullet
• Positive Sentiment: Netflix’s advertising-supported tier and broad content offering could make the company relatively resilient during a recession, as consumers may retain lower-cost entertainment subscriptions even amid economic pressure. Which Streaming Stock Would Hold Up Better in a Recession?
• Neutral Sentiment: Representatives for Meghan of Sussex reportedly held exploratory discussions about a possible role in a third season of The Gentlemen. Netflix has not ordered the season, so the potential casting has no immediate financial impact. Meghan of Sussex Eyes Role in Netflix Show The Gentlemen
• Negative Sentiment: With Netflix no longer emphasizing subscriber numbers, investors must rely more heavily on revenue growth, advertising performance, engagement and profitability metrics. That makes it harder to assess momentum and contributes to debate over whether the stock’s decline reflects a bargain or slowing growth. Netflix Is Down 40% From Its All-Time High
• Negative Sentiment: YouTube is reportedly offering creators substantial payments and warning that simultaneous Netflix deals could jeopardize marketing support and brand-campaign revenue. This could intensify competition for exclusive content and creator attention. YouTube Offers Creators Millions to Avoid Netflix Deals

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. TD Cowen cut their price target on Netflix from $112.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Weiss Ratings lowered shares of Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 26th. Citigroup reiterated a “market perform” rating on shares of Netflix in a research report on Monday. Pivotal Research cut their target price on shares of Netflix from $96.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, July 17th. Finally, Erste Group Bank lowered shares of Netflix from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.48.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 9,248 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $75.79, for a total transaction of $700,905.92. Following the transaction, the chief financial officer owned 73,787 shares in the company, valued at approximately $5,592,316.73. This represents a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 2,160 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $75.10, for a total transaction of $162,216.00. Following the completion of the transaction, the director directly owned 246 shares in the company, valued at $18,474.60. This trade represents a 89.78% 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 have sold a total of 600,295 shares of company stock worth $49,056,671 in the last quarter. Insiders own 1.24% of the company’s stock.

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.