Security National Bank of SO Dak Acquires 12,105 Shares of Netflix, Inc. $NFLX

Security National Bank of SO Dak grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 462.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,725 shares of the Internet television network’s stock after buying an additional 12,105 shares during the period. Security National Bank of SO Dak’s holdings in Netflix were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Security National Bank of Sioux City Iowa IA bought a new position in Netflix during the second quarter valued at approximately $1,195,000. Anchor Investment Management LLC increased its stake in Netflix by 1.9% in the 2nd quarter. Anchor Investment Management LLC now owns 71,185 shares of the Internet television network’s stock worth $5,083,000 after acquiring an additional 1,315 shares during the last quarter. Smith Chas P & Associates PA Cpas raised its holdings in shares of Netflix by 34.3% during the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 3,718 shares of the Internet television network’s stock worth $265,000 after acquiring an additional 950 shares in the last quarter. Talon Private Wealth LLC purchased a new stake in shares of Netflix during the 2nd quarter worth approximately $207,000. Finally, Marathon Wealth Advisors LLC boosted its position in shares of Netflix by 0.4% during the 2nd quarter. Marathon Wealth Advisors LLC now owns 44,269 shares of the Internet television network’s stock valued at $3,161,000 after acquiring an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. CICC Research cut their target price on shares of Netflix from $110.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, July 21st. Rothschild & Co Redburn lowered their price objective on shares of Netflix from $120.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. China Intl Cap raised shares of Netflix to a “strong-buy” rating in a research note on Tuesday, July 21st. Pivotal Research reduced their target price on shares of Netflix from $96.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Netflix in a research report on Thursday, August 20th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.99.

Insider Transactions at Netflix

In related news, CFO Spencer Neumann sold 9,248 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $75.79, for a total transaction of $700,905.92. Following the completion of the sale, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at approximately $5,592,316.73. This trade represents a 11.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Peters sold 27,312 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $73.54, for a total value of $2,008,524.48. Following the transaction, the chief executive officer owned 120,931 shares of the company’s stock, valued at approximately $8,893,265.74. The trade was a 18.42% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 179,045 shares of company stock valued at $13,132,194. Company insiders own 1.24% of the company’s stock.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Some analysts and investors remain constructive. Evercore reportedly views the selloff as a potential entry point, while Bill Ackman’s Pershing Square recently established a Netflix position. Supporters point to Netflix’s expanding advertising business, aggressive share repurchases and history of recovering from major downturns. Evercore wants investors to buy Netflix stock
• Positive Sentiment: Netflix continues to pursue growth through advertising, live events, sports and international programming. The company also signed a new global original-content production agreement with Studio Dragon, which could expand its content pipeline. Netflix live sports strategy
• Neutral Sentiment: Netflix joined Amazon and YouTube in forming the Streaming Access and Choice Alliance, a coalition seeking technology-neutral rules for streaming and live-sports distribution. The initiative may help shape future regulation but is unlikely to materially affect near-term results. Netflix joins streaming policy coalition
• Negative Sentiment: Wells Fargo analyst Steven Cahall said second-half viewership could decline about 4%, while viewing of Netflix’s Top 100 original titles may fall more than 20%. The bank warned that fewer breakout hits, rising churn risk and weaker engagement could pressure revenue growth, margins and the valuation multiple. Netflix downgraded by Wells Fargo
• Negative Sentiment: Coverage also highlights competitive concerns relative to Disney, whose diversified businesses, content slate and streaming profitability are viewed more favorably. Analysts argue Netflix needs another breakout franchise comparable to Squid Game and may be too focused on new formats and podcasts rather than must-watch programming. Netflix and Disney streaming competition

Netflix Trading Down 4.7%

NASDAQ:NFLX traded down $3.52 during mid-day trading on Friday, hitting $71.79. 114,250,501 shares of the stock traded hands, compared to its average volume of 43,057,676. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $124.86. The stock has a market capitalization of $298.93 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 1.08 and a beta of 1.53. The firm’s 50 day moving average is $75.85 and its two-hundred day moving average is $84.21.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $12.58 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

Netflix Company Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming access to television series, films, documentaries and other video content. Its service includes Netflix-produced and licensed programming, with offerings that may vary by market. The company also provides an advertising-supported plan in selected countries and has expanded into mobile games and other interactive entertainment.

Netflix was founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental service in the United States.