Netflix, Inc. $NFLX Shares Sold by Community Financial Services Group LLC

Community Financial Services Group LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 94.6% in the third quarter, Holdings Channel reports. The institutional investor owned 2,370 shares of the Internet television network’s stock after selling 41,339 shares during the period. Community Financial Services Group LLC’s holdings in Netflix were worth $161,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of NFLX. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Netflix during the 2nd quarter worth about $26,000. Compound Global Advisors LLC acquired a new stake in shares of Netflix during the 2nd quarter worth about $29,000. Burnham & Co LLC acquired a new stake in Netflix in the 2nd quarter valued at approximately $29,000. Merkkuri Wealth Advisors LLC purchased a new position in shares of Netflix during the first quarter worth $31,000. Finally, Bayban grew its stake in shares of Netflix by 400.0% in the first quarter. Bayban now owns 350 shares of the Internet television network’s stock valued at $34,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

More Netflix News

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

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 5,723 shares of Netflix stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $72.85, for a total value of $416,920.55. Following the transaction, the insider owned 316,100 shares in the company, valued at $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 is available through this link. 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 company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $73.54, for a total value of $2,008,524.48. Following the sale, the chief executive officer owned 120,931 shares of the company’s stock, valued at $8,893,265.74. This represents a 18.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 179,045 shares of company stock worth $13,132,194 in the last 90 days. 1.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NFLX. HSBC lowered Netflix from a “buy” rating to a “hold” rating and decreased their target price for the company from $96.00 to $76.00 in a report on Tuesday, September 22nd. Oppenheimer set a $85.00 price objective on Netflix and gave the company an “outperform” rating in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft raised Netflix from a “hold” rating to a “buy” rating and lowered their price target for the company from $100.00 to $95.00 in a report on Tuesday, September 29th. New Street Research upped their target price on shares of Netflix from $96.00 to $102.00 and gave the company a “neutral” rating in a report on Friday, July 17th. Finally, Stephens assumed coverage on Netflix in a report on Friday, July 17th. They set an “overweight” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.41.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $72.61 on Friday. The company has a market cap of $302.34 billion, a P/E ratio of 22.85, a PEG ratio of 1.00 and a beta of 1.62. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $124.86. The company has a 50-day moving average price of $75.25 and a 200 day moving average price of $80.73. 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 (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The company had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the firm earned $0.72 EPS. Research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

Netflix 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.