Netflix, Inc. $NFLX Position Trimmed by GFG Capital LLC

GFG Capital LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 87.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,526 shares of the Internet television network’s stock after selling 83,187 shares during the quarter. GFG Capital LLC’s holdings in Netflix were worth $802,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Netflix in the second quarter valued at $24,902,221,000. State Street Corp grew its position in shares of Netflix by 4.9% during the 2nd quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock worth $12,861,252,000 after buying an additional 8,474,820 shares in the last quarter. Bank of America Corp DE increased its position in Netflix by 4.3% during the 1st quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network’s stock valued at $5,571,201,000 after purchasing an additional 2,376,349 shares during the period. Invesco Ltd. increased its holdings in Netflix by 835.9% during the fourth quarter. Invesco Ltd. now owns 43,462,696 shares of the Internet television network’s stock valued at $4,075,062,000 after buying an additional 38,818,947 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Netflix during the 2nd quarter valued at $1,906,482,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Down 2.9%

Shares of NASDAQ NFLX opened at $70.53 on Friday. Netflix, Inc. has a 52-week low of $65.08 and a 52-week high of $124.86. The business’s 50 day moving average is $75.17 and its two-hundred day moving average is $80.66. The firm has a market cap of $293.68 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 1.02 and a beta of 1.62. 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 issued its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The company had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. Research analysts predict that Netflix, Inc. will post 3.59 EPS for the current year.

Insider Transactions at Netflix

In other news, insider David Hyman sold 5,723 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total transaction of $416,920.55. Following the completion of the transaction, the insider directly owned 316,100 shares of the company’s stock, valued at approximately $23,027,885. This represents a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Neumann sold 9,248 shares of the 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 completion of the transaction, the chief financial officer directly owned 73,787 shares in the company, valued at $5,592,316.73. This trade represents a 11.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 179,045 shares of company stock valued at $13,132,194 over the last ninety days. Company insiders own 1.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NFLX. TD Cowen restated a “buy” rating and issued a $100.00 price objective on shares of Netflix in a research note on Monday, October 5th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Netflix in a report on Thursday, August 20th. Barclays set a $70.00 target price on shares of Netflix and gave the stock an “equal weight” rating in a research note on Wednesday, October 7th. Robert W. Baird set a $90.00 price target on Netflix and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group set a $85.00 target price on shares of Netflix and gave the company a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.82.

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

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.