Magnolia Capital Advisors LLC Buys Shares of 6,572 Netflix, Inc. $NFLX

Magnolia Capital Advisors LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,572 shares of the Internet television network’s stock, valued at approximately $469,000.

A number of other large investors have also modified their holdings of NFLX. Turning Point Benefit Group Inc. increased its stake in shares of Netflix by 13,400.0% in the fourth quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 268 shares during the period. Imprint Wealth LLC acquired a new position in shares of Netflix during the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC bought a new stake in Netflix in the fourth quarter worth about $26,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Netflix in the 2nd quarter worth approximately $26,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Netflix during the 4th quarter valued at $26,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on NFLX shares. Jefferies Financial Group cut their price objective on Netflix from $128.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, June 10th. Sanford C. Bernstein set a $95.00 price objective on shares of Netflix and gave the stock an “outperform” rating in a research report on Friday, July 17th. Wells Fargo & Company set a $80.00 target price on Netflix and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Piper Sandler reiterated an “overweight” rating and set a $85.00 price target (down from $115.00) on shares of Netflix in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. dropped their price target on Netflix from $118.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Four investment 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 issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.19.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Wolfe Research raised its Netflix price target to $95 from $84, arguing that viewer-engagement concerns are overstated and that an improving second-half content slate could help the shares. Jim Cramer separately called the stock a tactical buying opportunity after its recent decline. Netflix is primed to move higher as viewer engagement improves, Wolfe Research says
• Positive Sentiment: Netflix is reportedly exploring a broader streaming-subscription hub that could allow customers to sign up for third-party services such as Peacock and Fox One. The strategy could increase convenience, subscription-related revenue, and customer retention. Netflix Stock Climbs on Plans to Become Streaming Subscription Hub
• Positive Sentiment: Expanded NFL-related content and access to rival streaming programming could give Netflix more opportunities to grow its advertising business by increasing engagement and the value of its ad-supported tier. Netflix Stock: NFL Growth and Rival Streaming Access Could Grow Its Ad Business
• Neutral Sentiment: Reports point to an upcoming Netflix preview tied to Grand Theft Auto VI. The event could generate attention and short-term engagement, but its direct financial impact on Netflix is unclear. Dear Netflix Stock Fans, Mark Your Calendars for August 27
• Negative Sentiment: Industry data indicates that streaming price increases are slowing, while premium ad-free plans have received larger hikes than ad-supported tiers. This could limit Netflix’s pricing power and revenue growth if consumers resist further increases. 3-Year Streaming Outlook: Slowing Down Pricing Hikes
• Negative Sentiment: Some investor commentary remains cautious, noting that Netflix’s strong business performance has not consistently translated into share-price momentum and that the recent rebound case may already be reflected in expectations. Here’s the Test, Says Investor About Netflix Stock

Insider Activity at Netflix

In other Netflix news, Director Bradford L. Smith sold 35,990 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total transaction of $2,789,944.80. Following the completion of the sale, the director owned 79,690 shares of the company’s stock, valued at $6,177,568.80. This represents a 31.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Reed Hastings sold 386,700 shares of Netflix stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $85.97, for a total transaction of $33,244,599.00. Following the completion of the transaction, the director directly owned 3,940 shares in the company, valued at approximately $338,721.80. This represents a 98.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 600,295 shares of company stock valued at $49,056,671. Insiders own 1.24% of the company’s stock.

Netflix Stock Down 0.9%

NFLX opened at $81.46 on Thursday. The company has a market capitalization of $339.19 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.03 and a beta of 1.52. The business has a 50-day moving average of $74.51 and a 200-day moving average of $84.37. Netflix, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $126.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. The firm 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 company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. Equities research analysts forecast that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Netflix Profile

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.