Netflix, Inc. $NFLX Stock Holdings Raised by IFP Advisors Inc

IFP Advisors Inc lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 26.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 319,749 shares of the Internet television network’s stock after purchasing an additional 66,177 shares during the period. IFP Advisors Inc’s holdings in Netflix were worth $22,248,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Netflix during the second quarter worth $24,902,221,000. State Street Corp raised its position in Netflix by 4.9% during the second quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock worth $12,861,252,000 after acquiring an additional 8,474,820 shares in the last quarter. Bank of America Corp DE raised its position in Netflix by 4.3% during the first quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network’s stock worth $5,571,201,000 after acquiring an additional 2,376,349 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Netflix during the second quarter worth $1,906,482,000. Finally, Legal & General Group Plc bought a new stake in Netflix during the second quarter worth $1,886,526,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, CEO Gregory Peters sold 27,312 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $73.54, for a total transaction of $2,008,524.48. Following the transaction, the chief executive officer owned 120,931 shares in the company, valued at approximately $8,893,265.74. This trade represents a 18.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Theodore Sarandos sold 105,850 shares of Netflix stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.03, for a total value of $7,730,225.50. Following the sale, the chief executive officer directly owned 206,266 shares of the company’s stock, valued at approximately $15,063,605.98. The trade was a 33.91% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 179,045 shares of company stock valued at $13,132,194 in the last 90 days. Corporate insiders own 1.24% of the company’s stock.

Netflix Trading Down 2.9%

Shares of NFLX stock opened at $70.53 on Friday. The firm has a 50 day moving average price of $75.17 and a two-hundred day moving average price of $80.66. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $293.68 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 1.00 and a beta of 1.62. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $124.86.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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. Netflix had a return on equity of 40.02% and a net margin of 28.22%. The company had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. As a group, analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Pivotal Research decreased their price objective on shares of Netflix from $96.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, July 17th. BMO Capital Markets restated an “outperform” rating and set a $125.00 price objective (down from $135.00) on shares of Netflix in a research note on Friday. Jefferies Financial Group set a $85.00 price objective on shares of Netflix and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler reaffirmed an “overweight” rating and issued a $85.00 target price (down from $115.00) on shares of Netflix in a report on Friday, July 17th. Finally, Seaport Research Partners cut shares of Netflix from a “buy” rating to a “neutral” rating in a report on Monday, July 20th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.82.

Trending Headlines about Netflix

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

About Netflix

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming services. Its platform offers a broad selection of television series, films, documentaries, stand-up specials and other programming, including content produced by Netflix and licensed from third-party studios and creators.

The company also develops and distributes original productions under the Netflix brand and has expanded into additional entertainment offerings, including mobile and cloud-based games in select markets and live programming.