New Mexico Educational Retirement Board increased its stake in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 9.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 210,110 shares of the Internet television network’s stock after acquiring an additional 17,900 shares during the period. New Mexico Educational Retirement Board’s holdings in Netflix were worth $15,002,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Mufg Securities Americas Inc. increased its stake in shares of Netflix by 8.6% during the second quarter. Mufg Securities Americas Inc. now owns 126,824 shares of the Internet television network’s stock valued at $9,055,000 after acquiring an additional 10,019 shares during the period. Investors Asset Management of Georgia Inc. GA ADV lifted its position in Netflix by 1.5% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 16,525 shares of the Internet television network’s stock worth $1,180,000 after purchasing an additional 250 shares during the period. Ferguson Wellman Capital Management Inc. boosted its stake in Netflix by 25.4% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 10,352 shares of the Internet television network’s stock valued at $739,000 after purchasing an additional 2,098 shares in the last quarter. Nissay Asset Management Corp Japan boosted its stake in Netflix by 5.4% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 1,268,753 shares of the Internet television network’s stock valued at $90,589,000 after purchasing an additional 64,808 shares in the last quarter. Finally, Braun Stacey Associates Inc. increased its position in shares of Netflix by 9.5% during the 2nd quarter. Braun Stacey Associates Inc. now owns 262,861 shares of the Internet television network’s stock valued at $18,768,000 after purchasing an additional 22,760 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.
Analyst Upgrades and Downgrades
NFLX has been the topic of a number of research reports. Oppenheimer set a $85.00 price objective on Netflix and gave the stock an “outperform” rating in a research note on Friday, July 17th. Jefferies Financial Group decreased their target price on Netflix from $128.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, June 10th. Seaport Research Partners lowered Netflix from a “buy” rating to a “neutral” rating in a report on Monday, July 20th. Rosenblatt Securities set a $75.00 price target on shares of Netflix and gave the stock a “neutral” rating in a research report on Friday, July 17th. Finally, Wells Fargo & Company set a $80.00 price target on shares of Netflix and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.19.
More Netflix News
Here are the key news stories impacting Netflix this week:
- Positive Sentiment: Bill Ackman’s Pershing Square reportedly added approximately 13.1 million Netflix shares, making NFLX one of the hedge fund’s new concentrated holdings. The move may bolster investor confidence in Netflix’s valuation and long-term earnings potential. Bill Ackman portfolio overhaul article
- Positive Sentiment: Analysts and market commentators point to Netflix’s rapidly expanding advertising business, a potential $3 billion advertising revenue opportunity, continued global expansion and margin growth as catalysts for a possible recovery toward $100 and beyond. Record share buybacks could further support earnings per share. Netflix stock price prediction article
- Positive Sentiment: Netflix is being described as an undervalued long-term holding, with bullish arguments centered on double-digit revenue growth, free-cash-flow generation and the ability to monetize live events and lower-priced ad-supported plans. Netflix five-year outlook article
- Neutral Sentiment: The Netflix preview of Grand Theft Auto VI attracted significant online attention and traffic, but the immediate stock-market beneficiary appears to be Take-Two Interactive, the game’s publisher, rather than Netflix. GTA 6 Netflix preview article
- Negative Sentiment: Some analysts argue that Netflix’s growth is moderating and that Alphabet offers stronger diversification, advertising exposure and valuation. Recent commentary also identifies resistance near $82 and muted enthusiasm following the latest earnings report. NFLX versus GOOGL article
- Negative Sentiment: Reported insider activity remains a potential overhang: executives and directors made numerous sales and no purchases over the past six months. Investors may interpret the selling as reduced insider conviction, although it may also reflect routine diversification. Netflix ad monetization and market resistance article
Netflix Trading Up 2.4%
Shares of NASDAQ NFLX opened at $81.72 on Friday. Netflix, Inc. has a one year low of $65.08 and a one year high of $126.71. The firm has a market capitalization of $340.28 billion, a PE ratio of 25.72, a PEG ratio of 1.00 and a beta of 1.52. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $74.65 and a two-hundred day moving average price of $84.33.
Netflix (NASDAQ:NFLX – Get Free Report) last posted 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 business had revenue of $12.56 billion during 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 firm’s revenue 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. As a group, analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Netflix news, CFO Spencer Adam Neumann sold 9,248 shares of Netflix 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 sale, the chief financial officer owned 73,787 shares of the company’s stock, valued at $5,592,316.73. This trade represents a 11.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gregory K. 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 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 represents a 18.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 600,295 shares of company stock worth $49,056,671. Insiders own 1.24% of the company’s stock.
Netflix Company 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.
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