Apriem Advisors raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 713.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,740 shares of the Internet television network’s stock after buying an additional 11,173 shares during the period. Apriem Advisors’ holdings in Netflix were worth $1,195,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Tortoise Investment Management LLC boosted its stake in Netflix by 10.8% during the 3rd quarter. Tortoise Investment Management LLC now owns 92 shares of the Internet television network’s stock valued at $110,000 after purchasing an additional 9 shares during the last quarter. Brass Tax Wealth Management Inc. boosted its stake in Netflix by 3.2% during the 3rd quarter. Brass Tax Wealth Management Inc. now owns 288 shares of the Internet television network’s stock valued at $345,000 after purchasing an additional 9 shares during the last quarter. Pacific Sun Financial Corp boosted its stake in Netflix by 1.6% during the 3rd quarter. Pacific Sun Financial Corp now owns 574 shares of the Internet television network’s stock valued at $688,000 after purchasing an additional 9 shares during the last quarter. RS Crum Inc. boosted its stake in Netflix by 3.6% during the 3rd quarter. RS Crum Inc. now owns 288 shares of the Internet television network’s stock valued at $345,000 after purchasing an additional 10 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its stake in Netflix by 9.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock valued at $137,000 after purchasing an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.
Netflix Price Performance
Netflix stock opened at $80.34 on Friday. Netflix, Inc. has a 52 week low of $75.01 and a 52 week high of $134.12. The company’s 50 day moving average price is $90.93 and its two-hundred day moving average price is $91.11. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.43. The stock has a market cap of $338.30 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.02 and a beta of 1.50.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on NFLX. Pivotal Research set a $96.00 price target on Netflix and gave the company a “hold” rating in a research note on Friday, April 17th. Wells Fargo & Company began coverage on Netflix in a research note on Monday, March 9th. They set an “equal weight” rating and a $105.00 price target for the company. Arete Research upgraded Netflix from a “neutral” rating to a “buy” rating in a research note on Friday, February 27th. DZ Bank reiterated a “buy” rating on shares of Netflix in a research note on Friday, April 17th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Netflix in a research report on Thursday, June 4th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.39.
Check Out Our Latest Stock Analysis on NFLX
Trending Headlines about Netflix
Here are the key news stories impacting Netflix this week:
- Positive Sentiment: Jim Cramer said, “I want to buy Netflix,” which can reinforce the view that the recent weakness is a buying opportunity rather than a sign of deteriorating fundamentals. Jim Cramer Says “I Want to Buy Netflix”
- Positive Sentiment: Analyst-focused articles noted that Netflix has fallen sharply since its last earnings report, but Wall Street still sees meaningful upside, suggesting valuation support if growth reaccelerates. Here’s What Dragging Netflix (NFLX) Down
- Positive Sentiment: Omdia forecast Netflix could approach 400 million subscribers by 2031, reinforcing the company’s long-term leadership in global streaming and supporting the bull case for future revenue growth. Omdia: Netflix to Reach 400 Million Subscribers by 2031
- Positive Sentiment: Netflix’s new FIFA gaming partnership adds another engagement lever, which could help reduce churn and strengthen subscriber retention over time. FIFA Deal Tests How Netflix Uses Games To Deepen Subscriber Engagement
- Neutral Sentiment: Commentary that Netflix remains a “high-quality compounder back on sale” reflects a favorable long-term view, but it does not add a new near-term catalyst. Netflix: A High-Quality Compounder Back On Sale
- Neutral Sentiment: Multiple articles framed Netflix as one of the better long-term stock ideas in the media space, but these are mostly opinion pieces rather than hard business updates. Netflix (NFLX): 10 Best Stocks to Buy Now For Next 3 Months
- Negative Sentiment: A price-target cut due to a lack of fresh catalysts points to investor concern that Netflix may need a clearer near-term driver to regain momentum. Netflix Stock Gets Price-Target Cut On Lack Of Catalysts
- Negative Sentiment: The proposed Paramount Skydance/Warner Bros. Discovery deal could create a larger streaming competitor, which is one reason Netflix publicly opposed the transaction. DOJ Clears Paramount Skydance’s $110 Billion Warner Bros. Discovery Acquisition Without Conditions
Insider Buying and Selling
In related news, CFO Spencer Adam Neumann sold 9,253 shares of Netflix stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $88.95, for a total value of $823,054.35. Following the sale, the chief financial officer owned 73,787 shares of the company’s stock, valued at approximately $6,563,353.65. The trade was a 11.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Theodore A. Sarandos sold 27,312 shares of Netflix stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total transaction of $2,402,636.64. Following the completion of the sale, the chief executive officer directly owned 284,804 shares in the company, valued at $25,054,207.88. This trade represents a 8.75% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,313,029 shares of company stock worth $120,315,776 in the last three months. Insiders own 1.24% of the company’s stock.
About Netflix
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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