Mizuho Markets Cayman LP cut its holdings in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 84.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,600 shares of the Internet television network’s stock after selling 14,480 shares during the period. Mizuho Markets Cayman LP’s holdings in Netflix were worth $250,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in NFLX. Pacific Sun Financial Corp increased its stake in Netflix by 1.6% in the third 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. Beaird Harris Wealth Management LLC boosted its stake in Netflix by 9.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock worth $137,000 after buying an additional 10 shares during the last quarter. Monograph Wealth Advisors LLC boosted its stake in Netflix by 1.8% in the 2nd quarter. Monograph Wealth Advisors LLC now owns 682 shares of the Internet television network’s stock worth $913,000 after buying an additional 12 shares during the last quarter. Resources Management Corp CT ADV grew its holdings in Netflix by 2.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 829 shares of the Internet television network’s stock valued at $1,110,000 after buying an additional 16 shares during the period. Finally, Sompo Asset Management Co. Ltd. grew its holdings in Netflix by 1.4% in the 2nd quarter. Sompo Asset Management Co. Ltd. now owns 1,500 shares of the Internet television network’s stock valued at $2,009,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.
Key Stories Impacting Netflix
Here are the key news stories impacting Netflix this week:
- Negative Sentiment: Netflix’s Q2 results beat EPS expectations, but revenue came in slightly below consensus and management signaled growth could slow to around 12% in Q3, raising concerns about momentum. Netflix Has Plummeted Over the Past Year and Just Dropped Again on Earnings. At 22 Times Profits, Is It a Buy?
- Negative Sentiment: Investors are also reacting to a “valuation reset” and weaker transparency after Netflix said it will report key viewership metrics less often, making it harder to measure progress. Is Netflix Asking Investors To Trust A Story It Will No Longer Tell?
- Negative Sentiment: The selloff has been amplified by bearish calls and articles arguing that sentiment remains weak, with some analysts saying the stock still has room to fall despite the recent drop. ‘Scratching the Surface,’ Says Top Investor About Netflix Stock
- Negative Sentiment: Netflix also completed a $1 billion senior notes offering to refinance debt, which is financially prudent but may reinforce the market’s focus on capital structure rather than growth. Netflix Issues $1 Billion Senior Notes to Refinance Debt
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on NFLX
Insider Activity at Netflix
In other news, insider David A. Hyman sold 5,722 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $88.08, for a total value of $503,993.76. Following the transaction, the insider owned 316,100 shares of the company’s stock, valued at approximately $27,842,088. This trade represents a 1.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Reed Hastings sold 386,700 shares of Netflix stock in a transaction 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 transaction, the director owned 3,940 shares in the company, valued at $338,721.80. The trade was a 98.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 899,839 shares of company stock valued at $80,141,661 over the last quarter. Company insiders own 1.24% of the company’s stock.
Netflix Stock Performance
NASDAQ NFLX opened at $68.53 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.41. Netflix, Inc. has a 1-year low of $65.08 and a 1-year high of $126.71. The firm has a market capitalization of $285.35 billion, a P/E ratio of 21.57, a P/E/G ratio of 0.86 and a beta of 1.52. The business’s 50-day simple moving average is $79.04 and its 200-day simple moving average is $86.31.
Netflix (NASDAQ:NFLX – Get Free Report) last posted its 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. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.58 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The company’s revenue was up 13.4% on a year-over-year basis. Equities analysts predict that Netflix, Inc. will post 3.59 EPS for the current year.
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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