Corient Private Wealth LP boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 133.2% in the second quarter, Holdings Channel reports. The firm owned 6,295,989 shares of the Internet television network’s stock after acquiring an additional 3,595,881 shares during the period. Corient Private Wealth LP’s holdings in Netflix were worth $449,534,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Imprint Wealth LLC bought a new position in Netflix in the 3rd quarter worth $25,000. Wealth Watch Advisors INC acquired a new position in Netflix during the 3rd quarter worth $103,000. Strategic Wealth Investment Group LLC bought a new stake in Netflix during the second quarter valued at about $121,000. Wiser Advisor Group LLC bought a new stake in Netflix during the third quarter valued at about $114,000. Finally, Beaird Harris Wealth Management LLC grew its position in shares of Netflix by 9.6% in the third 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.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on NFLX shares. KeyCorp reiterated an “overweight” rating and issued a $92.00 price objective (down from $115.00) on shares of Netflix in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft set a $110.00 target price on Netflix in a report on Monday, July 20th. KGI Securities downgraded Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 price target on the stock. in a research report on Friday, July 17th. TD Cowen cut their target price on shares of Netflix from $112.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Finally, The Goldman Sachs Group downgraded shares of Netflix from an “underweight” rating to a “sell” rating in a report on Monday, July 20th. Four equities 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.19.
Netflix Price Performance
Shares of NASDAQ:NFLX opened at $81.46 on Thursday. The firm has a market capitalization of $339.19 billion, a PE ratio of 25.64, a PEG ratio of 1.03 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. Netflix, Inc. has a 1-year low of $65.08 and a 1-year high of $126.71. The business’s 50 day moving average is $74.51 and its 200-day moving average is $84.37.
Netflix (NASDAQ:NFLX – Get Free Report) last issued its earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating 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 return on equity of 40.02% and a net margin of 28.22%.Netflix’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. Sell-side analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.
Insider Transactions at Netflix
In other news, CEO Gregory K. Peters sold 27,312 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $73.54, for a total value of $2,008,524.48. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 5,723 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $72.85, for a total transaction of $416,920.55. Following the completion of the transaction, the insider owned 316,100 shares of the company’s stock, valued at approximately $23,027,885. This represents a 1.78% 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. Over the last three months, insiders have sold 600,295 shares of company stock worth $49,056,671. 1.24% of the stock is currently owned by company insiders.
Key Headlines 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
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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