Glenmede Trust Co. NA Decreases Stock Holdings in Netflix, Inc. $NFLX

Glenmede Trust Co. NA lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 15.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 657,790 shares of the Internet television network’s stock after selling 121,604 shares during the period. Glenmede Trust Co. NA’s holdings in Netflix were worth $63,247,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its position in Netflix by 875.7% during the 4th quarter. Checchi Capital Advisers LLC now owns 31,143 shares of the Internet television network’s stock valued at $2,920,000 after purchasing an additional 27,951 shares during the period. BNC Wealth Management LLC raised its holdings in Netflix by 991.3% in the 4th quarter. BNC Wealth Management LLC now owns 41,229 shares of the Internet television network’s stock worth $3,866,000 after purchasing an additional 37,451 shares in the last quarter. Crew Capital Management Ltd lifted its position in shares of Netflix by 1,021.9% in the 4th quarter. Crew Capital Management Ltd now owns 9,031 shares of the Internet television network’s stock worth $847,000 after purchasing an additional 8,226 shares during the period. Family Capital Trust Co lifted its position in shares of Netflix by 20,869.5% in the 4th quarter. Family Capital Trust Co now owns 27,470 shares of the Internet television network’s stock worth $2,576,000 after purchasing an additional 27,339 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Netflix by 912.5% during the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock valued at $36,567,805,000 after purchasing an additional 351,493,659 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix agreed to a five-year, approximately $500 million licensing deal covering all 371 episodes of The Walking Dead universe in international markets. The agreement strengthens Netflix’s global content lineup and adds a recognizable franchise beginning in 2027. Los Angeles Times article
• Positive Sentiment: Walmart-owned Flipkart is offering qualifying loyalty members a monthly Netflix mobile subscription after four orders in a month. The partnership could support customer acquisition and engagement in India, although the direct financial impact appears limited. Reuters article

Netflix Trading Down 2.0%

Shares of NASDAQ NFLX opened at $71.71 on Friday. Netflix, Inc. has a 1 year low of $65.08 and a 1 year high of $126.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a 50-day moving average of $76.66 and a 200 day moving average of $85.41. The stock has a market cap of $298.60 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 0.92 and a beta of 1.52.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share 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 business had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts expect that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NFLX shares. Stephens began coverage on shares of Netflix in a research report on Friday, July 17th. They set an “overweight” rating on the stock. Erste Group Bank lowered shares of Netflix from a “buy” rating to a “hold” rating in a report on Monday, April 27th. TD Cowen cut their price objective on Netflix from $112.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. China Intl Cap upgraded Netflix to a “strong-buy” rating in a report on Tuesday, July 21st. Finally, New Street Research increased their target price on Netflix from $96.00 to $102.00 in a research report on Friday, April 17th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average target price of $103.48.

Insider Transactions at Netflix

In other news, Director Reed Hastings sold 386,700 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $85.97, for a total value of $33,244,599.00. Following the sale, the director directly owned 3,940 shares of the company’s stock, valued at $338,721.80. The trade was a 98.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Adam Neumann sold 9,253 shares of the firm’s 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 transaction, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at approximately $6,563,353.65. This trade represents a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 492,289 shares of company stock worth $42,186,530. Company 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.