Netflix, Inc. $NFLX Shares Sold by 49 Wealth Management LLC

49 Wealth Management LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 75.0% in the second quarter, HoldingsChannel.com reports. The firm owned 4,395 shares of the Internet television network’s stock after selling 13,166 shares during the quarter. 49 Wealth Management LLC’s holdings in Netflix were worth $314,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NFLX. Imprint Wealth LLC acquired a new position in shares of Netflix in the third quarter worth $25,000. Wealth Watch Advisors INC acquired a new stake in shares of Netflix in the third quarter valued at $103,000. Strategic Wealth Investment Group LLC purchased a new position in Netflix in the second quarter valued at $121,000. Wiser Advisor Group LLC purchased a new position in Netflix in the third quarter valued at $114,000. Finally, Beaird Harris Wealth Management LLC grew 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 worth $137,000 after purchasing an additional 10 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 2.4%

Shares of Netflix stock 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 company has a market cap of $340.28 billion, a P/E ratio of 25.72, a PEG ratio of 1.00 and a beta of 1.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a fifty day moving average of $74.65 and a two-hundred day moving average of $84.33.

Netflix (NASDAQ:NFLX) last issued 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. The business had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. On average, analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on NFLX. Weiss Ratings cut shares of Netflix from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 26th. JPMorgan Chase & Co. dropped their price objective on shares of Netflix from $118.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. China Intl Cap upgraded shares of Netflix to a “strong-buy” rating in a report on Tuesday, July 21st. KGI Securities cut shares of Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 price objective for the company. in a research report on Friday, July 17th. Finally, Wells Fargo & Company set a $80.00 target price on shares of Netflix and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.19.

Netflix News Summary

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

Insider Buying and Selling at Netflix

In related news, CFO Spencer Adam Neumann sold 9,248 shares of Netflix stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $75.79, for a total transaction of $700,905.92. Following the completion of the transaction, the chief financial officer directly owned 73,787 shares in the company, valued at $5,592,316.73. The trade was a 11.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Theodore A. Sarandos sold 105,850 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $73.03, for a total transaction of $7,730,225.50. Following the sale, the chief executive officer directly owned 206,266 shares in the company, valued at $15,063,605.98. This represents a 33.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 600,295 shares of company stock worth $49,056,671. 1.24% of the stock is currently owned by insiders.

Netflix 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.