Security National Bank of Sioux City Iowa IA Invests $1.20 Million in Netflix, Inc. $NFLX

Security National Bank of Sioux City Iowa IA bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,735 shares of the Internet television network’s stock, valued at approximately $1,195,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Netflix during the 2nd quarter worth approximately $24,902,221,000. Geode Capital Management LLC boosted its holdings in shares of Netflix by 892.0% in the 4th quarter. Geode Capital Management LLC now owns 99,598,678 shares of the Internet television network’s stock valued at $9,305,336,000 after buying an additional 89,558,684 shares in the last quarter. Capital World Investors grew its position in shares of Netflix by 859.1% in the 4th quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock valued at $8,376,656,000 after buying an additional 80,025,890 shares during the last quarter. Norges Bank purchased a new position in shares of Netflix in the 4th quarter valued at $5,803,248,000. Finally, Invesco Ltd. raised its stake in Netflix by 835.9% during the 4th quarter. Invesco Ltd. now owns 43,462,696 shares of the Internet television network’s stock worth $4,075,062,000 after acquiring an additional 38,818,947 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In related news, Director Richard Barton sold 720 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $75.27, for a total transaction of $54,194.40. Following the completion of the sale, the director directly owned 2,460 shares of the company’s stock, valued at $185,164.20. This trade represents a 22.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore Sarandos sold 27,312 shares of Netflix stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $73.35, for a total transaction of $2,003,335.20. Following the completion of the transaction, the chief executive officer owned 178,954 shares in the company, valued at approximately $13,126,275.90. This trade represents a 13.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 three months, insiders have sold 179,045 shares of company stock valued at $13,132,194. Corporate insiders own 1.24% of the company’s stock.

Netflix Stock Performance

NFLX stock traded down $3.52 during trading on Friday, hitting $71.79. The company had a trading volume of 114,250,501 shares, compared to its average volume of 43,057,676. The firm has a 50-day moving average price of $75.85 and a 200-day moving average price of $84.21. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm has a market cap of $298.93 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 1.08 and a beta of 1.53. Netflix, Inc. has a 1-year low of $65.08 and a 1-year high of $124.86.

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

Key Headlines Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Some analysts and investors remain constructive. Evercore reportedly views the selloff as a potential entry point, while Bill Ackman’s Pershing Square recently established a Netflix position. Supporters point to Netflix’s expanding advertising business, aggressive share repurchases and history of recovering from major downturns. Evercore wants investors to buy Netflix stock
• Positive Sentiment: Netflix continues to pursue growth through advertising, live events, sports and international programming. The company also signed a new global original-content production agreement with Studio Dragon, which could expand its content pipeline. Netflix live sports strategy
• Neutral Sentiment: Netflix joined Amazon and YouTube in forming the Streaming Access and Choice Alliance, a coalition seeking technology-neutral rules for streaming and live-sports distribution. The initiative may help shape future regulation but is unlikely to materially affect near-term results. Netflix joins streaming policy coalition
• Negative Sentiment: Wells Fargo analyst Steven Cahall said second-half viewership could decline about 4%, while viewing of Netflix’s Top 100 original titles may fall more than 20%. The bank warned that fewer breakout hits, rising churn risk and weaker engagement could pressure revenue growth, margins and the valuation multiple. Netflix downgraded by Wells Fargo
• Negative Sentiment: Coverage also highlights competitive concerns relative to Disney, whose diversified businesses, content slate and streaming profitability are viewed more favorably. Analysts argue Netflix needs another breakout franchise comparable to Squid Game and may be too focused on new formats and podcasts rather than must-watch programming. Netflix and Disney streaming competition

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NFLX shares. DZ Bank reissued a “buy” rating on shares of Netflix in a research report on Monday, July 20th. KGI Securities cut Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 target price on the stock. in a research report on Friday, July 17th. Phillip Securities raised Netflix from a “moderate buy” rating to a “strong-buy” rating and set a $110.00 target price for the company in a report on Sunday, July 19th. Evercore reissued an “outperform” rating and issued a $110.00 target price (up from $100.00) on shares of Netflix in a research report on Monday. Finally, UBS Group dropped their price target on Netflix from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $95.99.

About Netflix

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming access to television series, films, documentaries and other video content. Its service includes Netflix-produced and licensed programming, with offerings that may vary by market. The company also provides an advertising-supported plan in selected countries and has expanded into mobile games and other interactive entertainment.

Netflix was founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental service in the United States.