Netflix, Inc. $NFLX Stock Sold by Kieckhefer Group LLC

Kieckhefer Group LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 27.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,550 shares of the Internet television network’s stock after selling 16,500 shares during the quarter. Netflix accounts for about 1.2% of Kieckhefer Group LLC’s investment portfolio, making the stock its 15th largest holding. Kieckhefer Group LLC’s holdings in Netflix were worth $2,961,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NFLX. BlackRock Inc. bought a new stake in Netflix in the second quarter valued at about $24,902,221,000. State Street Corp raised its position in shares of Netflix by 4.9% during the 2nd quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock worth $12,861,252,000 after buying an additional 8,474,820 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Netflix by 4.3% in the 1st quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network’s stock worth $5,571,201,000 after buying an additional 2,376,349 shares in the last quarter. Invesco Ltd. lifted its stake in Netflix by 835.9% during the fourth quarter. Invesco Ltd. now owns 43,462,696 shares of the Internet television network’s stock valued at $4,075,062,000 after purchasing an additional 38,818,947 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Netflix in the 2nd quarter valued at $1,906,482,000. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NASDAQ NFLX traded up $0.01 during trading on Tuesday, reaching $70.61. 11,770,618 shares of the company traded hands, compared to its average volume of 42,195,477. Netflix, Inc. has a 1-year low of $65.08 and a 1-year high of $124.86. The company has a market cap of $294.04 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 0.99 and a beta of 1.62. The stock’s 50 day moving average price is $75.40 and its two-hundred day moving average price is $81.19. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating the consensus estimate of $0.79 by $0.01. Netflix had a return on equity of 40.02% and a net margin of 28.22%. The business had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.58 billion. Netflix’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 EPS. As a group, analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Netflix in a research note on Tuesday, October 6th. Loop Capital cut their target price on Netflix from $115.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Pivotal Research reduced their price objective on shares of Netflix from $96.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, July 17th. Wells Fargo & Company lowered Netflix from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $80.00 to $57.00 in a research note on Friday, September 18th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $80.00 price target (up from $75.00) on shares of Netflix in a research report on Thursday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.53.

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: KeyCorp maintained an Overweight rating and lowered its price target to $85 from $92, still implying substantial upside. The analyst identified four potential recovery levers, including improving content, strengthening advertising, better engagement and clearer communication with investors. KeyCorp and CNBC Netflix coverage
• Positive Sentiment: Some investors view the selloff as a long-term opportunity, pointing to resilient economics, continued sales growth, strong margins and a historically below-average earnings multiple. Netflix was also selected as a “Final Trade” on CNBC, indicating that some market participants remain bullish. Netflix long-term investment case
• Neutral Sentiment: Netflix reports third-quarter results on October 20. Wall Street will focus on whether revenue can meet guidance for approximately 12% growth, as well as advertising momentum, subscriber and viewing trends, content performance and management’s outlook. Free cash flow is a key concern because it declined alongside operating cash flow last quarter. Netflix earnings and free cash flow preview
• Negative Sentiment: Huber Research downgraded NFLX from Buy to Sell and sharply reduced its price target, adding to the negative analyst sentiment surrounding the stock. Huber Research Netflix downgrade
• Negative Sentiment: Investors are increasingly concerned about slowing growth in Netflix’s largest market: U.S. and Canada revenue growth fell to 10%, while competition from YouTube and other streaming services, content-quality issues and weaker engagement weigh on the outlook. Reports of potentially significant layoffs reinforce concerns about slowing momentum and cost pressure. Netflix regional growth concerns

Insider Buying and Selling

In other news, Director Richard Barton sold 2,160 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $75.10, for a total value of $162,216.00. Following the transaction, the director directly owned 246 shares of the company’s stock, valued at $18,474.60. The trade was a 89.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore Sarandos sold 105,850 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $73.03, for a total value of $7,730,225.50. Following the completion of the transaction, the chief executive officer directly owned 206,266 shares in the company, valued at approximately $15,063,605.98. This represents a 33.91% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 179,045 shares of company stock valued at $13,132,194 in the last ninety days. 1.24% of the stock is owned by corporate insiders.

About Netflix

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that operates a subscription-based streaming service. It offers a broad range of television series, films, documentaries, and other programming, including original productions developed under the Netflix brand and licensed content from third-party studios.

The company also provides advertising-supported viewing options in some markets and has expanded into related entertainment categories, including mobile and cloud-based games, live programming, and consumer products associated with selected titles.