Ashurst Perkins Coie Trust Co Purchases 19,223 Shares of Netflix, Inc. $NFLX

Ashurst Perkins Coie Trust Co lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 82.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,529 shares of the Internet television network’s stock after buying an additional 19,223 shares during the quarter. Ashurst Perkins Coie Trust Co’s holdings in Netflix were worth $2,959,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. American Capital Advisory LLC boosted its stake in Netflix by 0.8% during the first quarter. American Capital Advisory LLC now owns 13,990 shares of the Internet television network’s stock valued at $1,345,000 after buying an additional 109 shares during the last quarter. CWS Financial Advisors LLC grew its position in Netflix by 3.2% in the 1st quarter. CWS Financial Advisors LLC now owns 3,612 shares of the Internet television network’s stock valued at $347,000 after acquiring an additional 112 shares during the last quarter. Warner Group LLC lifted its holdings in Netflix by 2.2% during the 1st quarter. Warner Group LLC now owns 5,230 shares of the Internet television network’s stock valued at $503,000 after buying an additional 114 shares in the last quarter. Financial Avengers Inc. raised its stake in shares of Netflix by 9.8% during the first quarter. Financial Avengers Inc. now owns 1,290 shares of the Internet television network’s stock valued at $124,000 after acquiring an additional 115 shares in the last quarter. Finally, PAX Financial Group LLC raised its position in Netflix by 2.5% during the 1st quarter. PAX Financial Group LLC now owns 4,847 shares of the Internet television network’s stock valued at $466,000 after purchasing an additional 116 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix plans to eliminate approximately 6% of its global workforce, primarily across product, technology, legal and human-resources functions. Management says the restructuring will improve discipline and redirect resources toward future investments, potentially supporting margins and efficiency. Netflix is laying off roughly 6% of its workforce
• Positive Sentiment: Some analysts and investors remain constructive, arguing that Netflix’s profitable operating model, international growth and ability to reinvent its business could make the recent selloff a buying opportunity. The shares trade at roughly 22 times trailing earnings. Forget Selling Netflix: NFLX Is the Streaming Stock I’m Buying More Of
• Positive Sentiment: Netflix secured exclusive rights to the 2030 FIFA World Cup in Spain and Andorra, offering a potential engagement and subscriber-acquisition catalyst. Netflix Stock Scores as It Lands 2030 World Cup Rights
• Neutral Sentiment: Investors will look to the October 20 earnings report for evidence that revenue growth, free cash flow and viewing trends are stabilizing. Analysts expect earnings growth, but recent estimates have been trimmed modestly. Netflix Is Set to Release Earnings on Oct. 20
• Negative Sentiment: The layoffs are also being interpreted as evidence that growth and user engagement have cooled. Reports cite stronger competition from YouTube and other streaming services, while Netflix seeks to keep audiences watching. Netflix to cut 1,000 jobs as growth concerns mount
• Negative Sentiment: App-tracking data reportedly showed a 16.6% increase in U.S. churn, adding to concerns about weaker domestic demand ahead of earnings. Netflix Has New Warning Signs Ahead of Q3 Earnings
• Negative Sentiment: Analyst downgrades and lower price targets reflect concerns about rising content costs, slowing viewership and whether cost-cutting alone can solve Netflix’s engagement problem. Netflix Stock Is Double Downgraded by Huber Research

Insider Buying and Selling

In other news, Director Richard N. Barton sold 720 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $75.27, for a total transaction of $54,194.40. Following the completion of the sale, the director owned 2,460 shares of the company’s stock, valued at $185,164.20. This represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Neumann sold 9,248 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $75.79, for a total transaction of $700,905.92. Following the sale, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at approximately $5,592,316.73. This represents a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 179,045 shares of company stock worth $13,132,194 in the last quarter. 1.24% of the stock is owned by insiders.

Netflix Stock Up 0.2%

Shares of NFLX opened at $70.57 on Thursday. The firm has a market cap of $293.85 billion, a P/E ratio of 22.21, a PEG ratio of 0.99 and a beta of 1.62. Netflix, Inc. has a 12 month low of $65.08 and a 12 month high of $124.86. The stock’s 50 day moving average is $75.27 and its two-hundred day moving average is $80.87. 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 (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter last year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NFLX. Oppenheimer set a $85.00 price target on shares of Netflix and gave the company an “outperform” rating in a report on Friday, July 17th. Barclays set a $70.00 price target on Netflix and gave the company an “equal weight” rating in a research note on Wednesday, October 7th. KeyCorp lowered their price objective on shares of Netflix from $92.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday. Loop Capital decreased their target price on Netflix from $115.00 to $95.00 and set a “buy” rating for the company in a report on Friday, July 24th. Finally, Wedbush cut their price target on Netflix from $118.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.41.

Netflix Profile

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.