First Trust Advisors LP Reduces Stake in Netflix, Inc. $NFLX

First Trust Advisors LP lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 26.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,593,167 shares of the Internet television network’s stock after selling 2,021,908 shares during the period. First Trust Advisors LP owned 0.13% of Netflix worth $537,783,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after buying an additional 144 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Netflix by 21.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network’s stock worth $1,883,000 after buying an additional 246 shares during the last quarter. Strategic Investment Advisors MI boosted its holdings in shares of Netflix by 18.9% in the 2nd quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network’s stock valued at $1,036,000 after buying an additional 123 shares in the last quarter. Finally, Schnieders Capital Management LLC. boosted its holdings in shares of Netflix by 12.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network’s stock valued at $2,832,000 after buying an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix delivered an earnings beat and continues to post double-digit revenue growth, while bulls argue the selloff has made the stock look inexpensive on earnings and cash flow. Netflix “Is Not a Broken Company” and Trades At Just 19x Earnings. Jim Cramer Says Start Buying
• Positive Sentiment: Several analysts and commentators say the post-earnings drop may have created a buying opportunity, citing Netflix’s ad business, live content ambitions, international growth, and strong free-cash-flow potential. Netflix (NFLX) Stock Still Looks Cheap On Cash Flow And Earnings
• Positive Sentiment: Phillip Securities upgraded Netflix from “moderate buy” to “strong-buy,” with one analyst saying engagement shows no signs of slowing and setting a higher price target than the current trading level. Netflix, Inc. (NFLX) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Wall Street coverage remains active and largely mixed-to-bullish, with some reports pointing to meaningful upside in consensus price targets even after the recent slide. Netflix Fell 45% Over 12 Months But This Ratings House Sees A Doubling Share Price
• Negative Sentiment: Investors are worried about softer revenue guidance, slowing growth momentum, and Netflix making viewership metrics harder to track, which raises questions about transparency and future monetization. Netflix (NFLX) Could Be 18% Undervalued After Soft Guidance Raised Fresh Growth Questions
• Negative Sentiment: Multiple articles described the stock’s recent action as a sharp post-earnings crash or “miserable stretch,” reflecting concern that the latest quarter did not convince investors that growth will reaccelerate soon. Netflix just made its slowdown harder to measure

Analyst Ratings Changes

Several equities research analysts recently commented on NFLX shares. Piper Sandler reiterated an “overweight” rating and set a $85.00 price target (down from $115.00) on shares of Netflix in a research note on Friday. Citic Securities upped their price objective on shares of Netflix from $95.00 to $107.00 and gave the company a “hold” rating in a research note on Monday, April 27th. New Street Research raised their price objective on Netflix from $96.00 to $102.00 in a report on Friday, April 17th. Barclays dropped their price objective on Netflix from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, July 17th. Finally, Guggenheim set a $75.00 target price on Netflix and gave the company a “buy” rating in a report on Friday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $104.21.

Insider Activity at Netflix

In related news, Director Bradford L. Smith sold 35,990 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $77.52, for a total transaction of $2,789,944.80. Following the sale, the director owned 79,690 shares in the company, valued at approximately $6,177,568.80. This trade represents a 31.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David A. Hyman sold 5,722 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $88.08, for a total transaction of $503,993.76. Following the transaction, the insider directly owned 316,100 shares of the company’s stock, valued at approximately $27,842,088. This represents a 1.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 899,839 shares of company stock worth $80,141,661 over the last three months. Company insiders own 1.24% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $68.67 on Wednesday. The company has a market cap of $285.94 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 0.85 and a beta of 1.52. Netflix, Inc. has a one year low of $65.08 and a one year high of $126.71. The business has a fifty day moving average of $79.42 and a two-hundred day moving average of $86.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.41 and a current ratio of 1.14.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. The company had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.Netflix’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 earnings per share. As a group, analysts predict that Netflix, Inc. will post 3.6 earnings per share for the current fiscal year.

Netflix Company 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.