Cetera Investment Advisers Increases Stake in Netflix, Inc. $NFLX

Cetera Investment Advisers increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,486,874 shares of the Internet television network’s stock after acquiring an additional 70,720 shares during the period. Cetera Investment Advisers’ holdings in Netflix were worth $142,963,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NFLX. Checchi Capital Advisers LLC lifted its holdings in Netflix by 875.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 31,143 shares of the Internet television network’s stock valued at $2,920,000 after acquiring an additional 27,951 shares during the period. BNC Wealth Management LLC grew its stake in shares of Netflix by 991.3% during the 4th quarter. BNC Wealth Management LLC now owns 41,229 shares of the Internet television network’s stock valued at $3,866,000 after purchasing an additional 37,451 shares during the period. Crew Capital Management Ltd grew its stake in shares of Netflix by 1,021.9% during the 4th quarter. Crew Capital Management Ltd now owns 9,031 shares of the Internet television network’s stock valued at $847,000 after purchasing an additional 8,226 shares during the period. Family Capital Trust Co increased its position in shares of Netflix by 20,869.5% during the 4th quarter. Family Capital Trust Co now owns 27,470 shares of the Internet television network’s stock valued at $2,576,000 after purchasing an additional 27,339 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Netflix by 912.5% during the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock valued at $36,567,805,000 after purchasing an additional 351,493,659 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on NFLX. Oppenheimer set a $85.00 price objective on shares of Netflix and gave the stock an “outperform” rating in a report on Friday, July 17th. DZ Bank reaffirmed a “buy” rating on shares of Netflix in a report on Friday, April 17th. Guggenheim set a $75.00 price target on shares of Netflix and gave the stock a “buy” rating in a research report on Friday, July 17th. Citizens Jmp reiterated a “market perform” rating on shares of Netflix in a research note on Wednesday, April 15th. Finally, HSBC boosted their price objective on shares of Netflix from $106.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.48.

Netflix Trading Down 0.2%

Netflix stock opened at $68.53 on Thursday. The firm has a 50 day moving average of $79.04 and a 200 day moving average of $86.31. The firm has a market capitalization of $285.35 billion, a price-to-earnings ratio of 21.57, a P/E/G ratio of 0.86 and a beta of 1.52. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $126.71. The company has a current ratio of 1.14, a quick ratio of 1.41 and a debt-to-equity ratio of 0.39.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, topping 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 company had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter last year, the business earned $0.72 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, research analysts predict 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:

• Negative Sentiment: Netflix’s Q2 results beat EPS expectations, but revenue came in slightly below consensus and management signaled growth could slow to around 12% in Q3, raising concerns about momentum. Netflix Has Plummeted Over the Past Year and Just Dropped Again on Earnings. At 22 Times Profits, Is It a Buy?
• Negative Sentiment: Investors are also reacting to a “valuation reset” and weaker transparency after Netflix said it will report key viewership metrics less often, making it harder to measure progress. Is Netflix Asking Investors To Trust A Story It Will No Longer Tell?
• Negative Sentiment: The selloff has been amplified by bearish calls and articles arguing that sentiment remains weak, with some analysts saying the stock still has room to fall despite the recent drop. ‘Scratching the Surface,’ Says Top Investor About Netflix Stock
• Negative Sentiment: Netflix also completed a $1 billion senior notes offering to refinance debt, which is financially prudent but may reinforce the market’s focus on capital structure rather than growth. Netflix Issues $1 Billion Senior Notes to Refinance Debt

Insider Transactions at Netflix

In related news, CEO Gregory K. Peters sold 27,312 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $88.69, for a total value of $2,422,301.28. Following the completion of the transaction, the chief executive officer owned 120,931 shares of the company’s stock, valued at approximately $10,725,370.39. This represents a 18.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 9,253 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $88.95, for a total transaction of $823,054.35. Following the completion of the transaction, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at $6,563,353.65. This represents a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 899,839 shares of company stock valued at $80,141,661. Company insiders own 1.24% of the company’s stock.

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.