Proficio Capital Partners LLC Buys 18,686 Shares of Netflix, Inc. $NFLX

Proficio Capital Partners LLC grew its stake in Netflix, Inc. (NASDAQ:NFLX) by 250.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,136 shares of the Internet television network’s stock after buying an additional 18,686 shares during the quarter. Proficio Capital Partners LLC’s holdings in Netflix were worth $1,866,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Netflix in the 2nd quarter worth $24,902,221,000. State Street Corp raised its stake in shares of Netflix by 927.6% in the 4th quarter. State Street Corp now owns 176,780,995 shares of the Internet television network’s stock valued at $16,574,986,000 after purchasing an additional 159,578,053 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Netflix by 892.0% in the fourth 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 purchasing an additional 89,558,684 shares in the last quarter. Capital World Investors lifted its holdings in shares of Netflix by 859.1% in the fourth quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock valued at $8,376,656,000 after purchasing an additional 80,025,890 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Netflix by 685.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 86,058,878 shares of the Internet television network’s stock worth $8,068,882,000 after buying an additional 75,107,069 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Wolfe Research raised its Netflix price target to $95 from $84, arguing that viewer-engagement concerns are overstated and that an improving second-half content slate could help the shares. Jim Cramer separately called the stock a tactical buying opportunity after its recent decline. Netflix is primed to move higher as viewer engagement improves, Wolfe Research says
• Positive Sentiment: Netflix is reportedly exploring a broader streaming-subscription hub that could allow customers to sign up for third-party services such as Peacock and Fox One. The strategy could increase convenience, subscription-related revenue, and customer retention. Netflix Stock Climbs on Plans to Become Streaming Subscription Hub
• Positive Sentiment: Expanded NFL-related content and access to rival streaming programming could give Netflix more opportunities to grow its advertising business by increasing engagement and the value of its ad-supported tier. Netflix Stock: NFL Growth and Rival Streaming Access Could Grow Its Ad Business
• Neutral Sentiment: Reports point to an upcoming Netflix preview tied to Grand Theft Auto VI. The event could generate attention and short-term engagement, but its direct financial impact on Netflix is unclear. Dear Netflix Stock Fans, Mark Your Calendars for August 27
• Negative Sentiment: Industry data indicates that streaming price increases are slowing, while premium ad-free plans have received larger hikes than ad-supported tiers. This could limit Netflix’s pricing power and revenue growth if consumers resist further increases. 3-Year Streaming Outlook: Slowing Down Pricing Hikes
• Negative Sentiment: Some investor commentary remains cautious, noting that Netflix’s strong business performance has not consistently translated into share-price momentum and that the recent rebound case may already be reflected in expectations. Here’s the Test, Says Investor About Netflix Stock

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $81.46 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a 50 day moving average price of $74.51 and a 200 day moving average price of $84.37. The stock has a market capitalization of $339.19 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.03 and a beta of 1.52. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $126.71.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, topping 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 firm had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.58 billion. During the same quarter in the previous year, the firm earned $0.72 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. Analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NFLX. Barclays decreased their price objective on Netflix from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, July 17th. Wells Fargo & Company set a $80.00 price target on Netflix and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Citigroup reaffirmed a “market perform” rating on shares of Netflix in a research note on Monday, August 17th. Bank of America reiterated a “buy” rating and issued a $125.00 price objective on shares of Netflix in a report on Monday, May 18th. Finally, Sanford C. Bernstein set a $95.00 price objective on shares of Netflix and gave the stock an “outperform” rating in a research report on Friday, July 17th. Four investment 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.19.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 386,700 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $85.97, for a total transaction of $33,244,599.00. Following the transaction, the director directly owned 3,940 shares in the company, valued at approximately $338,721.80. The trade was a 98.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore A. Sarandos sold 105,850 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $73.03, for a total transaction of $7,730,225.50. Following the sale, the chief executive officer directly owned 206,266 shares in the company, valued at $15,063,605.98. This trade represents a 33.91% 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. Insiders sold 600,295 shares of company stock valued at $49,056,671 in the last ninety days. 1.24% of the stock is currently owned by insiders.

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.