Netflix, Inc. $NFLX Shares Purchased by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,958 shares of the Internet television network’s stock after purchasing an additional 8,564 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Netflix were worth $4,102,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in Netflix during the 2nd quarter valued at approximately $26,000. Compound Global Advisors LLC bought a new position in Netflix during the second quarter valued at $29,000. Burnham & Co LLC purchased a new position in Netflix in the second quarter worth about $29,000. Merkkuri Wealth Advisors LLC purchased a new position in shares of Netflix in the 1st quarter worth approximately $31,000. Finally, Bayban increased its position in Netflix by 400.0% during the first quarter. Bayban now owns 350 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 280 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Key Headlines Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Jefferies upgraded Netflix (NFLX) to “strong buy,” citing potential support from pricing increases and advertising growth. Wedbush also maintained an “outperform” rating, although it lowered its price target to $90 from $105. Netflix stock gets bullish analyst call
• Positive Sentiment: Options activity is signaling expectations for a substantial post-earnings move, while sentiment remains bullish in some derivatives markets. Technical analysts also see a possible double-bottom pattern, with a break above $83.60 potentially opening a path toward $102.12. Barchart Netflix earnings outlook
• Neutral Sentiment: Netflix is replacing Chief Content Officer Bela Bajaria with former Disney and Fox executive Peter Rice. His experience across scripted programming, live sports, unscripted content and theatrical distribution could help Netflix develop new hits, but the abrupt change before earnings highlights pressure to improve engagement. Netflix appoints Peter Rice
• Negative Sentiment: Netflix announced plans to eliminate about 1,000 jobs, or 6% of its workforce, one day before the content-chief transition. Although the cuts may improve efficiency, investors viewed them as evidence of a sharper growth reset and concerns about the company’s content strategy. Netflix shares under pressure after content chief departure
• Negative Sentiment: Pre-earnings concerns include slowing viewership, rising churn, declining engagement and intensifying competition. Analysts also warn that Netflix’s premium valuation leaves little room for disappointing guidance, while options traders anticipate a move that could take the stock toward a two-year low. Netflix Q3 earnings outlook

Insider Activity at Netflix

In other Netflix news, Director Richard N. Barton sold 2,160 shares of the company’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 sale, the director owned 246 shares in the company, valued at approximately $18,474.60. This represents a 89.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Neumann sold 9,248 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was 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 in the company, valued at $5,592,316.73. The trade was a 11.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 179,045 shares of company stock valued at $13,132,194 in the last 90 days. 1.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on NFLX shares. HSBC lowered Netflix from a “buy” rating to a “hold” rating and reduced their target price for the stock from $96.00 to $76.00 in a research note on Tuesday, September 22nd. CLSA started coverage on Netflix in a report on Monday, July 20th. They set an “outperform” rating for the company. Piper Sandler restated an “overweight” rating and issued a $85.00 price target (down from $115.00) on shares of Netflix in a report on Friday, July 17th. Barclays set a $70.00 price objective on Netflix and gave the stock an “equal weight” rating in a research report on Wednesday, October 7th. Finally, Bank of America dropped their target price on shares of Netflix from $125.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.82.

Netflix Price Performance

Shares of NFLX opened at $70.53 on Friday. The business’s 50-day moving average is $75.17 and its two-hundred day moving average is $80.66. The company has a market capitalization of $293.68 billion, a P/E ratio of 22.20, a P/E/G ratio of 1.02 and a beta of 1.62. 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, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $124.86.

Netflix (NASDAQ:NFLX) last issued 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. The firm had revenue of $12.56 billion for the quarter, compared to the consensus estimate of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. Research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

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.