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

Cetera Investment Advisers increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.0% in the 1st quarter, according to its most recent disclosure with the SEC. 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 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NFLX. First Financial Corp IN boosted its holdings in shares of Netflix by 900.0% in the 4th quarter. First Financial Corp IN now owns 270 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 243 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in shares of Netflix by 885.2% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 266 shares of the Internet television network’s stock valued at $25,000 after buying an additional 239 shares in the last quarter. Turning Point Benefit Group Inc. lifted its position in Netflix by 13,400.0% in the 4th quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock worth $25,000 after buying an additional 268 shares during the last quarter. Imprint Wealth LLC bought a new stake in Netflix in the 3rd quarter worth approximately $25,000. Finally, Cornerstone Financial Management LLC purchased a new stake in Netflix in the fourth quarter worth approximately $26,000. Institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on NFLX. Robert W. Baird set a $90.00 price target on shares of Netflix and gave the company an “outperform” rating in a research report on Wednesday. President Capital upped their price objective on shares of Netflix from $133.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. HSBC increased their target price on shares of Netflix from $106.00 to $114.00 and gave the company a “buy” rating in a report on Friday, April 10th. Daiwa Securities Group lifted their target price on shares of Netflix from $97.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Netflix from $118.00 to $85.00 and set an “overweight” rating for the company in a research note 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.48.

Insider Transactions at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 27,312 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $87.97, for a total value of $2,402,636.64. Following the transaction, the chief executive officer owned 284,804 shares in the company, valued at approximately $25,054,207.88. The trade was a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Adam Neumann sold 9,253 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $88.95, for a total transaction of $823,054.35. Following the transaction, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at approximately $6,563,353.65. This trade represents a 11.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 899,839 shares of company stock valued at $80,141,661. Company insiders own 1.24% of the company’s stock.

Key Stories 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

Netflix Stock Down 0.2%

Shares of Netflix stock opened at $68.53 on Thursday. 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, Inc. has a 52-week low of $65.08 and a 52-week high of $126.71. The stock 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. The company’s 50 day moving average price is $79.04 and its 200-day moving average price is $86.31.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $12.58 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts forecast that Netflix, Inc. will post 3.59 EPS for the current year.

About Netflix

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.