Glenmede Trust Co. NA Sells 121,604 Shares of Netflix, Inc. $NFLX

Glenmede Trust Co. NA cut its position in Netflix, Inc. (NASDAQ:NFLX) by 15.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 657,790 shares of the Internet television network’s stock after selling 121,604 shares during the quarter. Glenmede Trust Co. NA’s holdings in Netflix were worth $63,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Checchi Capital Advisers LLC raised its stake 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 purchasing an additional 27,951 shares in the last quarter. BNC Wealth Management LLC lifted its position in Netflix by 991.3% during the fourth 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 last quarter. Crew Capital Management Ltd grew its stake in Netflix by 1,021.9% in the 4th quarter. Crew Capital Management Ltd now owns 9,031 shares of the Internet television network’s stock worth $847,000 after buying an additional 8,226 shares in the last quarter. Family Capital Trust Co grew its stake in Netflix by 20,869.5% in the 4th quarter. Family Capital Trust Co now owns 27,470 shares of the Internet television network’s stock worth $2,576,000 after buying an additional 27,339 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Netflix by 912.5% in the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock worth $36,567,805,000 after buying an additional 351,493,659 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

Shares of Netflix stock opened at $71.71 on Friday. 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 52-week low of $65.08 and a 52-week high of $126.71. The company has a fifty day moving average of $76.66 and a 200-day moving average of $85.41. The stock has a market capitalization of $298.60 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 0.92 and a beta of 1.52.

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 company had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. Equities research analysts expect that Netflix, Inc. will post 3.59 EPS for the current year.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix agreed to a five-year, approximately $500 million licensing deal covering all 371 episodes of The Walking Dead universe in international markets. The agreement strengthens Netflix’s global content lineup and adds a recognizable franchise beginning in 2027. Los Angeles Times article
• Positive Sentiment: Walmart-owned Flipkart is offering qualifying loyalty members a monthly Netflix mobile subscription after four orders in a month. The partnership could support customer acquisition and engagement in India, although the direct financial impact appears limited. Reuters article

Analysts Set New Price Targets

NFLX has been the topic of several research reports. Rosenblatt Securities set a $75.00 price objective on shares of Netflix and gave the company a “neutral” rating in a research report on Friday, July 17th. KGI Securities lowered shares of Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 target price for the company. in a research report on Friday, July 17th. Robert W. Baird set a $90.00 target price on Netflix and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company set a $80.00 price target on Netflix and gave the company an “equal weight” rating in a research report on Friday, July 17th. Finally, Weiss Ratings lowered Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 26th. Four equities research 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $103.48.

Insider Activity

In other news, CEO Theodore A. Sarandos sold 27,312 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total value of $2,402,636.64. Following the completion of the sale, the chief executive officer owned 284,804 shares of the company’s stock, valued at approximately $25,054,207.88. The trade was a 8.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory K. Peters sold 27,312 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 120,931 shares of the company’s stock, valued at $10,725,370.39. This represents a 18.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 492,289 shares of company stock valued at $42,186,530. Company insiders own 1.24% of the company’s stock.

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.