Cooper Financial Group Has $2.17 Million Stock Holdings in Netflix, Inc. $NFLX

Cooper Financial Group trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 21.8% in the second quarter, HoldingsChannel.com reports. The fund owned 30,389 shares of the Internet television network’s stock after selling 8,483 shares during the quarter. Cooper Financial Group’s holdings in Netflix were worth $2,170,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Imprint Wealth LLC acquired a new position in Netflix during the third quarter valued at approximately $25,000. Turning Point Benefit Group Inc. lifted its stake in Netflix by 13,400.0% during the fourth quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 268 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Netflix in the 4th quarter valued at $26,000. Cornerstone Financial Management LLC acquired a new stake in shares of Netflix in the 4th quarter valued at $26,000. Finally, Jessup Wealth Management Inc bought a new position in shares of Netflix in the 4th quarter valued at $27,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating on shares of Netflix in a report on Friday, April 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $85.00 price objective (down from $115.00) on shares of Netflix in a research note on Friday, July 17th. Phillip Securities upgraded Netflix from a “moderate buy” rating to a “strong-buy” rating in a research report on Sunday, July 19th. Morgan Stanley reissued an “overweight” rating and set a $90.00 target price (down from $115.00) on shares of Netflix in a research note on Tuesday, July 14th. Finally, CLSA assumed coverage on shares of Netflix in a report on Monday, July 20th. They issued an “outperform” rating for the company. Four equities 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average target price of $103.48.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix is reportedly considering launching always-on, linear-style streaming channels. The move could increase viewing time, improve content monetization and appeal to viewers seeking a traditional television experience. Netflix Killed Cable TV. Now the Streaming Giant Wants to Bring It Back
• Positive Sentiment: An extended Grand Theft Auto VI gameplay trailer is scheduled to debut on Netflix on August 27. The partnership could generate attention and engagement, although it is unlikely to materially change Netflix’s near-term financial outlook. Take-Two Stock Slips Despite News of a GTA VI Trailer Coming to Netflix
• Neutral Sentiment: Director Richard Barton’s sale of 2,160 shares was executed under a pre-arranged Rule 10b5-1 plan, making it a relatively limited signal about management’s current view of NFLX. The director retained 246 shares afterward. Netflix’s Latest Insider Sale Looks Bigger Than It Is
• Neutral Sentiment: Insider David Hyman previously sold shares to cover tax withholding tied to vested equity awards, another transaction with limited fundamental significance. Netflix’s latest quarter showed earnings slightly above expectations and 13.4% year-over-year revenue growth, but sales narrowly missed consensus.
• Negative Sentiment: CEO Gregory Peters sold 27,312 shares worth approximately $2.0 million. Although the filing did not identify a 10b5-1 plan, he continues to own more than 120,000 shares; nevertheless, the sale adds to investor concern after multiple insider transactions. Netflix Insider Plans Stock Sale as NFLX Shares Slip
• Negative Sentiment: Netflix has reportedly underperformed the S&P 500 by a wide margin over the past year. Concerns about weaker engagement, reduced viewing-data disclosure and intensifying streaming competition are weighing on sentiment and valuation. Netflix and MercadoLibre Are Underperforming the S&P 500

Netflix Stock Performance

Shares of Netflix stock opened at $73.69 on Friday. The company’s fifty day moving average is $75.56 and its 200 day moving average is $84.95. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $126.71. The stock has a market cap of $306.84 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 0.93 and a beta of 1.52. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (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 firm had revenue of $12.56 billion for the quarter, compared to the consensus estimate of $12.58 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Sell-side analysts forecast that Netflix, Inc. will post 3.59 EPS for the current year.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 27,312 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $73.54, for a total transaction of $2,008,524.48. Following the transaction, the chief executive officer directly owned 120,931 shares of the company’s stock, valued at $8,893,265.74. This represents a 18.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Theodore A. Sarandos sold 27,312 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $73.35, for a total transaction of $2,003,335.20. Following the completion of the sale, the chief executive officer owned 178,954 shares of the company’s stock, valued at $13,126,275.90. The trade was a 13.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders have sold 591,047 shares of company stock worth $48,355,766. Corporate 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.