6,312,296 Shares in Netflix, Inc. $NFLX Acquired by Corient Private Wealth LP

Corient Private Wealth LP bought a new position in Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 6,312,296 shares of the Internet television network’s stock, valued at approximately $225,109,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. Turning Point Benefit Group Inc. boosted its stake in shares of 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 valued at $25,000 after purchasing an additional 268 shares in the last quarter. Imprint Wealth LLC bought a new position in shares of Netflix during the 3rd quarter valued at $25,000. Cornerstone Financial Management LLC purchased a new position in Netflix in the 4th quarter worth $26,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in Netflix in the 2nd quarter worth $26,000. Finally, Atlas Capital Advisors Inc. bought a new stake in Netflix in the fourth quarter worth $26,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $81.46 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average price of $74.51 and a 200-day moving average price of $84.37. The company has a market cap of $339.19 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.03 and a beta of 1.52. Netflix, Inc. has a 12 month low of $65.08 and a 12 month high of $126.71.

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

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 9,248 shares of Netflix stock in a transaction on Monday, August 10th. The shares were sold at an average price of $75.79, for a total value of $700,905.92. Following the sale, the chief financial officer owned 73,787 shares in the company, valued at $5,592,316.73. The trade was a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David A. Hyman sold 5,723 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $72.85, for a total transaction of $416,920.55. Following the transaction, the insider directly owned 316,100 shares in the company, valued at approximately $23,027,885. The trade was a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 600,295 shares of company stock worth $49,056,671. Corporate insiders own 1.24% of the company’s stock.

Netflix News Summary

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

Analysts Set New Price Targets

Several research firms have issued reports on NFLX. KeyCorp restated an “overweight” rating and set a $92.00 price target (down from $115.00) on shares of Netflix in a research report on Monday, July 13th. CLSA assumed coverage on Netflix in a report on Monday, July 20th. They issued an “outperform” rating on the stock. KGI Securities lowered Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 target price for the company. in a research note on Friday, July 17th. Pivotal Research dropped their target price on Netflix from $96.00 to $70.00 and set a “hold” rating for the company in a report on Friday, July 17th. Finally, Deutsche Bank Aktiengesellschaft set a $110.00 price target on Netflix in a research note on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.19.

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.