Equitable Holdings Inc. Sells 27,575 Shares of Netflix, Inc. $NFLX

Equitable Holdings Inc. lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 195,115 shares of the Internet television network’s stock after selling 27,575 shares during the quarter. Equitable Holdings Inc.’s holdings in Netflix were worth $13,931,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Imprint Wealth LLC bought a new stake in Netflix during the 3rd quarter worth about $25,000. Turning Point Benefit Group Inc. grew its holdings 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 acquiring an additional 268 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Netflix in the fourth quarter valued at about $26,000. Cornerstone Financial Management LLC acquired a new position in Netflix during the fourth quarter valued at approximately $26,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in Netflix during the second quarter valued at approximately $26,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NFLX has been the topic of several recent analyst reports. Wedbush lowered their price target on Netflix from $118.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. The Goldman Sachs Group downgraded Netflix from an “underweight” rating to a “sell” rating in a report on Monday, July 20th. Jefferies Financial Group decreased their target price on shares of Netflix from $128.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, June 10th. Seaport Research Partners downgraded shares of Netflix from a “buy” rating to a “neutral” rating in a report on Monday, July 20th. Finally, Stephens started coverage on shares of Netflix in a research report on Friday, July 17th. They set an “overweight” rating on the stock. Four 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.19.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix’s advertising strategy remains a potential earnings catalyst. The company is targeting roughly $3 billion in advertising revenue, while expanding ad-supported plans globally and incorporating live events to improve monetization. Netflix Stock Opinions on Ad Monetization and Market Resistance
• Positive Sentiment: Analyst support and a stronger content lineup are helping underpin the recovery narrative. Wolfe Research recently raised its price target to $95, while reports of a Netflix-related Grand Theft Auto VI preview and other upcoming releases could support engagement and subscriber monetization. Jim Cramer Says Netflix Worth the Risk as Wolfe Raises Price Target to $95
• Neutral Sentiment: The stock has historically attracted buyers near its current technical floor, and it has recovered more than 21% from a recent low. However, investors are watching whether the rebound can break through resistance and develop into a sustained advance. NFLX Has Bounced From This Price Before. Now What?
• Neutral Sentiment: Netflix continues to post solid fundamentals: latest quarterly revenue rose 13.4% year over year to $12.56 billion, while earnings modestly exceeded expectations. The slight revenue miss and debate over slowing growth, however, have limited investor enthusiasm.
• Negative Sentiment: Relative weakness is notable because Netflix declined even as the broader market advanced. Analysts increasingly view Alphabet as having an edge because of its faster-growing, diversified advertising business and lower valuation, raising concerns about Netflix’s multiple and future growth rate. NFLX vs. GOOGL: Which Streaming and Ad Stock Has an Edge Right Now?
• Negative Sentiment: Reported insider activity has been heavily skewed toward selling, with no insider purchases and multiple sales by executives and directors over the past six months. While such transactions do not necessarily signal deteriorating operations, they can weigh on sentiment during a technical pullback. Netflix Insider Trading and Market Resistance

Netflix Stock Performance

NFLX opened at $79.84 on Friday. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $126.71. The stock has a market cap of $332.45 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.02 and a beta of 1.52. The business has a 50 day moving average of $74.56 and a 200-day moving average of $84.35. 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 posted its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The business had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter in the prior year, the business earned $0.72 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, Director Reed Hastings sold 386,700 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $85.97, for a total value of $33,244,599.00. Following the transaction, the director directly owned 3,940 shares of the company’s stock, valued at $338,721.80. This represents a 98.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradford L. Smith sold 35,990 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total value of $2,789,944.80. Following the sale, the director owned 79,690 shares of the company’s stock, valued at approximately $6,177,568.80. This represents a 31.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 600,295 shares of company stock valued at $49,056,671. 1.24% of the stock is currently owned by insiders.

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.