Public Employees Retirement System of Ohio Sells 124,299 Shares of Netflix, Inc. $NFLX

Public Employees Retirement System of Ohio trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,631,177 shares of the Internet television network’s stock after selling 124,299 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Netflix were worth $116,466,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC grew its stake in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after purchasing an additional 257 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after buying an additional 144 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Netflix by 21.2% in the second quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network’s stock valued at $1,883,000 after buying an additional 246 shares during the last quarter. Strategic Investment Advisors MI increased its holdings in Netflix by 18.9% in the 2nd quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network’s stock worth $1,036,000 after buying an additional 123 shares during the period. Finally, Schnieders Capital Management LLC. increased its holdings in Netflix by 12.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network’s stock worth $2,832,000 after buying an additional 228 shares during the period. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on NFLX shares. UBS Group decreased their price objective on shares of Netflix from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Citigroup reiterated a “market perform” rating on shares of Netflix in a research note on Monday, August 17th. Wedbush reduced their target price on shares of Netflix from $118.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Seaport Research Partners downgraded shares of Netflix from a “buy” rating to a “neutral” rating in a research report on Monday, July 20th. Finally, CLSA assumed coverage on shares of Netflix in a report on Monday, July 20th. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.19.

Netflix Trading Down 2.0%

Shares of NFLX stock opened at $79.84 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14. The company 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 stock has a 50 day simple moving average of $74.56 and a 200-day simple moving average of $84.35. Netflix, Inc. has a 1-year low of $65.08 and a 1-year high of $126.71.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data 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. The company had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.Netflix’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. On average, equities research analysts expect that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Insider Transactions at Netflix

In other news, Director Bradford L. Smith sold 35,990 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $77.52, for a total transaction of $2,789,944.80. Following the transaction, the director owned 79,690 shares of the company’s stock, valued at approximately $6,177,568.80. The trade was a 31.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Adam Neumann sold 9,248 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $75.79, for a total transaction of $700,905.92. Following the completion of the sale, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at $5,592,316.73. This represents a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 600,295 shares of company stock worth $49,056,671 in the last quarter. 1.24% of the stock is owned by insiders.

Key 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

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.