Netflix, Inc. $NFLX Stock: Daytona Street Capital LLC Boosts Stake

Daytona Street Capital LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 41.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,179 shares of the Internet television network’s stock after acquiring an additional 21,234 shares during the period. Netflix comprises approximately 3.3% of Daytona Street Capital LLC’s holdings, making the stock its 5th biggest position. Daytona Street Capital LLC’s holdings in Netflix were worth $4,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Nykredit A S bought a new stake in shares of Netflix during the second quarter valued at about $105,697,000. Rockland Trust Co. lifted its holdings in Netflix by 27.5% in the third quarter. Rockland Trust Co. now owns 219,221 shares of the Internet television network’s stock worth $15,253,000 after purchasing an additional 47,339 shares during the period. Ritholtz Wealth Management grew its position in Netflix by 25.0% in the 1st quarter. Ritholtz Wealth Management now owns 106,451 shares of the Internet television network’s stock valued at $10,235,000 after buying an additional 21,260 shares in the last quarter. Welch & Forbes LLC grew its position in Netflix by 3,464.5% in the 1st quarter. Welch & Forbes LLC now owns 118,448 shares of the Internet television network’s stock valued at $11,389,000 after buying an additional 115,125 shares in the last quarter. Finally, USS Investment Management Ltd grew its position in Netflix by 31.8% in the 1st quarter. USS Investment Management Ltd now owns 886,527 shares of the Internet television network’s stock valued at $85,244,000 after buying an additional 213,972 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 2.9%

NFLX opened at $72.61 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. The company has a market capitalization of $302.34 billion, a PE ratio of 22.85, a P/E/G ratio of 1.00 and a beta of 1.62. The stock’s fifty day moving average is $75.25 and its 200-day moving average is $80.73. Netflix, Inc. has a one year low of $65.08 and a one year high of $124.86.

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

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Jefferies initiated coverage with a Buy rating and an $85 price target, citing potential revenue support from subscription-price increases and advertising. Netflix stock gets bullish analyst call ahead of next week’s earnings
• Positive Sentiment: Netflix named former Disney and Fox executive Peter Rice as chief content officer, replacing Bela Bajaria. Rice’s experience could help Netflix improve its content strategy and viewer engagement as competition intensifies. Netflix names former Disney executive Rice as new content chief
• Neutral Sentiment: Netflix will release third-quarter results on October 20. Wall Street estimates for revenue, earnings and operating metrics may drive volatility as investors look for evidence that pricing, advertising and content investments are offsetting weaker engagement. Ahead of Netflix Q3 earnings
• Negative Sentiment: Netflix is eliminating roughly 1,000 positions, or 6% of its workforce, its largest reduction since 2022. Management described the move as a resource-allocation and efficiency effort, but investors may view it as evidence of slowing growth and pressure to control costs. Netflix is laying off roughly 6% of its workforce
• Negative Sentiment: Reports citing app data indicate U.S. churn has risen and viewing engagement has weakened. Those trends raise questions about Netflix’s ability to retain subscribers amid competition from other streaming services, YouTube and creator-led video. Netflix warning signs ahead of Q3 earnings

Insider Activity

In other Netflix news, CFO Spencer 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 value 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 approximately $5,592,316.73. This represents a 11.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 2,160 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $75.10, for a total transaction of $162,216.00. Following the completion of the sale, the director directly owned 246 shares of the company’s stock, valued at $18,474.60. The trade was a 89.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 179,045 shares of company stock valued at $13,132,194 over the last quarter. Insiders own 1.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on NFLX. Weiss Ratings raised shares of Netflix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Phillip Securities raised shares of Netflix from a “moderate buy” rating to a “strong-buy” rating and set a $110.00 price target for the company in a research note on Sunday, July 19th. Evercore reaffirmed an “outperform” rating and issued a $110.00 price target (up from $100.00) on shares of Netflix in a research note on Monday, September 14th. Robert W. Baird set a $90.00 price objective on shares of Netflix and gave the company an “outperform” rating in a report on Wednesday, July 22nd. Finally, Moffett Nathanson decreased their price objective on shares of Netflix from $115.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.41.

Netflix Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that operates a subscription-based streaming service. It offers a broad range of television series, films, documentaries, and other programming, including original productions developed under the Netflix brand and licensed content from third-party studios.

The company also provides advertising-supported viewing options in some markets and has expanded into related entertainment categories, including mobile and cloud-based games, live programming, and consumer products associated with selected titles.