88,372 Netflix, Inc. $NFLX Shares Acquired by Kimelman & Baird LLC

Kimelman & Baird LLC grew its holdings in Netflix, Inc. (NASDAQ:NFLX) by 110.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,195 shares of the Internet television network’s stock after buying an additional 88,372 shares during the quarter. Kimelman & Baird LLC’s holdings in Netflix were worth $11,703,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. American State Bank Iowa raised its position in Netflix by 7.7% in the third quarter. American State Bank Iowa now owns 16,721 shares of the Internet television network’s stock worth $1,163,000 after acquiring an additional 1,202 shares in the last quarter. J. Derek Lewis & Associates Inc. lifted its holdings in Netflix by 9.6% in the third quarter. J. Derek Lewis & Associates Inc. now owns 7,725 shares of the Internet television network’s stock valued at $541,000 after acquiring an additional 675 shares during the period. Ethic Inc. lifted its holdings in Netflix by 2.7% in the third quarter. Ethic Inc. now owns 546,393 shares of the Internet television network’s stock valued at $38,018,000 after acquiring an additional 14,458 shares during the period. 180 Wealth Advisors LLC lifted its holdings in Netflix by 2.9% in the third quarter. 180 Wealth Advisors LLC now owns 23,779 shares of the Internet television network’s stock valued at $1,655,000 after acquiring an additional 674 shares during the period. Finally, Kornitzer Capital Management Inc. KS boosted its position in shares of Netflix by 8.6% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 72,000 shares of the Internet television network’s stock worth $5,010,000 after purchasing an additional 5,720 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider David Hyman sold 5,727 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $64.55, for a total transaction of $369,677.85. Following the completion of the transaction, the insider directly owned 166,100 shares of the company’s stock, valued at $10,721,755. This trade represents a 3.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard Barton sold 720 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $75.27, for a total transaction of $54,194.40. Following the transaction, the director directly owned 2,460 shares of the company’s stock, valued at approximately $185,164.20. This trade represents a 22.64% 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. Over the last ninety days, insiders sold 70,960 shares of company stock valued at $4,752,050. Corporate insiders own 1.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NFLX shares. Citigroup reaffirmed a “buy” rating and set a $85.00 price target (down from $100.00) on shares of Netflix in a research note on Wednesday, October 21st. Evercore reiterated an “outperform” rating and issued a $90.00 price target on shares of Netflix in a report on Wednesday, October 21st. The Goldman Sachs Group set a $84.00 price objective on shares of Netflix in a research note on Wednesday, October 21st. Citizens Jmp reissued a “market perform” rating on shares of Netflix in a report on Wednesday, October 21st. Finally, Robert W. Baird set a $90.00 target price on shares of Netflix and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.14.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix ordered Other Worlds: A Stranger Things Adventure, a live-action prequel series. Extending a popular franchise could support viewer engagement, though the financial impact and timing are not yet clear. Article: Stranger Things prequel series
• Positive Sentiment: A valuation analysis argues NFLX could be undervalued, estimating about 23% upside to fair value. This offers a counterpoint to recent weakness, but is an analyst view rather than a company announcement. Article: Netflix stock fair-value analysis
• Neutral Sentiment: CEO Ted Sarandos and CFO Spencer Neumann disclosed share sales, but the transactions were made to cover tax withholding on vested equity awards. That stated purpose makes them a less clear signal about management’s view of the stock. Article: Netflix insider share sales
• Negative Sentiment: Coverage noted NFLX slipping even with the new Stranger Things plans, suggesting the content announcement has not eased near-term selling pressure. The shares are also near their 52-week low and far below their 52-week high, reflecting a weak recent trend. Article: Netflix stock slips despite new Stranger Things plans

Netflix Price Performance

Netflix stock opened at $63.41 on Friday. The firm has a market capitalization of $260.38 billion, a PE ratio of 18.33, a P/E/G ratio of 0.93 and a beta of 1.62. Netflix, Inc. has a 52 week low of $61.39 and a 52 week high of $116.73. The firm’s 50-day simple moving average is $71.03 and its 200 day simple moving average is $80.97. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.43.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.05. The firm had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.87 billion. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. On average, equities research analysts predict that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

About Netflix

Netflix, Inc is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand.

Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.