Envestnet Portfolio Solutions Inc. Has $24.31 Million Position in Netflix, Inc. $NFLX

Envestnet Portfolio Solutions Inc. lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 7.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 340,601 shares of the Internet television network’s stock after acquiring an additional 24,446 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Netflix were worth $24,312,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in NFLX. Envestnet Asset Management Inc. lifted its position in Netflix by 0.6% in the second quarter. Envestnet Asset Management Inc. now owns 5,449,012 shares of the Internet television network’s stock worth $389,057,000 after purchasing an additional 33,933 shares during the period. State Street Corp increased its holdings in Netflix by 4.9% in the 2nd quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock valued at $12,861,252,000 after buying an additional 8,474,820 shares during the period. Altar Rock LLC raised its stake in shares of Netflix by 10.6% in the 2nd quarter. Altar Rock LLC now owns 4,343 shares of the Internet television network’s stock valued at $310,000 after buying an additional 415 shares in the last quarter. Security National Bank of SO Dak raised its stake in shares of Netflix by 462.0% in the 2nd quarter. Security National Bank of SO Dak now owns 14,725 shares of the Internet television network’s stock valued at $1,051,000 after buying an additional 12,105 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA bought a new position in shares of Netflix during the 2nd quarter worth about $1,195,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Netflix

In other news, insider David Hyman sold 5,723 shares of Netflix stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $72.85, for a total value of $416,920.55. Following the completion of the transaction, the insider 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory Peters sold 27,312 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $73.54, for a total value of $2,008,524.48. Following the completion of the transaction, the chief executive officer directly owned 120,931 shares in the company, valued at $8,893,265.74. The trade was a 18.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 179,045 shares of company stock valued at $13,132,194. Insiders own 1.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on NFLX shares. Rothschild & Co Redburn decreased their target price on shares of Netflix from $120.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. JPMorgan Chase & Co. reissued a “buy” rating on shares of Netflix in a research report on Thursday, August 20th. China Intl Cap upgraded shares of Netflix to a “strong-buy” rating in a research note on Tuesday, July 21st. President Capital decreased their price objective on Netflix from $134.00 to $83.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Netflix in a research note on Tuesday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.51.

Netflix Price Performance

Shares of NFLX traded down $0.80 during trading hours on Wednesday, hitting $71.36. The stock had a trading volume of 32,742,656 shares, compared to its average volume of 42,920,652. The company’s fifty day moving average is $75.78 and its two-hundred day moving average is $83.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $124.86. The stock has a market capitalization of $297.14 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 1.03 and a beta of 1.53.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. The firm had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. On average, analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current year.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Some analysts believe substantial negative sentiment is already reflected in Netflix’s valuation. Supporters point to the company’s strong profitability, continued earnings growth potential and a price-to-earnings ratio near 22, arguing that the pullback could create a longer-term buying opportunity. Netflix Stock Valuations Seem Attractive Amidst Growth Deceleration Concerns
• Positive Sentiment: Netflix’s efforts to expand into live sports, advertising, video podcasts and short-form content could provide new engagement and monetization opportunities. Disney’s higher Disney+ and Hulu prices may also reduce the pricing gap with Netflix’s premium plans, potentially supporting Netflix’s perceived value. Disney Raises Disney+ and Hulu Streaming Prices
• Neutral Sentiment: Wall Street’s outlook is divided. While some investors continue to view Netflix as a high-quality growth company with meaningful earnings potential through 2030, other analysts have sharply reduced their targets, creating unusually wide differences in expectations for the stock.
• Negative Sentiment: HSBC downgraded Netflix to Hold from Buy and cut its price target to $76 from $96, citing a widening viewing-time gap with Alphabet’s YouTube and weaker near-term engagement. The concern is that YouTube is capturing more viewer hours, potentially limiting Netflix’s pricing power, advertising growth and ability to sustain subscriber momentum. This Analyst Just Downgraded Netflix Stock, And YouTube May Be to Blame
• Negative Sentiment: Recent Wells Fargo and Zacks commentary adds to the pressure: Wells Fargo previously cut Netflix to Underweight with a $57 target, while Zacks rates the shares a No. 4, or Sell. Together, the calls have intensified concerns that Netflix’s engagement initiatives may take time to offset rising competition.

Netflix Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming access to television series, films, documentaries and other video content. Its service includes Netflix-produced and licensed programming, with offerings that may vary by market. The company also provides an advertising-supported plan in selected countries and has expanded into mobile games and other interactive entertainment.

Netflix was founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental service in the United States.