Magellan Asset Management Ltd Sells 136,000 Shares of Netflix, Inc. $NFLX

Magellan Asset Management Ltd cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,500,208 shares of the Internet television network’s stock after selling 136,000 shares during the quarter. Netflix accounts for approximately 1.9% of Magellan Asset Management Ltd’s holdings, making the stock its 25th biggest holding. Magellan Asset Management Ltd’s holdings in Netflix were worth $144,245,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. First Financial Corp IN raised its stake in shares of Netflix by 900.0% in the 4th quarter. First Financial Corp IN now owns 270 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 243 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in Netflix by 885.2% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 266 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 239 shares during the period. Turning Point Benefit Group Inc. lifted its position in Netflix by 13,400.0% during the 4th quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 268 shares during the last quarter. Imprint Wealth LLC bought a new stake in Netflix during the third quarter valued at about $25,000. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of Netflix in the fourth quarter valued at about $26,000. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on NFLX. Bank of America reissued a “buy” rating and set a $125.00 price objective on shares of Netflix in a research report on Monday, May 18th. Citizens Jmp reaffirmed a “market perform” rating on shares of Netflix in a report on Wednesday, April 15th. Guggenheim set a $75.00 price target on Netflix and gave the stock a “buy” rating in a research report on Friday. Erste Group Bank lowered Netflix from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, CLSA began coverage on Netflix in a research report on Monday. They issued an “outperform” rating for the company. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.21.

Netflix Stock Up 1.6%

NASDAQ NFLX opened at $68.67 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.41 and a current ratio of 1.14. The firm has a 50-day simple moving average of $79.42 and a 200 day simple moving average of $86.49. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $126.71. The stock has a market cap of $285.94 billion, a PE ratio of 21.61, a PEG ratio of 0.85 and a beta of 1.52.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, topping 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 the consensus estimate of $12.58 billion. During the same period last year, the business earned $0.72 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, research analysts forecast that Netflix, Inc. will post 3.6 EPS for the current year.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix delivered an earnings beat and continues to post double-digit revenue growth, while bulls argue the selloff has made the stock look inexpensive on earnings and cash flow. Netflix “Is Not a Broken Company” and Trades At Just 19x Earnings. Jim Cramer Says Start Buying
• Positive Sentiment: Several analysts and commentators say the post-earnings drop may have created a buying opportunity, citing Netflix’s ad business, live content ambitions, international growth, and strong free-cash-flow potential. Netflix (NFLX) Stock Still Looks Cheap On Cash Flow And Earnings
• Positive Sentiment: Phillip Securities upgraded Netflix from “moderate buy” to “strong-buy,” with one analyst saying engagement shows no signs of slowing and setting a higher price target than the current trading level. Netflix, Inc. (NFLX) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Wall Street coverage remains active and largely mixed-to-bullish, with some reports pointing to meaningful upside in consensus price targets even after the recent slide. Netflix Fell 45% Over 12 Months But This Ratings House Sees A Doubling Share Price
• Negative Sentiment: Investors are worried about softer revenue guidance, slowing growth momentum, and Netflix making viewership metrics harder to track, which raises questions about transparency and future monetization. Netflix (NFLX) Could Be 18% Undervalued After Soft Guidance Raised Fresh Growth Questions
• Negative Sentiment: Multiple articles described the stock’s recent action as a sharp post-earnings crash or “miserable stretch,” reflecting concern that the latest quarter did not convince investors that growth will reaccelerate soon. Netflix just made its slowdown harder to measure

Insider Buying and Selling

In other news, CFO Spencer Adam Neumann sold 9,253 shares of Netflix stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $88.95, for a total transaction of $823,054.35. Following the sale, the chief financial officer owned 73,787 shares of the company’s stock, valued at approximately $6,563,353.65. This trade represents a 11.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Hyman sold 5,722 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $88.08, for a total value of $503,993.76. Following the sale, the insider owned 316,100 shares in the company, valued at approximately $27,842,088. This represents a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 899,839 shares of company stock worth $80,141,661. 1.24% of the stock is currently owned by corporate insiders.

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.