Manhattan West Asset Management LLC Buys Shares of 54,304 Netflix, Inc. $NFLX

Manhattan West Asset Management LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 54,304 shares of the Internet television network’s stock, valued at approximately $3,877,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Netflix by 912.5% during the fourth quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock worth $36,567,805,000 after acquiring an additional 351,493,659 shares during the period. BlackRock Inc. purchased a new stake in Netflix during the 2nd quarter worth about $24,902,221,000. State Street Corp raised its position in Netflix by 927.6% in the 4th quarter. State Street Corp now owns 176,780,995 shares of the Internet television network’s stock valued at $16,574,986,000 after purchasing an additional 159,578,053 shares in the last quarter. Geode Capital Management LLC raised its position in Netflix by 892.0% in the 4th quarter. Geode Capital Management LLC now owns 99,598,678 shares of the Internet television network’s stock valued at $9,305,336,000 after purchasing an additional 89,558,684 shares in the last quarter. Finally, Capital World Investors boosted its stake in shares of Netflix by 859.1% in the 4th quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock valued at $8,376,656,000 after buying an additional 80,025,890 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 5,723 shares of the company’s stock in a transaction 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. This represents a 1.78% decrease in their position. The sale was disclosed in a 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 Theodore A. Sarandos sold 27,312 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $73.35, for a total transaction of $2,003,335.20. Following the completion of the transaction, the chief executive officer directly owned 178,954 shares in the company, valued at $13,126,275.90. This trade represents a 13.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 600,295 shares of company stock worth $49,056,671. 1.24% of the stock is owned by insiders.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $79.59 on Friday. The stock’s 50-day simple moving average is $74.39 and its 200-day simple moving average is $84.34. The firm has a market capitalization of $331.41 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 1.01 and a beta of 1.52. Netflix, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $126.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14.

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 analysts’ consensus estimates 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 return on equity of 40.02% and a net margin of 28.22%.The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 earnings per share. As a group, equities research analysts forecast that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of analyst reports. TD Cowen lowered their price objective on Netflix from $112.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Seaport Research Partners downgraded shares of Netflix from a “buy” rating to a “neutral” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. lowered their price target on shares of Netflix from $118.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Citic Securities raised their price objective on shares of Netflix from $95.00 to $107.00 and gave the company a “hold” rating in a report on Monday, April 27th. Finally, CLSA started coverage on shares of Netflix in a research report on Monday, July 20th. They set an “outperform” rating for the company. Four analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $103.48.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix continues to grow faster than many streaming rivals, and its lower valuation after the selloff could provide significant upside if revenue, advertising and engagement trends remain strong. A valuation model described the current setup as potentially asymmetric in investors’ favor. Netflix Is Down 40% From Its All-Time High Could Netflix Stock Double From Here?
• Positive Sentiment: JPMorgan analyst Doug Anmuth maintained an Overweight rating and an $85 price target, citing Netflix’s content pipeline and multiple initiatives to support engagement and revenue growth. The view suggests potential upside from current levels, although the analyst sees no single catalyst guaranteeing acceleration. Netflix Has No Single Silver Bullet
• Positive Sentiment: Netflix’s advertising-supported tier and broad content offering could make the company relatively resilient during a recession, as consumers may retain lower-cost entertainment subscriptions even amid economic pressure. Which Streaming Stock Would Hold Up Better in a Recession?
• Neutral Sentiment: Representatives for Meghan of Sussex reportedly held exploratory discussions about a possible role in a third season of The Gentlemen. Netflix has not ordered the season, so the potential casting has no immediate financial impact. Meghan of Sussex Eyes Role in Netflix Show The Gentlemen
• Negative Sentiment: With Netflix no longer emphasizing subscriber numbers, investors must rely more heavily on revenue growth, advertising performance, engagement and profitability metrics. That makes it harder to assess momentum and contributes to debate over whether the stock’s decline reflects a bargain or slowing growth. Netflix Is Down 40% From Its All-Time High
• Negative Sentiment: YouTube is reportedly offering creators substantial payments and warning that simultaneous Netflix deals could jeopardize marketing support and brand-campaign revenue. This could intensify competition for exclusive content and creator attention. YouTube Offers Creators Millions to Avoid Netflix Deals

Netflix Company Profile

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.