Netflix, Inc. $NFLX Stock Bought by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC increased its position in Netflix, Inc. (NASDAQ:NFLX) by 17.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,958 shares of the Internet television network’s stock after purchasing an additional 8,564 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Netflix were worth $4,102,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NFLX. BlackRock Inc. bought a new stake in shares of Netflix during the 2nd quarter valued at $24,902,221,000. Invesco Ltd. increased its stake in shares of Netflix by 835.9% in the 4th quarter. Invesco Ltd. now owns 43,462,696 shares of the Internet television network’s stock worth $4,075,062,000 after acquiring an additional 38,818,947 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Netflix in the 2nd quarter worth about $1,906,482,000. Legal & General Group Plc bought a new position in shares of Netflix in the 2nd quarter worth about $1,886,526,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Netflix in the 2nd quarter worth about $1,481,303,000. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NFLX shares. HSBC lowered shares of Netflix from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $96.00 to $76.00 in a research note on Tuesday, September 22nd. KGI Securities downgraded shares of Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 target price for the company. in a research note on Friday, July 17th. Citigroup reaffirmed a “market perform” rating on shares of Netflix in a research note on Thursday. Wedbush lowered their target price on shares of Netflix from $105.00 to $90.00 and set an “outperform” rating for the company in a report on Friday. Finally, Evercore reissued an “outperform” rating and issued a $110.00 price target (up from $100.00) on shares of Netflix in a research report on Monday, September 14th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.82.

Netflix Stock Performance

Shares of Netflix stock opened at $70.53 on Friday. The stock has a market cap of $293.68 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 1.02 and a beta of 1.62. The firm’s 50-day moving average is $75.17 and its 200 day moving average is $80.66. Netflix, Inc. has a 1 year low of $65.08 and a 1 year high of $124.86. 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 (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating the consensus estimate of $0.79 by $0.01. The company had revenue of $12.56 billion for 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%. Netflix’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard N. Barton sold 2,160 shares of the firm’s stock in a transaction that occurred on 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 owned 246 shares of the company’s stock, valued at $18,474.60. This trade represents a 89.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory K. Peters sold 27,312 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $73.54, for a total transaction of $2,008,524.48. Following the sale, the chief executive officer directly owned 120,931 shares of the company’s stock, valued at $8,893,265.74. This trade represents a 18.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 179,045 shares of company stock valued at $13,132,194. 1.24% of the stock is owned by company insiders.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Jefferies upgraded Netflix (NFLX) to “strong buy,” citing potential support from pricing increases and advertising growth. Wedbush also maintained an “outperform” rating, although it lowered its price target to $90 from $105. Netflix stock gets bullish analyst call
• Positive Sentiment: Options activity is signaling expectations for a substantial post-earnings move, while sentiment remains bullish in some derivatives markets. Technical analysts also see a possible double-bottom pattern, with a break above $83.60 potentially opening a path toward $102.12. Barchart Netflix earnings outlook
• Neutral Sentiment: Netflix is replacing Chief Content Officer Bela Bajaria with former Disney and Fox executive Peter Rice. His experience across scripted programming, live sports, unscripted content and theatrical distribution could help Netflix develop new hits, but the abrupt change before earnings highlights pressure to improve engagement. Netflix appoints Peter Rice
• Negative Sentiment: Netflix announced plans to eliminate about 1,000 jobs, or 6% of its workforce, one day before the content-chief transition. Although the cuts may improve efficiency, investors viewed them as evidence of a sharper growth reset and concerns about the company’s content strategy. Netflix shares under pressure after content chief departure
• Negative Sentiment: Pre-earnings concerns include slowing viewership, rising churn, declining engagement and intensifying competition. Analysts also warn that Netflix’s premium valuation leaves little room for disappointing guidance, while options traders anticipate a move that could take the stock toward a two-year low. Netflix Q3 earnings outlook

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.