Netflix, Inc. $NFLX Stock: Cassia Capital Partners LLC Decreases Stake

Cassia Capital Partners LLC lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 70.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,546 shares of the Internet television network’s stock after selling 10,924 shares during the quarter. Cassia Capital Partners LLC’s holdings in Netflix were worth $316,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Netflix in the second quarter worth $26,000. Pathway Financial Advisers LLC bought a new position in Netflix in the third quarter valued at $26,000. Sawyer & Company Inc acquired a new stake in Netflix in the 3rd quarter valued at $27,000. Compound Global Advisors LLC acquired a new stake in Netflix in the 2nd quarter valued at $29,000. Finally, Burnham & Co LLC acquired a new stake in Netflix in the 2nd quarter valued at $29,000. Institutional investors own 80.93% of the company’s stock.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix’s EMEA revenue grew 11% year over year in the third quarter. Management says sustaining that growth in Europe will depend partly on preserving creative freedom amid regulation. Article: Netflix boss says creativity and regulation are not happy bedfellows in Europe
• Neutral Sentiment: Netflix launched an international campaign using 35mm film, supported by a social series about creatives’ viewing tastes. The campaign may support brand engagement, but its financial impact is unclear. Article: Netflix embraces 35mm film in international campaign
• Neutral Sentiment: A report described November short interest as totaling zero shares, with a 0.0-day days-to-cover ratio. That figure does not indicate meaningful short positioning, despite the report’s claim of a large increase.
• Negative Sentiment: Investor confidence remains a concern: coverage cites slowing Netflix growth and evidence that viewers are watching less. A content leadership shake-up is among management’s steps to address the challenge, but the concerns weigh on the growth outlook. Article: Why Netflix Stock Plunged 11% in October
• Negative Sentiment: Netflix also declined amid weakness across entertainment stocks. Coverage linked the sector’s reaction to concerns about the film outlook and debt at the newly combined Warner Bros.–Paramount, though it characterized Netflix and Disney as relatively less affected. Article: Skydance Sinks as Warner Bros. Film Slump Overshadows Earnings Beat

Netflix Stock Down 1.1%

Netflix stock opened at $63.26 on Wednesday. The firm has a market capitalization of $259.77 billion, a PE ratio of 21.83, a P/E/G ratio of 0.94 and a beta of 1.62. The company’s 50-day moving average is $70.32 and its 200-day moving average is $80.76. Netflix, Inc. has a fifty-two week low of $61.39 and a fifty-two week high of $116.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.07 and a quick ratio of 1.07.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The company had revenue of $12.87 billion for the quarter, compared to analysts’ expectations of $12.87 billion. During the same period in the prior year, the firm earned $0.59 EPS. Netflix’s quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Netflix, Inc. will post 3.59 earnings per share for the current year.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of recent research reports. Robert W. Baird set a $90.00 price objective on shares of Netflix and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Pivotal Research restated a “hold” rating and issued a $65.00 price objective (down from $70.00) on shares of Netflix in a report on Wednesday, October 21st. Loop Capital lowered their target price on Netflix from $115.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Bank of America lowered their target price on Netflix from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, October 21st. Finally, Evercore reiterated an “outperform” rating and set a $90.00 target price on shares of Netflix in a report on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.14.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory Peters sold 27,312 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $63.62, for a total transaction of $1,737,589.44. Following the transaction, the chief executive officer owned 119,412 shares of the company’s stock, valued at $7,596,991.44. The trade was a 18.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Theodore Sarandos sold 27,312 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $66.20, for a total value of $1,808,054.40. Following the completion of the sale, the chief executive officer owned 178,954 shares in the company, valued at approximately $11,846,754.80. This trade represents a 13.24% decrease in their position. 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. Insiders have sold a total of 89,024 shares of company stock valued at $5,788,733 in the last three months. Corporate insiders own 1.24% of the company’s stock.

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.