NewEdge Advisors LLC Acquires 7,961 Shares of Netflix, Inc. $NFLX

NewEdge Advisors LLC increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 558,723 shares of the Internet television network’s stock after purchasing an additional 7,961 shares during the quarter. NewEdge Advisors LLC’s holdings in Netflix were worth $53,722,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Netflix by 912.5% in the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock valued at $36,567,805,000 after acquiring an additional 351,493,659 shares during the last quarter. State Street Corp grew its position in Netflix by 927.6% during the 4th quarter. State Street Corp now owns 176,780,995 shares of the Internet television network’s stock worth $16,574,986,000 after acquiring an additional 159,578,053 shares during the last quarter. Geode Capital Management LLC grew its position in Netflix by 892.0% during the 4th quarter. Geode Capital Management LLC now owns 99,598,678 shares of the Internet television network’s stock worth $9,305,336,000 after acquiring an additional 89,558,684 shares during the last quarter. Capital World Investors grew its position in Netflix by 859.1% during the 4th quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock worth $8,376,656,000 after acquiring an additional 80,025,890 shares during the last quarter. Finally, Morgan Stanley increased its stake in Netflix by 903.0% in the 4th quarter. Morgan Stanley now owns 85,349,973 shares of the Internet television network’s stock worth $8,002,414,000 after purchasing an additional 76,840,318 shares during the period. 80.93% of the stock is owned by institutional investors.

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix is reportedly considering launching always-on, linear-style streaming channels. The move could increase viewing time, improve content monetization and appeal to viewers seeking a traditional television experience. Netflix Killed Cable TV. Now the Streaming Giant Wants to Bring It Back
• Positive Sentiment: An extended Grand Theft Auto VI gameplay trailer is scheduled to debut on Netflix on August 27. The partnership could generate attention and engagement, although it is unlikely to materially change Netflix’s near-term financial outlook. Take-Two Stock Slips Despite News of a GTA VI Trailer Coming to Netflix
• Neutral Sentiment: Director Richard Barton’s sale of 2,160 shares was executed under a pre-arranged Rule 10b5-1 plan, making it a relatively limited signal about management’s current view of NFLX. The director retained 246 shares afterward. Netflix’s Latest Insider Sale Looks Bigger Than It Is
• Neutral Sentiment: Insider David Hyman previously sold shares to cover tax withholding tied to vested equity awards, another transaction with limited fundamental significance. Netflix’s latest quarter showed earnings slightly above expectations and 13.4% year-over-year revenue growth, but sales narrowly missed consensus.
• Negative Sentiment: CEO Gregory Peters sold 27,312 shares worth approximately $2.0 million. Although the filing did not identify a 10b5-1 plan, he continues to own more than 120,000 shares; nevertheless, the sale adds to investor concern after multiple insider transactions. Netflix Insider Plans Stock Sale as NFLX Shares Slip
• Negative Sentiment: Netflix has reportedly underperformed the S&P 500 by a wide margin over the past year. Concerns about weaker engagement, reduced viewing-data disclosure and intensifying streaming competition are weighing on sentiment and valuation. Netflix and MercadoLibre Are Underperforming the S&P 500

Analysts Set New Price Targets

NFLX has been the subject of several recent research reports. Erste Group Bank downgraded Netflix from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. TD Cowen cut their target price on shares of Netflix from $112.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 17th. JPMorgan Chase & Co. decreased their target price on shares of Netflix from $118.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. KGI Securities lowered shares of Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 price target for the company. in a report on Friday, July 17th. Finally, Morgan Stanley reissued an “overweight” rating and set a $90.00 price target (down from $115.00) on shares of Netflix in a research report on Tuesday, July 14th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $103.48.

Netflix Stock Performance

NASDAQ:NFLX opened at $73.69 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm’s fifty day simple moving average is $75.56 and its 200 day simple moving average is $84.95. The stock has a market cap of $306.84 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $126.71.

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

Insider Activity

In related news, Director Bradford L. Smith sold 35,990 shares of Netflix stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total transaction of $2,789,944.80. Following the sale, the director directly owned 79,690 shares in the company, valued at $6,177,568.80. The trade was a 31.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Reed Hastings sold 386,700 shares of Netflix stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $85.97, for a total value of $33,244,599.00. Following the sale, the director owned 3,940 shares in the company, valued at $338,721.80. This represents a 98.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 591,047 shares of company stock worth $48,355,766. Company insiders own 1.24% of the company’s stock.

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.