SummitTX Capital L.P. Reduces Stock Position in Netflix, Inc. $NFLX

SummitTX Capital L.P. lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 82.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,224 shares of the Internet television network’s stock after selling 19,980 shares during the period. SummitTX Capital L.P.’s holdings in Netflix were worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NFLX. Turning Point Benefit Group Inc. increased its holdings 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 valued at $25,000 after purchasing an additional 268 shares during the period. Imprint Wealth LLC purchased a new stake in Netflix in the 3rd quarter worth approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in Netflix in the 4th quarter worth approximately $26,000. Atlas Capital Advisors Inc. bought a new stake in shares of Netflix in the 4th quarter worth approximately $26,000. Finally, Jessup Wealth Management Inc bought a new stake in shares of Netflix in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NFLX shares. Deutsche Bank Aktiengesellschaft set a $110.00 target price on Netflix in a research note on Monday, July 20th. CLSA initiated coverage on shares of Netflix in a report on Monday, July 20th. They issued an “outperform” rating on the stock. HSBC lifted their price target on shares of Netflix from $106.00 to $114.00 and gave the company a “buy” rating in a report on Friday, April 10th. TD Cowen decreased their price objective on shares of Netflix from $112.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. decreased their price objective 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. 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.48.

Netflix Trading Down 2.0%

NFLX opened at $71.71 on Friday. The stock has a market cap of $298.60 billion, a PE ratio of 22.57, a PEG ratio of 0.92 and a beta of 1.52. 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 business has a 50 day moving average of $76.66 and a 200-day moving average of $85.41. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $126.71.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share 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 analyst estimates of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Equities research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 9,253 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were 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 in the company, valued at approximately $6,563,353.65. The trade was a 11.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bradford L. Smith sold 35,990 shares of the company’s stock in a transaction dated 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 completion of the sale, the director directly owned 79,690 shares in the company, valued at $6,177,568.80. This represents a 31.11% 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. In the last three months, insiders have sold 492,289 shares of company stock valued at $42,186,530. Company insiders own 1.24% of the company’s stock.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix agreed to a five-year, approximately $500 million licensing deal covering all 371 episodes of The Walking Dead universe in international markets. The agreement strengthens Netflix’s global content lineup and adds a recognizable franchise beginning in 2027. Los Angeles Times article
• Positive Sentiment: Walmart-owned Flipkart is offering qualifying loyalty members a monthly Netflix mobile subscription after four orders in a month. The partnership could support customer acquisition and engagement in India, although the direct financial impact appears limited. Reuters article

Netflix 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.