Great Lakes Advisors LLC Invests $8.91 Million in Netflix, Inc. $NFLX

Great Lakes Advisors LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 124,808 shares of the Internet television network’s stock, valued at approximately $8,911,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Imprint Wealth LLC acquired a new position in Netflix in the third quarter valued at approximately $25,000. Wealth Watch Advisors INC acquired a new stake in Netflix during the third quarter worth $103,000. Strategic Wealth Investment Group LLC purchased a new stake in Netflix in the second quarter valued at $121,000. Wiser Advisor Group LLC purchased a new stake in Netflix in the third quarter valued at $114,000. Finally, Beaird Harris Wealth Management LLC lifted its stake in shares of Netflix by 9.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock valued at $137,000 after purchasing an additional 10 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Up 3.2%

Netflix stock opened at $80.22 on Thursday. The firm has a market capitalization of $334.03 billion, a P/E ratio of 25.25, a P/E/G ratio of 0.98 and a beta of 1.52. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $126.71. The stock’s fifty day simple moving average is $74.43 and its 200-day simple moving average is $84.39.

Netflix (NASDAQ:NFLX) last released 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 return on equity of 40.02% and a net margin of 28.22%.Netflix’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. As a group, equities analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman returns: Pershing Square disclosed a roughly 4.9% portfolio position in Netflix, reversing its earlier exit at a reported loss of about $400 million. Ackman’s renewed conviction reflects expectations for double-digit revenue growth, margin expansion and continued streaming leadership. What’s Going On With Netflix Stock Wednesday?
• Positive Sentiment: Advertising remains a growth catalyst: Analysts highlighted Netflix’s rapidly scaling ad-supported business, including new advertising tools and live programming that could help generate billions in ad revenue and support longer-term revenue expansion. NFLX’s Ad Business Focus
• Positive Sentiment: Valuation attracts bargain hunters: With the stock down about 43% from its peak and trading near 21 times forward earnings, investors are comparing Netflix’s valuation with prior major pullbacks and arguing that the risk-reward profile has improved. Several commentators and CNBC’s Jason Snipe also endorsed the shares. Netflix Trades at 21 Times Forward Earnings
• Neutral Sentiment: Broader market rotation helped: Netflix participated in a shift away from semiconductor stocks and toward beaten-down software and technology shares. This suggests part of the move reflected sector positioning rather than a new company-specific operating announcement. Netflix, Salesforce, and Adobe Rally
• Negative Sentiment: Copyright lawsuit adds risk: The band Demon Hunter sued Netflix over the title and alleged intellectual-property issues involving KPop Demon Hunters. The legal action introduces potential costs and reputational risk, although its financial impact is currently unclear. Netflix sued by band Demon Hunter

Analysts Set New Price Targets

A number of analysts recently issued reports on NFLX shares. UBS Group cut their price objective on Netflix from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, July 17th. The Goldman Sachs Group lowered shares of Netflix from an “underweight” rating to a “sell” rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $110.00 price target on shares of Netflix in a research report on Monday, July 20th. Seaport Research Partners lowered shares of Netflix from a “buy” rating to a “neutral” rating in a report on Monday, July 20th. Finally, Bank of America reaffirmed a “buy” rating and set a $125.00 price objective on shares of Netflix in a research report on Monday, May 18th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.48.

Insider Activity

In related news, Director Richard N. Barton sold 2,160 shares of Netflix stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $75.10, for a total value of $162,216.00. Following the completion of the transaction, the director owned 246 shares in the company, valued at $18,474.60. The trade was 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 through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David A. Hyman sold 5,723 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total transaction of $416,920.55. Following the transaction, the insider owned 316,100 shares of the company’s stock, valued at $23,027,885. This trade represents a 1.78% 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. In the last three months, insiders sold 600,295 shares of company stock valued at $49,056,671. 1.24% of the stock is owned by corporate insiders.

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.