217,673 Shares in Netflix, Inc. $NFLX Acquired by Sycale Advisors NY LLC

Sycale Advisors NY LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, HoldingsChannel reports. The firm bought 217,673 shares of the Internet television network’s stock, valued at approximately $15,542,000. Netflix accounts for about 4.8% of Sycale Advisors NY LLC’s holdings, making the stock its 4th largest position.

A number of other large investors have also recently added to or reduced their stakes in the business. Imprint Wealth LLC acquired a new stake in shares of Netflix during the 3rd quarter valued at $25,000. Wealth Watch Advisors INC bought a new stake in shares of Netflix during the 3rd quarter worth $103,000. Strategic Wealth Investment Group LLC acquired a new position in shares of Netflix in the 2nd quarter worth $121,000. Wiser Advisor Group LLC acquired a new position in shares of Netflix in the 3rd quarter worth $114,000. Finally, Beaird Harris Wealth Management LLC raised its position in shares of Netflix by 9.6% during the third quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock worth $137,000 after purchasing an additional 10 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays reduced their target price on Netflix from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, July 17th. Piper Sandler restated an “overweight” rating and set a $85.00 price objective (down from $115.00) on shares of Netflix in a report on Friday, July 17th. Phillip Securities raised shares of Netflix from a “moderate buy” rating to a “strong-buy” rating in a research note on Sunday, July 19th. Moffett Nathanson decreased their target price on shares of Netflix from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft set a $110.00 target price on shares of Netflix in a research report on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $103.48.

Insider Activity

In other Netflix news, Director Bradford L. Smith sold 35,990 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $77.52, for a total value of $2,789,944.80. Following the transaction, the director owned 79,690 shares in the company, valued at approximately $6,177,568.80. This represents a 31.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Reed Hastings sold 386,700 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $85.97, for a total transaction of $33,244,599.00. Following the completion of the sale, the director owned 3,940 shares of the company’s stock, valued at approximately $338,721.80. The trade was a 98.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 600,295 shares of company stock valued at $49,056,671 in the last three months. 1.24% of the stock is currently owned by insiders.

Netflix Trading Down 0.1%

Shares of NASDAQ NFLX opened at $80.14 on Friday. 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 one year low of $65.08 and a one year high of $126.71. The business has a 50-day moving average price of $74.40 and a two-hundred day moving average price of $84.37. The firm has a market capitalization of $333.70 billion, a PE ratio of 25.23, a PEG ratio of 1.01 and a beta of 1.52.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 40.02% and a net margin of 28.22%.The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman’s Pershing Square rebuilt a major position. The investment firm’s purchase, despite previously taking a reported $400 million loss on Netflix, signals confidence in the company’s long-term growth, competitive position and leadership. The disclosure helped support a recent increase in NFLX shares. Netflix Moved, What Is Drawing Attention Now?
• Positive Sentiment: Analysts see advertising as a significant growth opportunity. Netflix is expanding its ad-supported business through live programming, new ad technology and additional tools for marketers. The company is targeting substantial future advertising revenue, which could diversify its sales base and support continued revenue expansion. NFLX’s Ad Business Focus
• Positive Sentiment: Valuation has become more attractive after the selloff. Netflix trades at roughly 21 times forward earnings in the cited analysis, a level viewed as more reasonable than during prior periods of comparable declines. A CNBC contributor also recommended Netflix, reinforcing the bullish case among some investors. Netflix Trades at 21 Times Forward Earnings
• Neutral Sentiment: Co-founder Reed Hastings discussed Netflix’s performance-focused culture. Hastings said companies should operate as teams rather than families, making workforce reductions easier when employees do not meet expectations. The comments revisit Netflix’s 2001 layoffs but do not represent a new operating announcement. Reed Hastings Says Companies Aren’t Families
• Negative Sentiment: YouTube is reportedly trying to prevent creators from signing with Netflix. YouTube is offering creators millions of dollars and warning that simultaneous Netflix deals could jeopardize marketing support and brand-campaign revenue. This could raise Netflix’s content-acquisition costs and make it harder to secure popular creator-led programming. YouTube Offers Creators Millions to Avoid Netflix Deals
• Negative Sentiment: Netflix faces a lawsuit from the band Demon Hunter. The group alleges that Netflix’s KPop Demon Hunters infringes its rights. The case creates legal and reputational risk, although the financial impact is currently unclear. Netflix Sued by Band Demon Hunter

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.