Netflix, Inc. $NFLX Stock: New England Research & Management Inc. Reduces Holdings

New England Research & Management Inc. reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 70.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,819 shares of the Internet television network’s stock after selling 34,755 shares during the period. New England Research & Management Inc.’s holdings in Netflix were worth $1,031,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Merkkuri Wealth Advisors LLC purchased a new position in shares of Netflix in the 1st quarter worth about $31,000. Bayban lifted its stake in shares of Netflix by 400.0% in the 1st quarter. Bayban now owns 350 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 280 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Netflix during the 2nd quarter worth about $26,000. Bank of New Hampshire grew its holdings in shares of Netflix by 900.0% during the 4th quarter. Bank of New Hampshire now owns 380 shares of the Internet television network’s stock worth $36,000 after purchasing an additional 342 shares during the period. Finally, Compound Global Advisors LLC purchased a new stake in shares of Netflix during the 2nd quarter worth about $29,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Down 2.9%

Shares of NASDAQ NFLX traded down $2.08 on Friday, hitting $70.53. The company had a trading volume of 44,092,721 shares, compared to its average volume of 38,724,876. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $124.86. The business has a 50 day moving average of $75.17 and a two-hundred day moving average of $80.66. 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 has a market capitalization of $293.68 billion, a P/E ratio of 22.20, a PEG ratio of 1.02 and a beta of 1.62.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The business had revenue of $12.56 billion during 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 company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 earnings per share. As a group, equities research analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Jefferies upgraded Netflix (NFLX) to “strong buy,” citing potential support from pricing increases and advertising growth. Wedbush also maintained an “outperform” rating, although it lowered its price target to $90 from $105. Netflix stock gets bullish analyst call
• Positive Sentiment: Options activity is signaling expectations for a substantial post-earnings move, while sentiment remains bullish in some derivatives markets. Technical analysts also see a possible double-bottom pattern, with a break above $83.60 potentially opening a path toward $102.12. Barchart Netflix earnings outlook
• Neutral Sentiment: Netflix is replacing Chief Content Officer Bela Bajaria with former Disney and Fox executive Peter Rice. His experience across scripted programming, live sports, unscripted content and theatrical distribution could help Netflix develop new hits, but the abrupt change before earnings highlights pressure to improve engagement. Netflix appoints Peter Rice
• Negative Sentiment: Netflix announced plans to eliminate about 1,000 jobs, or 6% of its workforce, one day before the content-chief transition. Although the cuts may improve efficiency, investors viewed them as evidence of a sharper growth reset and concerns about the company’s content strategy. Netflix shares under pressure after content chief departure
• Negative Sentiment: Pre-earnings concerns include slowing viewership, rising churn, declining engagement and intensifying competition. Analysts also warn that Netflix’s premium valuation leaves little room for disappointing guidance, while options traders anticipate a move that could take the stock toward a two-year low. Netflix Q3 earnings outlook

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. China Intl Cap raised shares of Netflix to a “strong-buy” rating in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft raised shares of Netflix from a “hold” rating to a “buy” rating and reduced their price target for the company from $100.00 to $95.00 in a research report on Tuesday, September 29th. Piper Sandler reiterated an “overweight” rating and set a $85.00 price objective (down from $115.00) on shares of Netflix in a research note on Friday, July 17th. DZ Bank reissued a “buy” rating on shares of Netflix in a research report on Monday, July 20th. Finally, Wolfe Research reissued an “outperform” rating and issued a $95.00 price objective (up from $84.00) on shares of Netflix in a research report on Tuesday, August 25th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.82.

Insider Buying and Selling

In other news, CFO Spencer Neumann sold 9,248 shares of Netflix stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $75.79, for a total transaction of $700,905.92. Following the sale, the chief financial officer owned 73,787 shares in the company, valued at $5,592,316.73. This trade represents a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Barton sold 720 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $75.27, for a total transaction of $54,194.40. Following the completion of the transaction, the director owned 2,460 shares of the company’s stock, valued at $185,164.20. This trade represents a 22.64% 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. Insiders have sold 179,045 shares of company stock valued at $13,132,194 over the last three months. Company insiders own 1.24% of the company’s stock.

Netflix Company Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that operates a subscription-based streaming service. It offers a broad range of television series, films, documentaries, and other programming, including original productions developed under the Netflix brand and licensed content from third-party studios.

The company also provides advertising-supported viewing options in some markets and has expanded into related entertainment categories, including mobile and cloud-based games, live programming, and consumer products associated with selected titles.