62,306 Netflix, Inc. $NFLX Shares Sold by Narwhal Capital Management

Narwhal Capital Management decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 93.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,269 shares of the Internet television network’s stock after selling 62,306 shares during the quarter. Narwhal Capital Management’s holdings in Netflix were worth $297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Netflix in the second quarter valued at about $26,000. Pathway Financial Advisers LLC bought a new stake in shares of Netflix during the 3rd quarter worth about $26,000. Sawyer & Company Inc bought a new stake in shares of Netflix during the 3rd quarter worth about $27,000. Compound Global Advisors LLC acquired a new position in Netflix in the 2nd quarter valued at about $29,000. Finally, Burnham & Co LLC acquired a new position in Netflix in the 2nd quarter valued at about $29,000. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

NFLX stock opened at $63.26 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.43. The firm has a market cap of $259.77 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 0.94 and a beta of 1.62. The company’s fifty day simple moving average is $70.32 and its 200 day simple moving average is $80.76. Netflix, Inc. has a 12-month low of $61.39 and a 12-month high of $116.73.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. Netflix had a return on equity of 42.69% and a net margin of 29.69%. The firm had revenue of $12.87 billion for the quarter, compared to analyst estimates of $12.87 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. On average, analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NFLX. Moffett Nathanson restated a “buy” rating and set a $90.00 price objective on shares of Netflix in a report on Wednesday, October 21st. KeyCorp decreased their target price on shares of Netflix from $92.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th. Morgan Stanley set a $77.00 price target on Netflix and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Needham & Company LLC downgraded Netflix from a “buy” rating to a “hold” rating in a research note on Wednesday, October 21st. Finally, DZ Bank reiterated a “buy” rating on shares of Netflix in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $89.14.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 27,312 shares of the company’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $63.62, for a total transaction of $1,737,589.44. Following the completion of the sale, the chief executive officer owned 119,412 shares in the company, valued at approximately $7,596,991.44. This represents a 18.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 27,312 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $66.20, for a total transaction of $1,808,054.40. Following the completion of the sale, the chief executive officer owned 178,954 shares of the company’s stock, valued at approximately $11,846,754.80. The trade was a 13.24% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 89,024 shares of company stock worth $5,788,733 in the last quarter. Insiders own 1.24% of the company’s stock.

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix’s EMEA revenue grew 11% year over year in the third quarter. Management says sustaining that growth in Europe will depend partly on preserving creative freedom amid regulation. Article: Netflix boss says creativity and regulation are not happy bedfellows in Europe
• Neutral Sentiment: Netflix launched an international campaign using 35mm film, supported by a social series about creatives’ viewing tastes. The campaign may support brand engagement, but its financial impact is unclear. Article: Netflix embraces 35mm film in international campaign
• Neutral Sentiment: A report described November short interest as totaling zero shares, with a 0.0-day days-to-cover ratio. That figure does not indicate meaningful short positioning, despite the report’s claim of a large increase.
• Negative Sentiment: Investor confidence remains a concern: coverage cites slowing Netflix growth and evidence that viewers are watching less. A content leadership shake-up is among management’s steps to address the challenge, but the concerns weigh on the growth outlook. Article: Why Netflix Stock Plunged 11% in October
• Negative Sentiment: Netflix also declined amid weakness across entertainment stocks. Coverage linked the sector’s reaction to concerns about the film outlook and debt at the newly combined Warner Bros.–Paramount, though it characterized Netflix and Disney as relatively less affected. Article: Skydance Sinks as Warner Bros. Film Slump Overshadows Earnings Beat

Netflix Profile

Netflix, Inc. is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand. Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.