Mizuho Markets Cayman LP Cuts Position in Netflix, Inc. $NFLX

Mizuho Markets Cayman LP lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 84.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,600 shares of the Internet television network’s stock after selling 14,480 shares during the quarter. Mizuho Markets Cayman LP’s holdings in Netflix were worth $250,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in NFLX. First Financial Corp IN lifted its stake in shares of Netflix by 900.0% in the fourth quarter. First Financial Corp IN now owns 270 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 243 shares during the period. DiNuzzo Private Wealth Inc. grew its position in Netflix by 885.2% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 266 shares of the Internet television network’s stock worth $25,000 after buying an additional 239 shares during the period. Turning Point Benefit Group Inc. increased its holdings in Netflix by 13,400.0% in the fourth quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock valued at $25,000 after buying an additional 268 shares in the last quarter. Imprint Wealth LLC purchased a new position in Netflix in the third quarter valued at about $25,000. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of Netflix during the 4th quarter valued at approximately $26,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In other news, Director Bradford L. Smith sold 35,990 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total value of $2,789,944.80. Following the completion of the transaction, the director directly owned 79,690 shares of the company’s stock, valued at $6,177,568.80. The trade was a 31.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore A. Sarandos sold 27,312 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $87.97, for a total value of $2,402,636.64. Following the completion of the sale, the chief executive officer owned 284,804 shares in the company, valued at $25,054,207.88. This represents a 8.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 899,839 shares of company stock valued at $80,141,661 in the last ninety days. 1.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. China Intl Cap raised Netflix to a “strong-buy” rating in a research note on Tuesday. Raymond James Financial reaffirmed a “market perform” rating on shares of Netflix in a research note on Thursday, May 14th. Jefferies Financial Group reduced their price objective on Netflix from $128.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, June 10th. Needham & Company LLC reiterated a “buy” rating on shares of Netflix in a research report on Friday, April 17th. Finally, Oppenheimer set a $85.00 target price on Netflix and gave the company an “outperform” rating in a report on Friday, July 17th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $103.48.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Negative Sentiment: Netflix’s Q2 results beat EPS expectations, but revenue came in slightly below consensus and management signaled growth could slow to around 12% in Q3, raising concerns about momentum. Netflix Has Plummeted Over the Past Year and Just Dropped Again on Earnings. At 22 Times Profits, Is It a Buy?
• Negative Sentiment: Investors are also reacting to a “valuation reset” and weaker transparency after Netflix said it will report key viewership metrics less often, making it harder to measure progress. Is Netflix Asking Investors To Trust A Story It Will No Longer Tell?
• Negative Sentiment: The selloff has been amplified by bearish calls and articles arguing that sentiment remains weak, with some analysts saying the stock still has room to fall despite the recent drop. ‘Scratching the Surface,’ Says Top Investor About Netflix Stock
• Negative Sentiment: Netflix also completed a $1 billion senior notes offering to refinance debt, which is financially prudent but may reinforce the market’s focus on capital structure rather than growth. Netflix Issues $1 Billion Senior Notes to Refinance Debt

Netflix Stock Down 0.2%

NFLX stock opened at $68.53 on Thursday. The company’s 50 day simple moving average is $79.04 and its 200-day simple moving average is $86.31. The firm has a market capitalization of $285.35 billion, a PE ratio of 21.57, a P/E/G ratio of 0.86 and a beta of 1.52. Netflix, Inc. has a 12 month low of $65.08 and a 12 month high of $126.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.41.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The firm had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.58 billion. During the same period in the previous year, the firm posted $0.72 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Netflix Company 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.