Keel Point LLC Sells 8,132 Shares of Netflix, Inc. $NFLX

Keel Point LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 648,133 shares of the Internet television network’s stock after selling 8,132 shares during the period. Netflix comprises about 4.1% of Keel Point LLC’s holdings, making the stock its 3rd largest position. Keel Point LLC’s holdings in Netflix were worth $62,318,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pacific Sun Financial Corp boosted its stake in Netflix by 1.6% during the 3rd quarter. Pacific Sun Financial Corp now owns 574 shares of the Internet television network’s stock valued at $688,000 after purchasing an additional 9 shares during the last quarter. Beaird Harris Wealth Management LLC raised its stake in shares of Netflix by 9.6% in 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 last quarter. Monograph Wealth Advisors LLC lifted its holdings in shares of Netflix by 1.8% in the second quarter. Monograph Wealth Advisors LLC now owns 682 shares of the Internet television network’s stock valued at $913,000 after purchasing an additional 12 shares in the last quarter. Resources Management Corp CT ADV lifted its holdings in shares of Netflix by 2.0% in the second quarter. Resources Management Corp CT ADV now owns 829 shares of the Internet television network’s stock valued at $1,110,000 after purchasing an additional 16 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. boosted its position in shares of Netflix by 1.4% during the second quarter. Sompo Asset Management Co. Ltd. now owns 1,500 shares of the Internet television network’s stock valued at $2,009,000 after buying an additional 20 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NFLX has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating on shares of Netflix in a research report on Friday, April 17th. Jefferies Financial Group cut their price objective on shares of Netflix from $128.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, June 10th. Wedbush reduced their target price on shares of Netflix from $118.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. China Renaissance increased their target price on shares of Netflix from $90.00 to $100.00 and gave the company a “hold” rating in a report on Friday, April 17th. Finally, Guggenheim set a $75.00 price target on shares of Netflix and gave the company a “buy” rating in a research report on Friday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.48.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix agreed to a five-year, approximately $500 million licensing deal covering all 371 episodes of The Walking Dead universe in international markets. The agreement strengthens Netflix’s global content lineup and adds a recognizable franchise beginning in 2027. Los Angeles Times article
• Positive Sentiment: Walmart-owned Flipkart is offering qualifying loyalty members a monthly Netflix mobile subscription after four orders in a month. The partnership could support customer acquisition and engagement in India, although the direct financial impact appears limited. Reuters article

Netflix Trading Down 2.0%

NASDAQ NFLX opened at $71.71 on Friday. The business’s fifty day moving average is $76.66 and its 200-day moving average is $85.41. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $298.60 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 0.90 and a beta of 1.52. Netflix, Inc. has a one year low of $65.08 and a one year high of $126.71.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The company had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts predict that Netflix, Inc. will post 3.59 EPS for the current year.

Insider Activity

In other news, Director Reed Hastings sold 386,700 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $85.97, for a total transaction of $33,244,599.00. Following the completion of the transaction, the director directly owned 3,940 shares of the company’s stock, valued at $338,721.80. This represents a 98.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total transaction of $2,402,636.64. Following the sale, the chief executive officer owned 284,804 shares of the company’s stock, valued at approximately $25,054,207.88. The trade was a 8.75% 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. Over the last ninety days, insiders sold 492,289 shares of company stock worth $42,186,530. 1.24% of the stock is owned by insiders.

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.