Perigon Wealth Management LLC Takes $12.27 Million Position in Netflix, Inc. $NFLX

Perigon Wealth Management LLC bought a new position in Netflix, Inc. (NASDAQ:NFLX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 171,829 shares of the Internet television network’s stock, valued at approximately $12,269,000.

Other hedge funds also recently bought and sold shares of the company. Imprint Wealth LLC bought a new stake in shares of Netflix in the 3rd quarter worth approximately $25,000. Wealth Watch Advisors INC bought a new position in shares of Netflix during the third quarter valued at approximately $103,000. Strategic Wealth Investment Group LLC purchased a new stake in Netflix in the second quarter worth $121,000. Wiser Advisor Group LLC bought a new stake in Netflix in the third quarter valued at $114,000. Finally, Beaird Harris Wealth Management LLC increased its position in Netflix by 9.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock valued at $137,000 after purchasing an additional 10 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NFLX. Citigroup reaffirmed a “market perform” rating on shares of Netflix in a research report on Monday. Seaport Research Partners downgraded shares of Netflix from a “buy” rating to a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company set a $80.00 price objective on Netflix and gave the company an “equal weight” rating in a research report on Friday, July 17th. KGI Securities lowered Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 target price for the company. in a research report on Friday, July 17th. Finally, Erste Group Bank lowered Netflix from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.48.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 9,248 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $75.79, for a total transaction of $700,905.92. Following the completion of the transaction, the chief financial officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reed Hastings sold 386,700 shares of the company’s stock in a transaction dated 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 transaction, the director owned 3,940 shares in the company, valued at approximately $338,721.80. The trade was a 98.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 600,295 shares of company stock valued at $49,056,671. 1.24% of the stock is currently owned by insiders.

Netflix Price Performance

NFLX stock opened at $76.02 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a 50 day moving average price of $74.53 and a 200-day moving average price of $84.46. Netflix, Inc. has a 52-week low of $65.08 and a 52-week high of $126.71. The firm has a market capitalization of $316.54 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 0.98 and a beta of 1.52.

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, topping the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. Equities research analysts forecast that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Key Headlines Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman returned to Netflix: Pershing Square disclosed a 3.15 million-share position, representing approximately 4.9% of its portfolio. Ackman said Netflix has effectively “won the streaming wars” and believes its valuation and earnings-growth potential support significant long-term upside. The purchase is notable because he previously sold Netflix at a loss of more than $400 million in 2022. Billionaire Bill Ackman Just Invested in Netflix Stock. Here’s Why Investors Should Care.
• Positive Sentiment: Valuation and shareholder returns may support the stock: Several analyses argue that NFLX trades at a lower forward earnings multiple than it historically commanded. They also point to expanding margins, share buybacks and earnings growth running ahead of revenue growth as potential drivers of per-share value. Historical drawdowns are cited as evidence that the current decline could create a contrarian buying opportunity. Netflix Stock Is Cheap and It Has More Than 70% Upside Potential Here
• Neutral Sentiment: Analyst and media support is mixed: Jim Cramer advised a caller to average down, while other coverage frames the stock’s decline as a choice between a generational buying opportunity and a value trap. Investors are looking for evidence that Netflix can sustain growth rather than relying primarily on cost controls and buybacks.
• Negative Sentiment: Growth concerns outweighed Ackman’s purchase: Revenue growth is cooling, and market participants remain concerned that third-quarter revenue and earnings guidance may disappoint. Netflix’s recent quarterly revenue modestly missed estimates despite an EPS beat, reinforcing worries that the business is not expanding as quickly as its valuation previously implied. Why Is Netflix Stock Falling on Monday?
• Negative Sentiment: Additional overhangs include insider selling and a content disclaimer: Netflix’s CFO sold nearly $5.6 million of stock, while a new disclaimer involving The Last House created an avoidable reputational and content-related distraction.

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.