NewEdge Wealth LLC Invests $38.80 Million in Netflix, Inc. $NFLX

NewEdge Wealth LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 543,390 shares of the Internet television network’s stock, valued at approximately $38,798,000.

A number of other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after buying an additional 257 shares during the period. Revolve Wealth Partners LLC raised its holdings in Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after acquiring an additional 144 shares during the period. Sivia Capital Partners LLC lifted its position in Netflix by 21.2% during the second quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network’s stock worth $1,883,000 after acquiring an additional 246 shares during the last quarter. Strategic Investment Advisors MI lifted its position in Netflix by 18.9% during the second quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network’s stock worth $1,036,000 after acquiring an additional 123 shares during the last quarter. Finally, Schnieders Capital Management LLC. boosted its holdings in shares of Netflix by 12.1% during the second quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network’s stock worth $2,832,000 after acquiring an additional 228 shares during the period. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NFLX shares. UBS Group decreased their target price on Netflix from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. Bank of America reissued a “buy” rating and set a $125.00 price target on shares of Netflix in a report on Monday, May 18th. Daiwa Securities Group boosted their price target on Netflix from $97.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group lowered Netflix from an “underweight” rating to a “sell” rating in a report on Monday, July 20th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $92.00 price objective (down from $115.00) on shares of Netflix in a report on Monday, July 13th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $103.48.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman returns: Pershing Square disclosed a roughly 4.9% portfolio position in Netflix, reversing its earlier exit at a reported loss of about $400 million. Ackman’s renewed conviction reflects expectations for double-digit revenue growth, margin expansion and continued streaming leadership. What’s Going On With Netflix Stock Wednesday?
• Positive Sentiment: Advertising remains a growth catalyst: Analysts highlighted Netflix’s rapidly scaling ad-supported business, including new advertising tools and live programming that could help generate billions in ad revenue and support longer-term revenue expansion. NFLX’s Ad Business Focus
• Positive Sentiment: Valuation attracts bargain hunters: With the stock down about 43% from its peak and trading near 21 times forward earnings, investors are comparing Netflix’s valuation with prior major pullbacks and arguing that the risk-reward profile has improved. Several commentators and CNBC’s Jason Snipe also endorsed the shares. Netflix Trades at 21 Times Forward Earnings
• Neutral Sentiment: Broader market rotation helped: Netflix participated in a shift away from semiconductor stocks and toward beaten-down software and technology shares. This suggests part of the move reflected sector positioning rather than a new company-specific operating announcement. Netflix, Salesforce, and Adobe Rally
• Negative Sentiment: Copyright lawsuit adds risk: The band Demon Hunter sued Netflix over the title and alleged intellectual-property issues involving KPop Demon Hunters. The legal action introduces potential costs and reputational risk, although its financial impact is currently unclear. Netflix sued by band Demon Hunter

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 27,312 shares of Netflix stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $73.54, for a total value of $2,008,524.48. Following the completion of the transaction, the chief executive officer directly owned 120,931 shares of the company’s stock, valued at $8,893,265.74. The trade was a 18.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 9,248 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $75.79, for a total value of $700,905.92. Following the sale, the chief financial officer owned 73,787 shares of the company’s stock, valued at approximately $5,592,316.73. The trade was a 11.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 600,295 shares of company stock valued at $49,056,671 over the last ninety days. 1.24% of the stock is owned by corporate insiders.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $80.22 on Thursday. The company’s 50 day moving average price is $74.43 and its two-hundred day moving average price is $84.39. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $126.71. The firm has a market cap of $334.03 billion, a PE ratio of 25.25, a PEG ratio of 0.98 and a beta of 1.52. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $12.58 billion. During the same period last year, the firm earned $0.72 earnings per share. The business’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 earnings per share for the current 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.