Keebeck Wealth Management Buys Shares of 28,685 Netflix, Inc. $NFLX

Keebeck Wealth Management purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the second quarter, Holdings Channel.com reports. The fund purchased 28,685 shares of the Internet television network’s stock, valued at approximately $2,048,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Netflix by 912.5% during the fourth quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock valued at $36,567,805,000 after purchasing an additional 351,493,659 shares during the last quarter. BlackRock Inc. bought a new position in Netflix during the second quarter worth about $24,902,221,000. State Street Corp increased its stake in shares of Netflix by 927.6% in the fourth quarter. State Street Corp now owns 176,780,995 shares of the Internet television network’s stock worth $16,574,986,000 after purchasing an additional 159,578,053 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Netflix by 892.0% in the fourth quarter. Geode Capital Management LLC now owns 99,598,678 shares of the Internet television network’s stock worth $9,305,336,000 after purchasing an additional 89,558,684 shares in the last quarter. Finally, Capital World Investors raised its position in shares of Netflix by 859.1% in the fourth quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock valued at $8,376,656,000 after purchasing an additional 80,025,890 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ NFLX opened at $79.59 on Friday. Netflix, Inc. has a 1 year low of $65.08 and a 1 year 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 1.14. The stock has a market capitalization of $331.41 billion, a PE ratio of 25.05, a P/E/G ratio of 1.01 and a beta of 1.52. The company’s 50 day simple moving average is $74.39 and its two-hundred day simple moving average is $84.34.

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

Insider Activity at Netflix

In related news, insider David A. Hyman sold 5,723 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total transaction of $416,920.55. Following the completion of the transaction, the insider directly owned 316,100 shares in the company, valued at $23,027,885. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Adam Neumann sold 9,248 shares of Netflix stock in a transaction dated 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. This trade represents a 11.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 600,295 shares of company stock valued at $49,056,671 in the last ninety days. 1.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NFLX. Erste Group Bank cut shares of Netflix from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings downgraded Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 26th. Piper Sandler reiterated an “overweight” rating and issued a $85.00 price target (down from $115.00) on shares of Netflix in a research report on Friday, July 17th. JPMorgan Chase & Co. decreased their price objective on Netflix from $118.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Finally, TD Cowen dropped their price objective on Netflix from $112.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $103.48.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix continues to grow faster than many streaming rivals, and its lower valuation after the selloff could provide significant upside if revenue, advertising and engagement trends remain strong. A valuation model described the current setup as potentially asymmetric in investors’ favor. Netflix Is Down 40% From Its All-Time High Could Netflix Stock Double From Here?
• Positive Sentiment: JPMorgan analyst Doug Anmuth maintained an Overweight rating and an $85 price target, citing Netflix’s content pipeline and multiple initiatives to support engagement and revenue growth. The view suggests potential upside from current levels, although the analyst sees no single catalyst guaranteeing acceleration. Netflix Has No Single Silver Bullet
• Positive Sentiment: Netflix’s advertising-supported tier and broad content offering could make the company relatively resilient during a recession, as consumers may retain lower-cost entertainment subscriptions even amid economic pressure. Which Streaming Stock Would Hold Up Better in a Recession?
• Neutral Sentiment: Representatives for Meghan of Sussex reportedly held exploratory discussions about a possible role in a third season of The Gentlemen. Netflix has not ordered the season, so the potential casting has no immediate financial impact. Meghan of Sussex Eyes Role in Netflix Show The Gentlemen
• Negative Sentiment: With Netflix no longer emphasizing subscriber numbers, investors must rely more heavily on revenue growth, advertising performance, engagement and profitability metrics. That makes it harder to assess momentum and contributes to debate over whether the stock’s decline reflects a bargain or slowing growth. Netflix Is Down 40% From Its All-Time High
• Negative Sentiment: YouTube is reportedly offering creators substantial payments and warning that simultaneous Netflix deals could jeopardize marketing support and brand-campaign revenue. This could intensify competition for exclusive content and creator attention. YouTube Offers Creators Millions to Avoid Netflix Deals

Netflix 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.