Corient Private Wealth LP Has $449.53 Million Stake in Netflix, Inc. $NFLX

Corient Private Wealth LP boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 133.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,295,989 shares of the Internet television network’s stock after purchasing an additional 3,595,881 shares during the period. Corient Private Wealth LP owned 0.15% of Netflix worth $449,534,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Netflix by 5.0% in the fourth 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 lifted its stake 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 worth $912,000 after acquiring an additional 144 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Netflix by 21.2% in the 2nd 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 in the last quarter. Strategic Investment Advisors MI lifted its stake in Netflix by 18.9% in the 2nd 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 in the last quarter. Finally, Schnieders Capital Management LLC. boosted its position in Netflix by 12.1% during the 2nd 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. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, August 14th. Piper Sandler reaffirmed an “overweight” rating and set a $85.00 price objective (down from $115.00) on shares of Netflix in a research report on Friday, July 17th. Weiss Ratings lowered shares of Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 26th. CLSA began coverage on shares of Netflix in a research report on Monday, July 20th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Netflix from $118.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have given 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.19.

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Wolfe Research raised its Netflix price target to $95 from $84, arguing that viewer-engagement concerns are overstated and that an improving second-half content slate could help the shares. Jim Cramer separately called the stock a tactical buying opportunity after its recent decline. Netflix is primed to move higher as viewer engagement improves, Wolfe Research says
• Positive Sentiment: Netflix is reportedly exploring a broader streaming-subscription hub that could allow customers to sign up for third-party services such as Peacock and Fox One. The strategy could increase convenience, subscription-related revenue, and customer retention. Netflix Stock Climbs on Plans to Become Streaming Subscription Hub
• Positive Sentiment: Expanded NFL-related content and access to rival streaming programming could give Netflix more opportunities to grow its advertising business by increasing engagement and the value of its ad-supported tier. Netflix Stock: NFL Growth and Rival Streaming Access Could Grow Its Ad Business
• Neutral Sentiment: Reports point to an upcoming Netflix preview tied to Grand Theft Auto VI. The event could generate attention and short-term engagement, but its direct financial impact on Netflix is unclear. Dear Netflix Stock Fans, Mark Your Calendars for August 27
• Negative Sentiment: Industry data indicates that streaming price increases are slowing, while premium ad-free plans have received larger hikes than ad-supported tiers. This could limit Netflix’s pricing power and revenue growth if consumers resist further increases. 3-Year Streaming Outlook: Slowing Down Pricing Hikes
• Negative Sentiment: Some investor commentary remains cautious, noting that Netflix’s strong business performance has not consistently translated into share-price momentum and that the recent rebound case may already be reflected in expectations. Here’s the Test, Says Investor About Netflix Stock

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 27,312 shares of Netflix stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $73.54, for a total value of $2,008,524.48. Following the completion of the sale, the chief executive officer owned 120,931 shares of the company’s stock, valued at approximately $8,893,265.74. The trade was a 18.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bradford L. Smith sold 35,990 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total transaction of $2,789,944.80. Following the completion of the sale, the director owned 79,690 shares of the company’s stock, valued at $6,177,568.80. This represents a 31.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 600,295 shares of company stock worth $49,056,671 over the last quarter. 1.24% of the stock is currently owned by corporate insiders.

Netflix Trading Down 0.9%

Shares of NASDAQ NFLX opened at $81.46 on Thursday. The stock has a market cap of $339.19 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.03 and a beta of 1.52. The business has a 50 day simple moving average of $74.51 and a 200 day simple moving average of $84.37. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $126.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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. The firm had revenue of $12.56 billion for 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 company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. On average, research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

About Netflix

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.