Netflix, Inc. $NFLX Shares Acquired by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 262,861 shares of the Internet television network’s stock after acquiring an additional 22,760 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Netflix were worth $18,768,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Campbell Newman Asset Management Inc. acquired a new stake in shares of Netflix in the second quarter valued at $568,000. Field & Main Bank grew its stake in Netflix by 19.3% during the 2nd quarter. Field & Main Bank now owns 20,928 shares of the Internet television network’s stock worth $1,494,000 after purchasing an additional 3,387 shares in the last quarter. Prosperitas Financial LLC grew its stake in Netflix by 13.6% during the 2nd quarter. Prosperitas Financial LLC now owns 72,264 shares of the Internet television network’s stock worth $5,160,000 after purchasing an additional 8,667 shares in the last quarter. Archer Investment Corp purchased a new stake in Netflix during the 2nd quarter worth about $306,000. Finally, Financial Avengers Inc. increased its holdings in Netflix by 148.4% during the 2nd quarter. Financial Avengers Inc. now owns 3,205 shares of the Internet television network’s stock worth $229,000 after purchasing an additional 1,915 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Up 2.4%

Shares of NASDAQ:NFLX opened at $81.72 on Friday. The company has a market capitalization of $340.28 billion, a PE ratio of 25.72, a P/E/G ratio of 1.00 and a beta of 1.52. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $126.71. The firm has a 50 day simple moving average of $74.65 and a 200-day simple moving average of $84.33.

Netflix (NASDAQ:NFLX) last posted its 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. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm had revenue of $12.56 billion for the quarter, compared to the consensus estimate of $12.58 billion. During the same period last year, the firm posted $0.72 EPS. The company’s revenue was up 13.4% on a year-over-year basis. On average, equities analysts predict that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Theodore A. Sarandos sold 105,850 shares of Netflix stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $73.03, for a total transaction of $7,730,225.50. Following the sale, the chief executive officer owned 206,266 shares in the company, valued at approximately $15,063,605.98. The trade was a 33.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 the business’s 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 completion of the sale, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at $5,592,316.73. The trade was a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 600,295 shares of company stock valued at $49,056,671 over the last ninety days. Company insiders own 1.24% of the company’s stock.

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman’s Pershing Square reportedly added approximately 13.1 million Netflix shares, making NFLX one of the hedge fund’s new concentrated holdings. The move may bolster investor confidence in Netflix’s valuation and long-term earnings potential. Bill Ackman portfolio overhaul article
• Positive Sentiment: Analysts and market commentators point to Netflix’s rapidly expanding advertising business, a potential $3 billion advertising revenue opportunity, continued global expansion and margin growth as catalysts for a possible recovery toward $100 and beyond. Record share buybacks could further support earnings per share. Netflix stock price prediction article
• Positive Sentiment: Netflix is being described as an undervalued long-term holding, with bullish arguments centered on double-digit revenue growth, free-cash-flow generation and the ability to monetize live events and lower-priced ad-supported plans. Netflix five-year outlook article
• Neutral Sentiment: The Netflix preview of Grand Theft Auto VI attracted significant online attention and traffic, but the immediate stock-market beneficiary appears to be Take-Two Interactive, the game’s publisher, rather than Netflix. GTA 6 Netflix preview article
• Negative Sentiment: Some analysts argue that Netflix’s growth is moderating and that Alphabet offers stronger diversification, advertising exposure and valuation. Recent commentary also identifies resistance near $82 and muted enthusiasm following the latest earnings report. NFLX versus GOOGL article
• Negative Sentiment: Reported insider activity remains a potential overhang: executives and directors made numerous sales and no purchases over the past six months. Investors may interpret the selling as reduced insider conviction, although it may also reflect routine diversification. Netflix ad monetization and market resistance article

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NFLX. Jefferies Financial Group decreased their price objective on Netflix from $128.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, June 10th. TD Cowen reduced their target price on shares of Netflix from $112.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Rosenblatt Securities set a $75.00 price target on shares of Netflix and gave the stock a “neutral” rating in a research note on Friday, July 17th. Stephens assumed coverage on shares of Netflix in a report on Friday, July 17th. They set an “overweight” rating for the company. Finally, Sanford C. Bernstein set a $95.00 price objective on shares of Netflix and gave the company an “outperform” rating in a research report on Friday, July 17th. Four 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.19.

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.