9,181 Netflix, Inc. $NFLX Shares Bought by Formidable Asset Management LLC

Formidable Asset Management LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 40.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,951 shares of the Internet television network’s stock after buying an additional 9,181 shares during the period. Formidable Asset Management LLC’s holdings in Netflix were worth $2,281,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd acquired a new position in Netflix during the second quarter worth about $26,000. Pathway Financial Advisers LLC bought a new stake in Netflix in the third quarter worth about $26,000. Sawyer & Company Inc acquired a new stake in Netflix in the 3rd quarter valued at about $27,000. Compound Global Advisors LLC acquired a new stake in Netflix in the 2nd quarter valued at about $29,000. Finally, Burnham & Co LLC acquired a new stake in Netflix in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several recent research reports. Argus set a $95.00 price objective on shares of Netflix and gave the stock a “buy” rating in a research note on Thursday, October 22nd. TD Cowen reissued a “buy” rating and set a $100.00 target price on shares of Netflix in a research note on Wednesday, October 21st. Sanford C. Bernstein reissued an “outperform” rating and set a $80.00 target price (down from $95.00) on shares of Netflix in a research note on Wednesday, October 21st. Rothschild & Co Redburn reduced their target price on shares of Netflix from $120.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Finally, Moffett Nathanson restated a “buy” rating and issued a $90.00 price target on shares of Netflix in a research report on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $89.14.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix ordered Other Worlds: A Stranger Things Adventure, a live-action prequel series. Extending a popular franchise could support viewer engagement, though the financial impact and timing are not yet clear. Article: Stranger Things prequel series
• Positive Sentiment: A valuation analysis argues NFLX could be undervalued, estimating about 23% upside to fair value. This offers a counterpoint to recent weakness, but is an analyst view rather than a company announcement. Article: Netflix stock fair-value analysis
• Neutral Sentiment: CEO Ted Sarandos and CFO Spencer Neumann disclosed share sales, but the transactions were made to cover tax withholding on vested equity awards. That stated purpose makes them a less clear signal about management’s view of the stock. Article: Netflix insider share sales
• Negative Sentiment: Coverage noted NFLX slipping even with the new Stranger Things plans, suggesting the content announcement has not eased near-term selling pressure. The shares are also near their 52-week low and far below their 52-week high, reflecting a weak recent trend. Article: Netflix stock slips despite new Stranger Things plans

Netflix Price Performance

NASDAQ NFLX opened at $63.41 on Friday. The stock’s 50-day moving average price is $71.03 and its two-hundred day moving average price is $80.97. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The company has a market cap of $260.38 billion, a PE ratio of 18.33, a PEG ratio of 0.93 and a beta of 1.62. Netflix, Inc. has a 1 year low of $61.39 and a 1 year high of $116.73.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 EPS for the quarter, topping the consensus estimate of $0.82 by $0.05. The company had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.87 billion. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company posted $0.59 earnings per share. On average, analysts predict that Netflix, Inc. will post 3.59 EPS for the current year.

Insider Buying and Selling at Netflix

In related news, insider David A. Hyman sold 5,727 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $64.55, for a total value of $369,677.85. Following the completion of the transaction, the insider owned 166,100 shares of the company’s stock, valued at approximately $10,721,755. This trade represents a 3.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Neumann sold 9,253 shares of Netflix stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $66.15, for a total transaction of $612,085.95. Following the transaction, the chief financial officer owned 73,787 shares in the company, valued at approximately $4,881,010.05. The trade was a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 70,960 shares of company stock valued at $4,752,050 over the last three months. 1.24% of the stock is owned by insiders.

Netflix Profile

Netflix, Inc is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand.

Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.