Bank of New York Mellon Corp Has $2.60 Billion Stake in Netflix, Inc. $NFLX

Bank of New York Mellon Corp trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,082,031 shares of the Internet television network’s stock after selling 670,052 shares during the period. Bank of New York Mellon Corp’s holdings in Netflix were worth $2,603,937,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Blackhawk Capital Partners LLC lifted its stake in Netflix by 10.5% in the first quarter. Blackhawk Capital Partners LLC now owns 57,034 shares of the Internet television network’s stock valued at $5,484,000 after acquiring an additional 5,413 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Netflix by 2.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 312,662 shares of the Internet television network’s stock valued at $30,062,000 after purchasing an additional 7,800 shares during the period. Nolet Wealth Management LLC lifted its stake in Netflix by 39.1% in the 1st quarter. Nolet Wealth Management LLC now owns 4,378 shares of the Internet television network’s stock valued at $421,000 after purchasing an additional 1,230 shares during the last quarter. Harmony Asset Management LLC lifted its stake in Netflix by 377.2% in the 1st quarter. Harmony Asset Management LLC now owns 23,879 shares of the Internet television network’s stock valued at $2,296,000 after purchasing an additional 18,875 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Netflix by 10.4% during the first quarter. Geneos Wealth Management Inc. now owns 41,075 shares of the Internet television network’s stock worth $3,949,000 after purchasing an additional 3,885 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $73.67 on Thursday. Netflix, Inc. has a 12-month low of $70.86 and a 12-month high of $127.75. The company’s 50 day moving average price is $80.80 and its two-hundred day moving average price is $87.17. The firm has a market cap of $310.21 billion, a PE ratio of 23.80, a PEG ratio of 0.93 and a beta of 1.52. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.43.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 16th. The Internet television network reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.47. The company had revenue of $12.25 billion during the quarter, compared to the consensus estimate of $12.17 billion. Netflix had a net margin of 28.52% and a return on equity of 40.92%. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the business earned $6.61 earnings per share. Equities research analysts predict that Netflix, Inc. will post 3.6 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the topic of several research analyst reports. Seaport Research Partners upped their price objective on Netflix from $115.00 to $119.00 and gave the company a “buy” rating in a research note on Friday, April 17th. President Capital lifted their target price on Netflix from $133.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Barclays set a $85.00 target price on Netflix and gave the stock an “equal weight” rating in a report on Tuesday. Citigroup restated a “buy” rating and issued a $100.00 price target (down from $115.00) on shares of Netflix in a research note on Thursday, July 9th. Finally, Bank of America reaffirmed a “buy” rating and set a $125.00 price target on shares of Netflix in a report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.29.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Investors are positioning for Netflix’s Q2 earnings, with some analysts and strategists still seeing upside if the company can show resilient subscriber growth, stronger ad revenue, and continued execution ahead of the report. All Eyes on Netflix Stock Ahead of Earnings; Here’s What Benchmark Expects
• Positive Sentiment: Netflix’s push into live sports is a potential growth catalyst, after it secured exclusive MLB Home Run Derby streaming rights, showing it is expanding beyond traditional scripted content to deepen engagement and add new revenue opportunities. Netflix (NFLX) Secures Exclusive MLB Home Run Derby Streaming Rights
• Positive Sentiment: Some bullish commentary argues the stock could rebound sharply if earnings surprise to the upside, with options activity implying a potentially large post-earnings move. Netflix’s Q3 Earnings Report Could Lead to $21.5 Billion Swing in Market Value
• Neutral Sentiment: Wall Street remains focused on the same key issues into earnings: engagement trends, ad-tier monetization, content pipeline quality, and whether Netflix can justify its valuation after a steep decline from recent highs. Netflix’s next growth chapter hinges on keeping viewers hooked
• Negative Sentiment: Investor concern is still being driven by slowing engagement, weaker viewer retention, and signs that Netflix may need to prove it can keep users hooked as competition from YouTube, traditional media, and mobile viewing intensifies. Netflix’s next growth chapter hinges on keeping viewers hooked
• Negative Sentiment: Regulatory risk is also back in focus after criticism over rising subscription prices, which could add pressure if policymakers target streaming pricing or consumer practices. Your Netflix bill is up 29% in just over a year. It’s time for Washington to step in.

Insider Buying and Selling at Netflix

In other Netflix news, Director Bradford L. Smith sold 35,990 shares of the firm’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 transaction, the director owned 79,690 shares in the company, valued at $6,177,568.80. This trade represents a 31.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Reed Hastings sold 386,700 shares of Netflix stock in a transaction on Monday, June 1st. The shares were sold at an average price of $85.97, for a total value of $33,244,599.00. Following the completion of the transaction, the director directly owned 3,940 shares of the company’s stock, valued at $338,721.80. This represents a 98.99% 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 899,839 shares of company stock valued at $80,141,661 over the last ninety days. 1.24% of the stock is owned by corporate insiders.

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.