Empowered Funds LLC Purchases 149,271 Shares of Netflix, Inc. $NFLX

Empowered Funds LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,007,619 shares of the Internet television network’s stock after purchasing an additional 149,271 shares during the quarter. Empowered Funds LLC’s holdings in Netflix were worth $71,944,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Turning Point Benefit Group Inc. boosted its holdings in shares of Netflix by 13,400.0% during the 4th quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock valued at $25,000 after buying an additional 268 shares in the last quarter. Imprint Wealth LLC bought a new position in shares of Netflix in the 3rd quarter worth about $25,000. Cornerstone Financial Management LLC bought a new position in shares of Netflix in the 4th quarter worth about $26,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in Netflix during the 2nd quarter valued at about $26,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Netflix during the 4th quarter valued at about $26,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 27,312 shares of Netflix stock in a transaction that occurred 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 directly owned 120,931 shares in the company, valued at $8,893,265.74. The trade was a 18.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 9,248 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $75.79, for a total transaction of $700,905.92. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 600,295 shares of company stock worth $49,056,671 in the last quarter. Insiders own 1.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NFLX. China Intl Cap upgraded Netflix to a “strong-buy” rating in a research note on Tuesday, July 21st. Oppenheimer set a $85.00 price objective on Netflix and gave the company an “outperform” rating in a research note on Friday, July 17th. Morgan Stanley reissued an “overweight” rating and issued a $90.00 target price (down from $115.00) on shares of Netflix in a research note on Tuesday, July 14th. Weiss Ratings downgraded Netflix from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 26th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Netflix in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.19.

Netflix Stock Performance

Shares of NFLX opened at $79.84 on Friday. The company has a market cap of $332.45 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 1.02 and a beta of 1.52. The business’s fifty day simple moving average is $74.56 and its two-hundred day simple moving average is $84.35. Netflix, Inc. has a 12 month low of $65.08 and a 12 month high of $126.71. 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 (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. The firm had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. Research analysts anticipate that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix’s advertising strategy remains a potential earnings catalyst. The company is targeting roughly $3 billion in advertising revenue, while expanding ad-supported plans globally and incorporating live events to improve monetization. Netflix Stock Opinions on Ad Monetization and Market Resistance
• Positive Sentiment: Analyst support and a stronger content lineup are helping underpin the recovery narrative. Wolfe Research recently raised its price target to $95, while reports of a Netflix-related Grand Theft Auto VI preview and other upcoming releases could support engagement and subscriber monetization. Jim Cramer Says Netflix Worth the Risk as Wolfe Raises Price Target to $95
• Neutral Sentiment: The stock has historically attracted buyers near its current technical floor, and it has recovered more than 21% from a recent low. However, investors are watching whether the rebound can break through resistance and develop into a sustained advance. NFLX Has Bounced From This Price Before. Now What?
• Neutral Sentiment: Netflix continues to post solid fundamentals: latest quarterly revenue rose 13.4% year over year to $12.56 billion, while earnings modestly exceeded expectations. The slight revenue miss and debate over slowing growth, however, have limited investor enthusiasm.
• Negative Sentiment: Relative weakness is notable because Netflix declined even as the broader market advanced. Analysts increasingly view Alphabet as having an edge because of its faster-growing, diversified advertising business and lower valuation, raising concerns about Netflix’s multiple and future growth rate. NFLX vs. GOOGL: Which Streaming and Ad Stock Has an Edge Right Now?
• Negative Sentiment: Reported insider activity has been heavily skewed toward selling, with no insider purchases and multiple sales by executives and directors over the past six months. While such transactions do not necessarily signal deteriorating operations, they can weigh on sentiment during a technical pullback. Netflix Insider Trading and Market Resistance

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.