Public Employees Retirement System of Ohio Lowers Holdings in Netflix, Inc. $NFLX

Public Employees Retirement System of Ohio lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,631,177 shares of the Internet television network’s stock after selling 124,299 shares during the period. Public Employees Retirement System of Ohio’s holdings in Netflix were worth $116,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of NFLX. Imprint Wealth LLC bought a new stake in Netflix in the 3rd quarter valued at $25,000. Wealth Watch Advisors INC bought a new position in shares of Netflix during the 3rd quarter valued at about $103,000. Strategic Wealth Investment Group LLC purchased a new position in shares of Netflix during the second quarter valued at about $121,000. Wiser Advisor Group LLC bought a new stake in shares of Netflix in the third quarter worth about $114,000. Finally, Beaird Harris Wealth Management LLC increased its holdings in shares of Netflix by 9.6% in the third quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock worth $137,000 after purchasing an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $79.84 on Friday. The stock has a market cap of $332.45 billion, a PE ratio of 25.13, a P/E/G ratio of 1.02 and a beta of 1.52. Netflix, Inc. has a 12 month low of $65.08 and a 12 month high of $126.71. The company has a 50-day moving average price of $74.56 and a 200 day moving average price of $84.35. 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 released 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 return on equity of 40.02% and a net margin of 28.22%.The firm had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts anticipate that Netflix, Inc. will post 3.59 earnings per share for the current year.

Netflix News Roundup

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

Analyst Ratings Changes

Several analysts have recently issued reports on NFLX shares. Citigroup reaffirmed a “market perform” rating on shares of Netflix in a report on Monday, August 17th. Sanford C. Bernstein set a $95.00 target price on shares of Netflix and gave the company an “outperform” rating in a report on Friday, July 17th. JPMorgan Chase & Co. decreased their price target on shares of Netflix from $118.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Oppenheimer set a $85.00 price objective on shares of Netflix and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, Seaport Research Partners cut shares of Netflix from a “buy” rating to a “neutral” rating in a research note on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.19.

Insider Activity

In other news, insider David A. Hyman sold 5,723 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $72.85, for a total value of $416,920.55. Following the transaction, the insider directly owned 316,100 shares in the company, valued at approximately $23,027,885. This represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $75.79, for a total transaction of $700,905.92. Following the completion of the transaction, the chief financial officer directly owned 73,787 shares in the company, valued at $5,592,316.73. This represents a 11.14% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 600,295 shares of company stock valued at $49,056,671. Insiders own 1.24% of the company’s stock.

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.