Netflix, Inc. $NFLX Stake Lowered by Cassia Capital Partners LLC

Cassia Capital Partners LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 70.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,546 shares of the Internet television network’s stock after selling 10,924 shares during the period. Cassia Capital Partners LLC’s holdings in Netflix were worth $316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new position in Netflix in the second quarter valued at approximately $24,902,221,000. State Street Corp raised its position in shares of Netflix by 4.9% during the 2nd quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock valued at $12,861,252,000 after acquiring an additional 8,474,820 shares during the last quarter. Bank of America Corp DE raised its position in shares of Netflix by 4.3% during the 1st quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network’s stock valued at $5,571,201,000 after acquiring an additional 2,376,349 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Netflix during the 2nd quarter valued at $1,906,482,000. Finally, Legal & General Group Plc bought a new stake in shares of Netflix during the 2nd quarter valued at $1,886,526,000. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

Shares of NFLX stock opened at $63.26 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.43. Netflix, Inc. has a 12-month low of $61.39 and a 12-month high of $116.73. The firm has a fifty day moving average of $70.32 and a 200-day moving average of $80.76. The firm has a market capitalization of $259.77 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 0.94 and a beta of 1.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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 business had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.87 billion. Netflix had a return on equity of 42.69% and a net margin of 29.69%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. On average, equities research analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current year.

Insider Transactions at Netflix

In other news, CEO Theodore A. Sarandos sold 27,312 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $66.20, for a total transaction of $1,808,054.40. Following the sale, the chief executive officer owned 178,954 shares of the company’s stock, valued at $11,846,754.80. This trade represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory K. Peters sold 27,312 shares of Netflix stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $63.62, for a total value of $1,737,589.44. Following the transaction, the chief executive officer owned 119,412 shares in the company, valued at $7,596,991.44. This trade represents a 18.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 89,024 shares of company stock valued at $5,788,733. Insiders own 1.24% of the company’s stock.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix’s EMEA revenue grew 11% year over year in the third quarter. Management says sustaining that growth in Europe will depend partly on preserving creative freedom amid regulation. Article: Netflix boss says creativity and regulation are not happy bedfellows in Europe
• Neutral Sentiment: Netflix launched an international campaign using 35mm film, supported by a social series about creatives’ viewing tastes. The campaign may support brand engagement, but its financial impact is unclear. Article: Netflix embraces 35mm film in international campaign
• Neutral Sentiment: A report described November short interest as totaling zero shares, with a 0.0-day days-to-cover ratio. That figure does not indicate meaningful short positioning, despite the report’s claim of a large increase.
• Negative Sentiment: Investor confidence remains a concern: coverage cites slowing Netflix growth and evidence that viewers are watching less. A content leadership shake-up is among management’s steps to address the challenge, but the concerns weigh on the growth outlook. Article: Why Netflix Stock Plunged 11% in October
• Negative Sentiment: Netflix also declined amid weakness across entertainment stocks. Coverage linked the sector’s reaction to concerns about the film outlook and debt at the newly combined Warner Bros.–Paramount, though it characterized Netflix and Disney as relatively less affected. Article: Skydance Sinks as Warner Bros. Film Slump Overshadows Earnings Beat

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NFLX. Pivotal Research reissued a “hold” rating and issued a $65.00 price target (down from $70.00) on shares of Netflix in a research note on Wednesday, October 21st. Robert W. Baird set a $90.00 price objective on Netflix and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Moffett Nathanson reiterated a “buy” rating and issued a $90.00 price objective on shares of Netflix in a report on Wednesday, October 21st. KeyCorp cut their target price on Netflix from $92.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th. Finally, Deutsche Bank Aktiengesellschaft set a $93.00 target price on Netflix in a research note on Wednesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.14.

Netflix Company 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.