Netflix, Inc. $NFLX Position Boosted by WNY Asset Management LLC

WNY Asset Management LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 801.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,346 shares of the Internet television network’s stock after acquiring an additional 19,868 shares during the quarter. WNY Asset Management LLC’s holdings in Netflix were worth $1,596,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NFLX. BlackRock Inc. acquired a new position in shares of Netflix during the second quarter valued at $24,902,221,000. State Street Corp lifted its holdings in Netflix by 927.6% in the fourth quarter. State Street Corp now owns 176,780,995 shares of the Internet television network’s stock worth $16,574,986,000 after purchasing an additional 159,578,053 shares during the period. Geode Capital Management LLC lifted its holdings in Netflix by 892.0% in the fourth quarter. Geode Capital Management LLC now owns 99,598,678 shares of the Internet television network’s stock worth $9,305,336,000 after purchasing an additional 89,558,684 shares during the period. Capital World Investors grew its position in Netflix by 859.1% in the 4th quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock valued at $8,376,656,000 after buying an additional 80,025,890 shares in the last quarter. Finally, Morgan Stanley grew its position in Netflix by 903.0% in the 4th quarter. Morgan Stanley now owns 85,349,973 shares of the Internet television network’s stock valued at $8,002,414,000 after buying an additional 76,840,318 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $79.84 on Friday. Netflix, Inc. has a twelve month low of $65.08 and a twelve 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. The firm has a 50-day moving average of $74.56 and a two-hundred day moving average of $84.35. The company has a market capitalization of $332.45 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.02 and a beta of 1.52.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.58 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 27,312 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $73.54, for a total transaction of $2,008,524.48. Following the completion of the sale, the chief executive officer directly owned 120,931 shares of the company’s stock, valued at $8,893,265.74. This represents a 18.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Theodore A. Sarandos sold 105,850 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $73.03, for a total value of $7,730,225.50. Following the completion of the transaction, the chief executive officer owned 206,266 shares of the company’s stock, valued at $15,063,605.98. This trade represents a 33.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 600,295 shares of company stock worth $49,056,671. Corporate insiders own 1.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on NFLX. Weiss Ratings downgraded shares of Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 26th. Piper Sandler reiterated an “overweight” rating and issued a $85.00 price objective (down from $115.00) on shares of Netflix in a report on Friday, July 17th. Phillip Securities upgraded shares of Netflix from a “moderate buy” rating to a “strong-buy” rating in a research note on Sunday, July 19th. Stephens initiated coverage on Netflix in a report on Friday, July 17th. They set an “overweight” rating on the stock. Finally, Barclays dropped their target price on Netflix from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.19.

Key Netflix News

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

Netflix Company Profile

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.