Netflix, Inc. $NFLX Stock: First Citizens Bank & Trust Co. Increases Stake

First Citizens Bank & Trust Co. boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 10.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 269,252 shares of the Internet television network’s stock after buying an additional 25,612 shares during the period. First Citizens Bank & Trust Co.’s holdings in Netflix were worth $18,735,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Merkkuri Wealth Advisors LLC purchased a new position in Netflix in the 1st quarter worth approximately $31,000. Bayban boosted its stake in Netflix by 400.0% in the 1st quarter. Bayban now owns 350 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 280 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in Netflix in the 2nd quarter worth approximately $26,000. Bank of New Hampshire grew its holdings in Netflix by 900.0% during the 4th quarter. Bank of New Hampshire now owns 380 shares of the Internet television network’s stock valued at $36,000 after buying an additional 342 shares in the last quarter. Finally, Compound Global Advisors LLC purchased a new stake in Netflix during the 2nd quarter valued at approximately $29,000. 80.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NFLX shares. Wedbush lowered their target price on shares of Netflix from $118.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. CICC Research dropped their target price on shares of Netflix from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, July 21st. KeyCorp cut their target price on shares of Netflix from $92.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday. Moffett Nathanson reduced their price target on shares of Netflix from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Finally, Pivotal Research reduced their price target on shares of Netflix from $96.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $94.53.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix secured exclusive rights to broadcast the 2030 FIFA World Cup in Spain and Andorra, potentially strengthening engagement and subscriber retention in an important international market. Netflix lands 2030 World Cup rights
• Positive Sentiment: Some analysts and investors view the selloff as an opportunity: Netflix remains highly profitable, continues to grow revenue, and trades at roughly 22 times trailing earnings—well below its historical valuation. KeyCorp maintained an overweight rating despite lowering its price target from $92 to $85. Investor sees Netflix as a buying opportunity
• Neutral Sentiment: Netflix is scheduled to report third-quarter results on October 20. Investors will focus on whether the company can meet its roughly 12% revenue-growth outlook, sustain free-cash-flow generation, and provide evidence that advertising and new content investments are improving results. Netflix earnings and free cash flow preview
• Negative Sentiment: Huber Research issued a rare double downgrade, moving Netflix from Buy to Sell and cutting its price target. Other coverage also highlighted slowing viewership, rising content costs, competitive pressure from YouTube and concerns about profit margins ahead of earnings. Netflix receives double downgrade
• Negative Sentiment: Growth is decelerating in Netflix’s largest market: U.S. and Canada revenue growth slowed to 10% and represented approximately 43% of second-quarter revenue. Investors are questioning whether international growth can offset weaker performance at home. Netflix regional growth concerns
• Negative Sentiment: Reports that Netflix may pursue its largest workforce reduction in four years reinforce concerns that management is responding to weaker growth and investor skepticism.

Insiders Place Their Bets

In other Netflix news, Director Richard Barton sold 720 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $75.27, for a total value of $54,194.40. Following the completion of the sale, the director directly owned 2,460 shares in the company, valued at $185,164.20. This trade represents a 22.64% decrease in their ownership of the stock. The sale 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, insider David Hyman sold 5,723 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total value of $416,920.55. Following the transaction, the insider owned 316,100 shares in the company, valued at approximately $23,027,885. This trade represents a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 179,045 shares of company stock worth $13,132,194. Insiders own 1.24% of the company’s stock.

Netflix Stock Performance

NFLX stock opened at $70.46 on Wednesday. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $124.86. The business’s fifty day simple moving average is $75.34 and its two-hundred day simple moving average is $81.03. The firm has a market cap of $293.39 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.00 and a beta of 1.62. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The company had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

Netflix Company Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that operates a subscription-based streaming service. It offers a broad range of television series, films, documentaries, and other programming, including original productions developed under the Netflix brand and licensed content from third-party studios.

The company also provides advertising-supported viewing options in some markets and has expanded into related entertainment categories, including mobile and cloud-based games, live programming, and consumer products associated with selected titles.