Netflix, Inc. $NFLX Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its position in Netflix, Inc. (NASDAQ:NFLX) by 26.6% during the 1st quarter, HoldingsChannel reports. The firm owned 5,593,167 shares of the Internet television network’s stock after selling 2,021,908 shares during the quarter. First Trust Advisors LP’s holdings in Netflix were worth $537,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of NFLX. Marin Bay Wealth Advisors LLC boosted its position in shares of Netflix by 47.4% in the 1st quarter. Marin Bay Wealth Advisors LLC now owns 12,130 shares of the Internet television network’s stock valued at $1,096,000 after purchasing an additional 3,902 shares during the period. Insight Advisors LLC PA grew its holdings in shares of Netflix by 2.0% during the 1st quarter. Insight Advisors LLC PA now owns 24,639 shares of the Internet television network’s stock valued at $2,369,000 after acquiring an additional 485 shares in the last quarter. Westpac Banking Corp increased its stake in shares of Netflix by 1.8% in the first quarter. Westpac Banking Corp now owns 87,384 shares of the Internet television network’s stock worth $8,402,000 after acquiring an additional 1,566 shares during the last quarter. Fortis Capital Management LLC increased its stake in shares of Netflix by 3.2% in the first quarter. Fortis Capital Management LLC now owns 111,192 shares of the Internet television network’s stock worth $10,691,000 after acquiring an additional 3,409 shares during the last quarter. Finally, Meiji Yasuda America Inc raised its holdings in shares of Netflix by 80.0% during the first quarter. Meiji Yasuda America Inc now owns 28,512 shares of the Internet television network’s stock worth $2,741,000 after acquiring an additional 12,672 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Up 1.6%

Shares of Netflix stock opened at $68.67 on Wednesday. The stock has a market cap of $285.94 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 0.85 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 business has a fifty day simple moving average of $79.42 and a 200 day simple moving average of $86.49. The company has a quick ratio of 1.41, 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 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The business had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. Research analysts predict that Netflix, Inc. will post 3.6 EPS for the current year.

Insider Activity

In other Netflix news, Director Reed Hastings sold 386,700 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $85.97, for a total transaction of $33,244,599.00. Following the transaction, the director owned 3,940 shares of the company’s stock, valued at $338,721.80. The trade was a 98.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Adam Neumann sold 9,253 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $88.95, for a total transaction of $823,054.35. Following the completion of the transaction, the chief financial officer directly owned 73,787 shares in the company, valued at $6,563,353.65. The trade was a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 899,839 shares of company stock worth $80,141,661. 1.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of several analyst reports. Erste Group Bank lowered shares of Netflix from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Phillip Securities upgraded shares of Netflix from a “moderate buy” rating to a “strong-buy” rating in a research note on Sunday. KGI Securities cut Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 price target for the company. in a report on Friday. Sanford C. Bernstein set a $95.00 price objective on shares of Netflix and gave the stock an “outperform” rating in a report on Friday. Finally, UBS Group decreased their price target on Netflix from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $104.21.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix delivered an earnings beat and continues to post double-digit revenue growth, while bulls argue the selloff has made the stock look inexpensive on earnings and cash flow. Netflix “Is Not a Broken Company” and Trades At Just 19x Earnings. Jim Cramer Says Start Buying
• Positive Sentiment: Several analysts and commentators say the post-earnings drop may have created a buying opportunity, citing Netflix’s ad business, live content ambitions, international growth, and strong free-cash-flow potential. Netflix (NFLX) Stock Still Looks Cheap On Cash Flow And Earnings
• Positive Sentiment: Phillip Securities upgraded Netflix from “moderate buy” to “strong-buy,” with one analyst saying engagement shows no signs of slowing and setting a higher price target than the current trading level. Netflix, Inc. (NFLX) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Wall Street coverage remains active and largely mixed-to-bullish, with some reports pointing to meaningful upside in consensus price targets even after the recent slide. Netflix Fell 45% Over 12 Months But This Ratings House Sees A Doubling Share Price
• Negative Sentiment: Investors are worried about softer revenue guidance, slowing growth momentum, and Netflix making viewership metrics harder to track, which raises questions about transparency and future monetization. Netflix (NFLX) Could Be 18% Undervalued After Soft Guidance Raised Fresh Growth Questions
• Negative Sentiment: Multiple articles described the stock’s recent action as a sharp post-earnings crash or “miserable stretch,” reflecting concern that the latest quarter did not convince investors that growth will reaccelerate soon. Netflix just made its slowdown harder to measure

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.