Weitz Investment Management Inc. Invests $10.51 Million in Netflix, Inc. $NFLX

Weitz Investment Management Inc. bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the second quarter, Holdings Channel reports. The fund bought 147,200 shares of the Internet television network’s stock, valued at approximately $10,510,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NFLX. Vanguard Group Inc. boosted its stake in shares of Netflix by 912.5% in the fourth quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock worth $36,567,805,000 after buying an additional 351,493,659 shares during the last quarter. BlackRock Inc. acquired a new stake in Netflix during the second quarter worth about $24,902,221,000. State Street Corp raised its position in Netflix by 927.6% during the fourth quarter. State Street Corp now owns 176,780,995 shares of the Internet television network’s stock valued at $16,574,986,000 after acquiring an additional 159,578,053 shares in the last quarter. 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 valued at $9,305,336,000 after acquiring an additional 89,558,684 shares during the period. Finally, Capital World Investors lifted its holdings in Netflix by 859.1% in the fourth quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock valued at $8,376,656,000 after acquiring an additional 80,025,890 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Down 0.7%

NFLX stock opened at $79.59 on Friday. The stock has a market capitalization of $331.41 billion, a P/E ratio of 25.05, a P/E/G ratio of 1.00 and a beta of 1.52. The firm has a 50-day simple moving average of $74.39 and a 200-day simple moving average of $84.34. 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, Inc. has a 52 week low of $65.08 and a 52 week high of $126.71.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data 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 return on equity of 40.02% and a net margin of 28.22%.The company had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. During the same period in the previous year, the firm posted $0.72 EPS. Netflix’s revenue was up 13.4% compared to the same quarter last year. Equities analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix continues to grow faster than many streaming rivals, and its lower valuation after the selloff could provide significant upside if revenue, advertising and engagement trends remain strong. A valuation model described the current setup as potentially asymmetric in investors’ favor. Netflix Is Down 40% From Its All-Time High Could Netflix Stock Double From Here?
• Positive Sentiment: JPMorgan analyst Doug Anmuth maintained an Overweight rating and an $85 price target, citing Netflix’s content pipeline and multiple initiatives to support engagement and revenue growth. The view suggests potential upside from current levels, although the analyst sees no single catalyst guaranteeing acceleration. Netflix Has No Single Silver Bullet
• Positive Sentiment: Netflix’s advertising-supported tier and broad content offering could make the company relatively resilient during a recession, as consumers may retain lower-cost entertainment subscriptions even amid economic pressure. Which Streaming Stock Would Hold Up Better in a Recession?
• Neutral Sentiment: Representatives for Meghan of Sussex reportedly held exploratory discussions about a possible role in a third season of The Gentlemen. Netflix has not ordered the season, so the potential casting has no immediate financial impact. Meghan of Sussex Eyes Role in Netflix Show The Gentlemen
• Negative Sentiment: With Netflix no longer emphasizing subscriber numbers, investors must rely more heavily on revenue growth, advertising performance, engagement and profitability metrics. That makes it harder to assess momentum and contributes to debate over whether the stock’s decline reflects a bargain or slowing growth. Netflix Is Down 40% From Its All-Time High
• Negative Sentiment: YouTube is reportedly offering creators substantial payments and warning that simultaneous Netflix deals could jeopardize marketing support and brand-campaign revenue. This could intensify competition for exclusive content and creator attention. YouTube Offers Creators Millions to Avoid Netflix Deals

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 9,248 shares of Netflix stock in a transaction on Monday, August 10th. The shares were sold at an average price of $75.79, for a total transaction of $700,905.92. Following the sale, the chief financial officer owned 73,787 shares of the company’s stock, valued at $5,592,316.73. The trade was a 11.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 27,312 shares of the stock in a transaction dated Thursday, August 6th. The shares were 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 owned 120,931 shares of the company’s stock, valued at $8,893,265.74. This trade represents a 18.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 600,295 shares of company stock valued at $49,056,671 in the last three months. Company insiders own 1.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NFLX shares. Sanford C. Bernstein set a $95.00 price objective on shares of Netflix and gave the stock an “outperform” rating in a research note on Friday, July 17th. Citigroup reiterated a “market perform” rating on shares of Netflix in a research note on Monday, August 17th. Raymond James Financial reissued a “market perform” rating on shares of Netflix in a report on Thursday, May 14th. Barclays dropped their price target on shares of Netflix from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, July 17th. Finally, Wedbush decreased their price objective on shares of Netflix from $118.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Four 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 company. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $103.48.

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.