Netflix, Inc. $NFLX Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 27.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 749,512 shares of the Internet television network’s stock after acquiring an additional 160,555 shares during the period. Netflix comprises approximately 0.6% of Kingsview Wealth Management LLC’s holdings, making the stock its 28th biggest holding. Kingsview Wealth Management LLC’s holdings in Netflix were worth $53,515,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC grew its position in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after acquiring an additional 144 shares during the period. Sivia Capital Partners LLC increased its stake in Netflix by 21.2% during the second quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network’s stock worth $1,883,000 after acquiring an additional 246 shares during the last quarter. Strategic Investment Advisors MI increased its stake in Netflix by 18.9% during the second quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network’s stock worth $1,036,000 after acquiring an additional 123 shares during the last quarter. Finally, Schnieders Capital Management LLC. increased its stake in Netflix by 12.1% during the second quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network’s stock worth $2,832,000 after acquiring an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, Director Reed Hastings sold 386,700 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $85.97, for a total value of $33,244,599.00. Following the completion of the sale, the director directly owned 3,940 shares of the company’s stock, valued at approximately $338,721.80. This represents a 98.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore A. Sarandos sold 105,850 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $73.03, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 600,295 shares of company stock worth $49,056,671 in the last ninety days. 1.24% of the stock is currently owned by corporate insiders.

Netflix Trading Up 2.4%

Shares of NASDAQ NFLX opened at $81.72 on Friday. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $126.71. The company has a market cap of $340.28 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 1.00 and a beta of 1.52. 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 stock’s 50 day simple moving average is $74.65 and its 200 day simple moving average is $84.33.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NFLX shares. Rosenblatt Securities set a $75.00 price target on shares of Netflix and gave the company a “neutral” rating in a research report on Friday, July 17th. The Goldman Sachs Group downgraded Netflix from an “underweight” rating to a “sell” rating in a report on Monday, July 20th. CLSA assumed coverage on shares of Netflix in a research note on Monday, July 20th. They set an “outperform” rating on the stock. KGI Securities downgraded Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 price target for the company. in a research note on Friday, July 17th. Finally, Piper Sandler reissued 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. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.19.

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman’s Pershing Square reportedly added approximately 13.1 million Netflix shares, making NFLX one of the hedge fund’s new concentrated holdings. The move may bolster investor confidence in Netflix’s valuation and long-term earnings potential. Bill Ackman portfolio overhaul article
• Positive Sentiment: Analysts and market commentators point to Netflix’s rapidly expanding advertising business, a potential $3 billion advertising revenue opportunity, continued global expansion and margin growth as catalysts for a possible recovery toward $100 and beyond. Record share buybacks could further support earnings per share. Netflix stock price prediction article
• Positive Sentiment: Netflix is being described as an undervalued long-term holding, with bullish arguments centered on double-digit revenue growth, free-cash-flow generation and the ability to monetize live events and lower-priced ad-supported plans. Netflix five-year outlook article
• Neutral Sentiment: The Netflix preview of Grand Theft Auto VI attracted significant online attention and traffic, but the immediate stock-market beneficiary appears to be Take-Two Interactive, the game’s publisher, rather than Netflix. GTA 6 Netflix preview article
• Negative Sentiment: Some analysts argue that Netflix’s growth is moderating and that Alphabet offers stronger diversification, advertising exposure and valuation. Recent commentary also identifies resistance near $82 and muted enthusiasm following the latest earnings report. NFLX versus GOOGL article
• Negative Sentiment: Reported insider activity remains a potential overhang: executives and directors made numerous sales and no purchases over the past six months. Investors may interpret the selling as reduced insider conviction, although it may also reflect routine diversification. Netflix ad monetization and market resistance article

Netflix 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.