Kimelman & Baird LLC Raises Holdings in Netflix, Inc. $NFLX

Kimelman & Baird LLC boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2,251.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,823 shares of the Internet television network’s stock after acquiring an additional 76,428 shares during the quarter. Kimelman & Baird LLC’s holdings in Netflix were worth $5,699,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NFLX. Imprint Wealth LLC purchased a new position in Netflix during the third quarter worth about $25,000. Wealth Watch Advisors INC purchased a new stake in shares of Netflix in the 3rd quarter valued at approximately $103,000. Strategic Wealth Investment Group LLC purchased a new stake in shares of Netflix in the 2nd quarter valued at approximately $121,000. Wiser Advisor Group LLC purchased a new stake in shares of Netflix in the 3rd quarter valued at approximately $114,000. Finally, Beaird Harris Wealth Management LLC lifted its holdings in shares of Netflix by 9.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock worth $137,000 after acquiring an additional 10 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 27,312 shares of Netflix stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $73.54, for a total value of $2,008,524.48. Following the completion of the transaction, the chief executive officer directly owned 120,931 shares in the company, valued at approximately $8,893,265.74. This trade represents a 18.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 9,248 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $75.79, for a total value of $700,905.92. Following the transaction, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at $5,592,316.73. The trade was a 11.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 600,295 shares of company stock valued at $49,056,671. 1.24% of the stock is owned by company insiders.

Trending Headlines about Netflix

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 Price Performance

Shares of NFLX opened at $81.72 on Friday. The company has a market cap of $340.28 billion, a P/E ratio of 25.72, a PEG ratio of 1.00 and a beta of 1.52. Netflix, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $126.71. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average price is $74.65 and its 200 day moving average price is $84.33.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating the consensus estimate of $0.79 by $0.01. The company 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 revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 EPS. On average, research analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NFLX. Barclays dropped their target price on shares of Netflix from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Friday, July 17th. Citigroup restated a “market perform” rating on shares of Netflix in a research note on Monday, August 17th. Wolfe Research restated an “outperform” rating and set a $95.00 price target (up from $84.00) on shares of Netflix in a research report on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and issued a $90.00 price objective (down from $115.00) on shares of Netflix in a research note on Tuesday, July 14th. Finally, Guggenheim set a $75.00 price objective on Netflix and gave the company a “buy” rating 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 company’s stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $103.19.

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.