Netflix, Inc. $NFLX Position Boosted by Ashurst Perkins Coie Trust Co

Ashurst Perkins Coie Trust Co boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 82.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 42,529 shares of the Internet television network’s stock after acquiring an additional 19,223 shares during the period. Ashurst Perkins Coie Trust Co’s holdings in Netflix were worth $2,959,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NFLX. BlackRock Inc. acquired a new stake in Netflix in the 2nd quarter valued at approximately $24,902,221,000. Invesco Ltd. grew its stake in shares of Netflix by 835.9% in the fourth quarter. Invesco Ltd. now owns 43,462,696 shares of the Internet television network’s stock valued at $4,075,062,000 after buying an additional 38,818,947 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Netflix in the second quarter valued at $1,906,482,000. Legal & General Group Plc acquired a new stake in shares of Netflix in the second quarter valued at $1,886,526,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Netflix in the 2nd quarter valued at $1,481,303,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 0.2%

Netflix stock opened at $70.57 on Thursday. Netflix, Inc. has a 1-year low of $65.08 and a 1-year high of $124.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $293.85 billion, a PE ratio of 22.21, a P/E/G ratio of 0.99 and a beta of 1.62. The stock’s fifty day moving average is $75.27 and its two-hundred day moving average is $80.87.

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. Netflix had a return on equity of 40.02% and a net margin of 28.22%. The business had revenue of $12.56 billion for the quarter, compared to the consensus estimate of $12.58 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, sell-side analysts expect that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, Director Richard Barton sold 2,160 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $75.10, for a total value of $162,216.00. Following the completion of the transaction, the director directly owned 246 shares of the company’s stock, valued at $18,474.60. This represents a 89.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Neumann sold 9,248 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 73,787 shares in the company, valued at $5,592,316.73. This represents a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 179,045 shares of company stock valued at $13,132,194 over the last three months. 1.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NFLX has been the topic of several research reports. Guggenheim reissued a “buy” rating and set a $80.00 price target (up from $75.00) on shares of Netflix in a research report on Thursday, October 1st. UBS Group reduced their target price on shares of Netflix from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Phillip Securities upgraded shares of Netflix from a “moderate buy” rating to a “strong-buy” rating and set a $110.00 target price on the stock in a report on Sunday, July 19th. Oppenheimer set a $85.00 price target on shares of Netflix and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, New Street Research raised their price target on shares of Netflix from $96.00 to $102.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.41.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix plans to eliminate approximately 6% of its global workforce, primarily across product, technology, legal and human-resources functions. Management says the restructuring will improve discipline and redirect resources toward future investments, potentially supporting margins and efficiency. Netflix is laying off roughly 6% of its workforce
• Positive Sentiment: Some analysts and investors remain constructive, arguing that Netflix’s profitable operating model, international growth and ability to reinvent its business could make the recent selloff a buying opportunity. The shares trade at roughly 22 times trailing earnings. Forget Selling Netflix: NFLX Is the Streaming Stock I’m Buying More Of
• Positive Sentiment: Netflix secured exclusive rights to the 2030 FIFA World Cup in Spain and Andorra, offering a potential engagement and subscriber-acquisition catalyst. Netflix Stock Scores as It Lands 2030 World Cup Rights
• Neutral Sentiment: Investors will look to the October 20 earnings report for evidence that revenue growth, free cash flow and viewing trends are stabilizing. Analysts expect earnings growth, but recent estimates have been trimmed modestly. Netflix Is Set to Release Earnings on Oct. 20
• Negative Sentiment: The layoffs are also being interpreted as evidence that growth and user engagement have cooled. Reports cite stronger competition from YouTube and other streaming services, while Netflix seeks to keep audiences watching. Netflix to cut 1,000 jobs as growth concerns mount
• Negative Sentiment: App-tracking data reportedly showed a 16.6% increase in U.S. churn, adding to concerns about weaker domestic demand ahead of earnings. Netflix Has New Warning Signs Ahead of Q3 Earnings
• Negative Sentiment: Analyst downgrades and lower price targets reflect concerns about rising content costs, slowing viewership and whether cost-cutting alone can solve Netflix’s engagement problem. Netflix Stock Is Double Downgraded by Huber Research

About Netflix

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.