Netflix, Inc. $NFLX Stock Sold by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 89.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,670 shares of the Internet television network’s stock after selling 82,406 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Netflix were worth $673,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NFLX. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Netflix during the second quarter worth $26,000. Compound Global Advisors LLC acquired a new stake in Netflix during the second quarter valued at $29,000. Burnham & Co LLC acquired a new stake in Netflix during the second quarter valued at $29,000. Merkkuri Wealth Advisors LLC acquired a new stake in Netflix during the first quarter valued at $31,000. Finally, Bayban increased its holdings in Netflix by 400.0% in the first quarter. Bayban now owns 350 shares of the Internet television network’s stock valued at $34,000 after buying an additional 280 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other news, CEO Gregory Peters sold 27,312 shares of the business’s 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. The trade was a 18.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Theodore Sarandos sold 27,312 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $73.35, for a total transaction of $2,003,335.20. Following the transaction, the chief executive officer owned 178,954 shares of the company’s stock, valued at approximately $13,126,275.90. This trade represents a 13.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders have sold 179,045 shares of company stock valued at $13,132,194. Corporate insiders own 1.24% of the company’s stock.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Jefferies upgraded Netflix (NFLX) to “strong buy,” citing potential support from pricing increases and advertising growth. Wedbush also maintained an “outperform” rating, although it lowered its price target to $90 from $105. Netflix stock gets bullish analyst call
• Positive Sentiment: Options activity is signaling expectations for a substantial post-earnings move, while sentiment remains bullish in some derivatives markets. Technical analysts also see a possible double-bottom pattern, with a break above $83.60 potentially opening a path toward $102.12. Barchart Netflix earnings outlook
• Neutral Sentiment: Netflix is replacing Chief Content Officer Bela Bajaria with former Disney and Fox executive Peter Rice. His experience across scripted programming, live sports, unscripted content and theatrical distribution could help Netflix develop new hits, but the abrupt change before earnings highlights pressure to improve engagement. Netflix appoints Peter Rice
• Negative Sentiment: Netflix announced plans to eliminate about 1,000 jobs, or 6% of its workforce, one day before the content-chief transition. Although the cuts may improve efficiency, investors viewed them as evidence of a sharper growth reset and concerns about the company’s content strategy. Netflix shares under pressure after content chief departure
• Negative Sentiment: Pre-earnings concerns include slowing viewership, rising churn, declining engagement and intensifying competition. Analysts also warn that Netflix’s premium valuation leaves little room for disappointing guidance, while options traders anticipate a move that could take the stock toward a two-year low. Netflix Q3 earnings outlook

Netflix Stock Performance

NASDAQ:NFLX opened at $70.53 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14. The company has a fifty day moving average of $75.17 and a two-hundred day moving average of $80.66. The stock has a market capitalization of $293.68 billion, a PE ratio of 22.20, a P/E/G ratio of 1.00 and a beta of 1.62. Netflix, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $124.86.

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, beating the consensus estimate of $0.79 by $0.01. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The business had revenue of $12.56 billion for the quarter, compared to the consensus estimate of $12.58 billion. During the same period last year, the firm posted $0.72 earnings per share. The company’s revenue was up 13.4% compared to the same quarter last year. As a group, research analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NFLX. Barclays set a $70.00 price objective on shares of Netflix and gave the company an “equal weight” rating in a report on Wednesday, October 7th. Piper Sandler reissued an “overweight” rating and set a $85.00 target price (down from $115.00) on shares of Netflix in a research note on Friday, July 17th. Robert W. Baird set a $90.00 target price on shares of Netflix and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Seaport Research Partners lowered Netflix from a “buy” rating to a “neutral” rating in a research note on Monday, July 20th. Finally, Rothschild & Co Redburn reduced their price target on Netflix from $120.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.82.

Netflix Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming services. Its platform offers a broad selection of television series, films, documentaries, stand-up specials and other programming, including content produced by Netflix and licensed from third-party studios and creators.

The company also develops and distributes original productions under the Netflix brand and has expanded into additional entertainment offerings, including mobile and cloud-based games in select markets and live programming.