Netflix, Inc. $NFLX Stock Position Increased by Bowie Capital Management LLC

Bowie Capital Management LLC increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,151,860 shares of the Internet television network’s stock after purchasing an additional 174,603 shares during the period. Netflix accounts for about 4.1% of Bowie Capital Management LLC’s holdings, making the stock its 8th biggest position. Bowie Capital Management LLC’s holdings in Netflix were worth $110,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Financial Corp IN raised its holdings in shares of Netflix by 900.0% in the fourth quarter. First Financial Corp IN now owns 270 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 243 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its position in Netflix by 885.2% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 266 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 239 shares during the last quarter. Turning Point Benefit Group Inc. boosted its position in Netflix by 13,400.0% during the fourth quarter. Turning Point Benefit Group Inc. now owns 270 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 268 shares during the last quarter. Imprint Wealth LLC purchased a new stake in Netflix in the 3rd quarter worth approximately $25,000. Finally, Cornerstone Financial Management LLC purchased a new stake in Netflix in the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Negative Sentiment: Netflix’s Q2 results beat EPS expectations, but revenue came in slightly below consensus and management signaled growth could slow to around 12% in Q3, raising concerns about momentum. Netflix Has Plummeted Over the Past Year and Just Dropped Again on Earnings. At 22 Times Profits, Is It a Buy?
• Negative Sentiment: Investors are also reacting to a “valuation reset” and weaker transparency after Netflix said it will report key viewership metrics less often, making it harder to measure progress. Is Netflix Asking Investors To Trust A Story It Will No Longer Tell?
• Negative Sentiment: The selloff has been amplified by bearish calls and articles arguing that sentiment remains weak, with some analysts saying the stock still has room to fall despite the recent drop. ‘Scratching the Surface,’ Says Top Investor About Netflix Stock
• Negative Sentiment: Netflix also completed a $1 billion senior notes offering to refinance debt, which is financially prudent but may reinforce the market’s focus on capital structure rather than growth. Netflix Issues $1 Billion Senior Notes to Refinance Debt

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $68.53 on Thursday. The firm has a market capitalization of $285.35 billion, a PE ratio of 21.57, a P/E/G ratio of 0.86 and a beta of 1.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.41. The business has a 50-day moving average of $79.04 and a two-hundred day moving average of $86.31. Netflix, Inc. has a 12 month low of $65.08 and a 12 month high of $126.71.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, beating 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 business had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.58 billion. During the same period in the previous year, the company posted $0.72 EPS. 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 year.

Insider Transactions at Netflix

In other news, CEO Theodore A. Sarandos sold 27,312 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $87.97, for a total value of $2,402,636.64. Following the completion of the sale, the chief executive officer owned 284,804 shares of the company’s stock, valued at $25,054,207.88. This represents a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Reed Hastings sold 407,550 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $93.13, for a total transaction of $37,955,131.50. Following the completion of the transaction, the director directly owned 3,940 shares in the company, valued at approximately $366,932.20. This represents a 99.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 899,839 shares of company stock valued at $80,141,661 in the last three months. 1.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NFLX shares. Robert W. Baird set a $90.00 price target on Netflix and gave the stock an “outperform” rating in a research note on Wednesday. Bank of America reiterated a “buy” rating and issued a $125.00 target price on shares of Netflix in a research note on Monday, May 18th. JPMorgan Chase & Co. decreased their price target on Netflix from $118.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Phillip Securities upgraded shares of Netflix from a “moderate buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Barclays lowered 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. Four research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $103.48.

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.