Sycale Advisors NY LLC Buys New Holdings in Netflix, Inc. $NFLX

Sycale Advisors NY LLC purchased a new position in Netflix, Inc. (NASDAQ:NFLX) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 138,373 shares of the Internet television network’s stock, valued at approximately $13,305,000. Netflix accounts for approximately 6.6% of Sycale Advisors NY LLC’s holdings, making the stock its 8th biggest position.

Other institutional investors also recently bought and sold shares of the company. Pacific Sun Financial Corp increased its stake in shares of Netflix by 1.6% in the third quarter. Pacific Sun Financial Corp now owns 574 shares of the Internet television network’s stock worth $688,000 after acquiring an additional 9 shares during the period. Beaird Harris Wealth Management LLC lifted its position in Netflix by 9.6% during the third quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock valued at $137,000 after purchasing an additional 10 shares during the period. Monograph Wealth Advisors LLC lifted its position in Netflix by 1.8% during the second quarter. Monograph Wealth Advisors LLC now owns 682 shares of the Internet television network’s stock valued at $913,000 after purchasing an additional 12 shares during the period. Resources Management Corp CT ADV boosted its holdings in Netflix by 2.0% in the second quarter. Resources Management Corp CT ADV now owns 829 shares of the Internet television network’s stock valued at $1,110,000 after purchasing an additional 16 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. boosted its holdings in Netflix by 1.4% in the second quarter. Sompo Asset Management Co. Ltd. now owns 1,500 shares of the Internet television network’s stock valued at $2,009,000 after purchasing an additional 20 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NFLX shares. TD Cowen reduced their price objective on Netflix from $112.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Stephens initiated coverage on Netflix in a research note on Friday, July 17th. They issued an “overweight” rating on the stock. KeyCorp reaffirmed an “overweight” rating and set a $92.00 target price (down from $115.00) on shares of Netflix in a report on Monday, July 13th. Barclays reduced their price target on Netflix from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, July 17th. Finally, China Renaissance boosted their price target on Netflix from $90.00 to $100.00 and gave the company a “hold” rating in a report on Friday, April 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.48.

Netflix News Roundup

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 Trading Down 0.2%

NFLX stock opened at $68.53 on Thursday. The company’s 50-day simple moving average is $79.04 and its 200-day simple moving average is $86.31. The company has a quick ratio of 1.41, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a 52-week low of $65.08 and a 52-week high of $126.71. The firm has a market cap of $285.35 billion, a P/E ratio of 21.57, a PEG ratio of 0.86 and a beta of 1.52.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results 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. The firm had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.Netflix’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 EPS. As a group, equities analysts forecast that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bradford L. Smith sold 35,990 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total transaction of $2,789,944.80. Following the completion of the transaction, the director directly owned 79,690 shares of the company’s stock, valued at $6,177,568.80. This represents a 31.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Reed Hastings sold 386,700 shares of the 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 transaction, the director owned 3,940 shares in the company, valued at $338,721.80. This trade represents a 98.99% 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. Insiders sold 899,839 shares of company stock valued at $80,141,661 in the last 90 days. Corporate insiders own 1.24% of the company’s stock.

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.