Security National Bank of SO Dak Buys 12,105 Shares of Netflix, Inc. $NFLX

Security National Bank of SO Dak increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 462.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,725 shares of the Internet television network’s stock after purchasing an additional 12,105 shares during the period. Security National Bank of SO Dak’s holdings in Netflix were worth $1,051,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Netflix during the 2nd quarter valued at $24,902,221,000. Geode Capital Management LLC boosted its stake in shares of Netflix by 892.0% in the 4th quarter. Geode Capital Management LLC now owns 99,598,678 shares of the Internet television network’s stock worth $9,305,336,000 after buying an additional 89,558,684 shares during the last quarter. Capital World Investors grew its holdings in shares of Netflix by 859.1% in the fourth quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock worth $8,376,656,000 after acquiring an additional 80,025,890 shares during the period. Norges Bank bought a new stake in shares of Netflix in the fourth quarter worth $5,803,248,000. Finally, Invesco Ltd. grew its holdings 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 worth $4,075,062,000 after acquiring an additional 38,818,947 shares during the period. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Pivotal Research lowered their target price on Netflix from $96.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, July 17th. KGI Securities downgraded Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 price target for the company. in a research note on Friday, July 17th. Weiss Ratings lowered shares of Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 26th. TD Cowen lowered their price objective on shares of Netflix from $112.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Finally, Wolfe Research reissued an “outperform” rating and issued a $95.00 price objective (up from $84.00) on shares of Netflix in a report on Tuesday, August 25th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.99.

Netflix Stock Performance

Netflix stock traded down $3.52 during midday trading on Friday, hitting $71.79. The stock had a trading volume of 114,250,501 shares, compared to its average volume of 43,057,676. The firm’s fifty day moving average is $75.85 and its two-hundred day moving average is $84.21. The company has a market capitalization of $298.93 billion, a PE ratio of 22.60, a P/E/G ratio of 1.08 and a beta of 1.53. Netflix, Inc. has a 52-week low of $65.08 and a 52-week high of $124.86. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39.

Netflix (NASDAQ:NFLX) last issued 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 business had revenue of $12.56 billion for the quarter, compared to the consensus estimate of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, research analysts forecast that Netflix, Inc. will post 3.59 EPS for the current year.

Key Headlines Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Some analysts and investors remain constructive. Evercore reportedly views the selloff as a potential entry point, while Bill Ackman’s Pershing Square recently established a Netflix position. Supporters point to Netflix’s expanding advertising business, aggressive share repurchases and history of recovering from major downturns. Evercore wants investors to buy Netflix stock
• Positive Sentiment: Netflix continues to pursue growth through advertising, live events, sports and international programming. The company also signed a new global original-content production agreement with Studio Dragon, which could expand its content pipeline. Netflix live sports strategy
• Neutral Sentiment: Netflix joined Amazon and YouTube in forming the Streaming Access and Choice Alliance, a coalition seeking technology-neutral rules for streaming and live-sports distribution. The initiative may help shape future regulation but is unlikely to materially affect near-term results. Netflix joins streaming policy coalition
• Negative Sentiment: Wells Fargo analyst Steven Cahall said second-half viewership could decline about 4%, while viewing of Netflix’s Top 100 original titles may fall more than 20%. The bank warned that fewer breakout hits, rising churn risk and weaker engagement could pressure revenue growth, margins and the valuation multiple. Netflix downgraded by Wells Fargo
• Negative Sentiment: Coverage also highlights competitive concerns relative to Disney, whose diversified businesses, content slate and streaming profitability are viewed more favorably. Analysts argue Netflix needs another breakout franchise comparable to Squid Game and may be too focused on new formats and podcasts rather than must-watch programming. Netflix and Disney streaming competition

Insider Activity

In other news, Director Richard Barton sold 720 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $75.27, for a total transaction of $54,194.40. Following the sale, the director directly owned 2,460 shares in the company, valued at $185,164.20. This trade represents a 22.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory Peters sold 27,312 shares of Netflix stock in a transaction on 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 transaction, the chief executive officer owned 120,931 shares in the company, valued at approximately $8,893,265.74. This trade represents a 18.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 179,045 shares of company stock worth $13,132,194. 1.24% of the stock is currently owned by insiders.

Netflix Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming access to television series, films, documentaries and other video content. Its service includes Netflix-produced and licensed programming, with offerings that may vary by market. The company also provides an advertising-supported plan in selected countries and has expanded into mobile games and other interactive entertainment.

Netflix was founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental service in the United States.