Netflix, Inc. $NFLX Shares Newly Bought by B.A. Schrock Wealth Management Inc.

B.A. Schrock Wealth Management Inc. purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 84,706 shares of the Internet television network’s stock, valued at approximately $5,747,000. Netflix makes up approximately 1.9% of B.A. Schrock Wealth Management Inc.’s investment portfolio, making the stock its 17th biggest holding.

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

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of analyst reports. Moffett Nathanson lowered their price target on Netflix from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 17th. TD Cowen reiterated a “buy” rating and set a $100.00 price objective on shares of Netflix in a research report on Monday, October 5th. Wells Fargo & Company cut shares of Netflix from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $80.00 to $57.00 in a research note on Friday, September 18th. Bank of America cut their price target on shares of Netflix from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, July 17th. Finally, CLSA started coverage on shares of Netflix in a research report on Monday, July 20th. They issued an “outperform” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.41.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $70.57 on Thursday. The firm has a market cap of $293.85 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 0.99 and a beta of 1.62. The firm’s 50 day simple moving average is $75.27 and its 200-day simple moving average is $80.87. Netflix, Inc. has a one year low of $65.08 and a one year high of $124.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14.

Netflix (NASDAQ:NFLX) last posted 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 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 was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. As a group, equities analysts predict that Netflix, Inc. will post 3.59 EPS for the current year.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 5,723 shares of Netflix stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total transaction of $416,920.55. Following the completion of the sale, the insider directly owned 316,100 shares of the company’s stock, valued at $23,027,885. The trade was a 1.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Theodore A. Sarandos sold 105,850 shares of Netflix stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $73.03, for a total value of $7,730,225.50. Following the sale, the chief executive officer directly owned 206,266 shares of the company’s stock, valued at approximately $15,063,605.98. This trade represents a 33.91% decrease in their ownership of the stock. 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. Insiders have sold 179,045 shares of company stock valued at $13,132,194 over the last 90 days. 1.24% of the stock is owned by insiders.

Key Stories Impacting Netflix

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

Netflix Profile

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.