49 Wealth Management LLC Sells 13,166 Shares of Netflix, Inc. $NFLX

49 Wealth Management LLC decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 75.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,395 shares of the Internet television network's stock after selling 13,166 shares during the period. 49 Wealth Management LLC's holdings in Netflix were worth $314,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Imprint Wealth LLC bought a new stake in Netflix in the 3rd quarter worth about $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Netflix during the 2nd quarter worth $26,000. Atlas Capital Advisors Inc. bought a new stake in Netflix in the fourth quarter worth about $26,000. Finally, Jessup Wealth Management Inc purchased a new position in Netflix in the fourth quarter valued at approximately $27,000. Institutional investors own 80.93% of the company's stock.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman’s Pershing Square reportedly added approximately 13.1 million Netflix shares, making NFLX one of the hedge fund’s new concentrated holdings. The move may bolster investor confidence in Netflix’s valuation and long-term earnings potential. Bill Ackman portfolio overhaul article
• Positive Sentiment: Analysts and market commentators point to Netflix’s rapidly expanding advertising business, a potential $3 billion advertising revenue opportunity, continued global expansion and margin growth as catalysts for a possible recovery toward $100 and beyond. Record share buybacks could further support earnings per share. Netflix stock price prediction article
• Positive Sentiment: Netflix is being described as an undervalued long-term holding, with bullish arguments centered on double-digit revenue growth, free-cash-flow generation and the ability to monetize live events and lower-priced ad-supported plans. Netflix five-year outlook article
• Neutral Sentiment: The Netflix preview of Grand Theft Auto VI attracted significant online attention and traffic, but the immediate stock-market beneficiary appears to be Take-Two Interactive, the game’s publisher, rather than Netflix. GTA 6 Netflix preview article
• Negative Sentiment: Some analysts argue that Netflix’s growth is moderating and that Alphabet offers stronger diversification, advertising exposure and valuation. Recent commentary also identifies resistance near $82 and muted enthusiasm following the latest earnings report. NFLX versus GOOGL article
• Negative Sentiment: Reported insider activity remains a potential overhang: executives and directors made numerous sales and no purchases over the past six months. Investors may interpret the selling as reduced insider conviction, although it may also reflect routine diversification. Netflix ad monetization and market resistance article

Netflix Trading Up 2.4%

Shares of NASDAQ NFLX opened at $81.72 on Friday. The stock has a market capitalization of $340.28 billion, a P/E ratio of 25.72, a PEG ratio of 1.00 and a beta of 1.52. The business's 50 day moving average is $74.65 and its two-hundred day moving average is $84.33. Netflix, Inc. has a 1-year low of $65.08 and a 1-year high of $126.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14.

Netflix (NASDAQ:NFLX - Get Free Report) 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 analysts' consensus estimates of $0.79 by $0.01. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The company had revenue of $12.56 billion during the quarter, compared to analysts' expectations of $12.58 billion. During the same quarter in the previous year, the business earned $0.72 EPS. Netflix's revenue was up 13.4% compared to the same quarter last year. As a group, research analysts expect that Netflix, Inc. will post 3.59 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NFLX shares. Jefferies Financial Group reduced their price target on Netflix from $128.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, June 10th. Phillip Securities upgraded Netflix from a "moderate buy" rating to a "strong-buy" rating in a report on Sunday, July 19th. Seaport Research Partners cut Netflix from a "buy" rating to a "neutral" rating in a research note on Monday, July 20th. Barclays decreased their price objective on Netflix from $85.00 to $80.00 and set an "equal weight" rating for the company in a report on Friday, July 17th. Finally, CLSA started coverage on shares of Netflix in a research report on Monday, July 20th. They set an "outperform" rating for the company. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $103.19.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 9,248 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $75.79, for a total transaction of $700,905.92. Following the transaction, the chief financial officer owned 73,787 shares in the company, valued at $5,592,316.73. This represents a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Theodore A. Sarandos sold 27,312 shares of the firm's stock in a transaction that occurred on 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 directly owned 178,954 shares of the company's stock, valued at $13,126,275.90. This represents a 13.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last three months, insiders have sold 600,295 shares of company stock valued at $49,056,671. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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