83,375 Netflix, Inc. $NFLX Shares Sold by Accuvest Global Advisors

Key Points

• Accuvest Global Advisors reduced its Netflix stake by 54.5%, selling 83,375 shares in the third quarter and retaining 69,536 shares valued at about $4.84 million.
• Netflix reported quarterly EPS of $0.87, topping the $0.82 consensus estimate, while revenue of $12.87 billion matched expectations and rose 11.9% year over year.
• Analyst sentiment remains a “Moderate Buy,” with an average price target of $89.14, though several firms recently downgraded the stock or lowered their targets.

Accuvest Global Advisors cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 54.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,536 shares of the Internet television network's stock after selling 83,375 shares during the period. Netflix makes up 3.6% of Accuvest Global Advisors' portfolio, making the stock its 10th biggest position. Accuvest Global Advisors' holdings in Netflix were worth $4,838,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd purchased a new position in Netflix during the 2nd quarter valued at approximately $26,000. Pathway Financial Advisers LLC purchased a new stake in Netflix during the third quarter valued at $26,000. Sawyer & Company Inc purchased a new stake in Netflix during the third quarter valued at $27,000. Compound Global Advisors LLC bought a new position in Netflix during the second quarter valued at $29,000. Finally, Burnham & Co LLC bought a new position in Netflix during the second quarter valued at $29,000. 80.93% of the stock is currently owned by institutional investors.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix ordered Other Worlds: A Stranger Things Adventure, a live-action prequel series. Extending a popular franchise could support viewer engagement, though the financial impact and timing are not yet clear. Article: Stranger Things prequel series
• Positive Sentiment: A valuation analysis argues NFLX could be undervalued, estimating about 23% upside to fair value. This offers a counterpoint to recent weakness, but is an analyst view rather than a company announcement. Article: Netflix stock fair-value analysis
• Neutral Sentiment: CEO Ted Sarandos and CFO Spencer Neumann disclosed share sales, but the transactions were made to cover tax withholding on vested equity awards. That stated purpose makes them a less clear signal about management’s view of the stock. Article: Netflix insider share sales
• Negative Sentiment: Coverage noted NFLX slipping even with the new Stranger Things plans, suggesting the content announcement has not eased near-term selling pressure. The shares are also near their 52-week low and far below their 52-week high, reflecting a weak recent trend. Article: Netflix stock slips despite new Stranger Things plans

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $63.41 on Monday. The company has a market capitalization of $260.38 billion, a PE ratio of 18.33, a P/E/G ratio of 0.93 and a beta of 1.62. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. Netflix, Inc. has a 12-month low of $61.39 and a 12-month high of $116.73. The business's fifty day simple moving average is $71.03 and its 200-day simple moving average is $80.97.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.05. The firm had revenue of $12.87 billion during the quarter, compared to analysts' expectations of $12.87 billion. Netflix had a return on equity of 42.69% and a net margin of 29.69%. The firm's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 EPS. As a group, equities research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research reports. China Renaissance reduced their target price on shares of Netflix from $100.00 to $80.00 and set a "hold" rating on the stock in a report on Friday, July 17th. Huber Research cut shares of Netflix from a "buy" rating to an "underweight" rating in a research report on Tuesday, October 13th. KGI Securities downgraded shares of Netflix from an "outperform" rating to a "neutral" rating and set a $75.00 price target for the company. in a report on Friday, July 17th. Weiss Ratings lowered Netflix from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. Finally, Wells Fargo & Company lowered Netflix from a "neutral" rating to an "underweight" rating and lowered their price objective for the company from $80.00 to $57.00 in a research note on Friday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $89.14.

Insider Transactions at Netflix

In other Netflix news, Director Richard N. Barton sold 720 shares of the firm's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $75.27, for a total value of $54,194.40. Following the transaction, the director owned 2,460 shares in the company, valued at approximately $185,164.20. This trade represents a 22.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore A. Sarandos sold 27,312 shares of the firm's stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $66.20, for a total value of $1,808,054.40. Following the completion of the transaction, the chief executive officer owned 178,954 shares in the company, valued at $11,846,754.80. The trade was a 13.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 61,712 shares of company stock valued at $4,051,144. Insiders own 1.24% of the company's stock.

About Netflix

Netflix, Inc is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand.

Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.

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.