Acumen Wealth Advisors LLC Buys 24,489 Shares of Netflix, Inc. $NFLX

Key Points

• Acumen Wealth Advisors LLC sharply increased its Netflix stake in the first quarter, buying 24,489 additional shares and lifting its position by 3,252.2% to 25,242 shares worth about $2.43 million.
• Institutional ownership remains heavy, with several other funds also adding to their Netflix holdings and institutions controlling 80.93% of the company’s stock.
• Netflix reported quarterly earnings of $0.80 per share, slightly above estimates, while revenue rose 13.4% year over year; however, analysts are mixed, with the stock carrying an average Moderate Buy rating and an average target price of $104.21.

Acumen Wealth Advisors LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3,252.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,242 shares of the Internet television network's stock after acquiring an additional 24,489 shares during the period. Acumen Wealth Advisors LLC's holdings in Netflix were worth $2,427,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC raised its holdings in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after buying an additional 144 shares during the period. Sivia Capital Partners LLC lifted its stake in Netflix by 21.2% in the second quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network's stock valued at $1,883,000 after buying an additional 246 shares in the last quarter. Strategic Investment Advisors MI lifted its stake in Netflix by 18.9% in the second quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network's stock valued at $1,036,000 after buying an additional 123 shares in the last quarter. Finally, Schnieders Capital Management LLC. boosted its holdings in shares of Netflix by 12.1% in the second quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network's stock valued at $2,832,000 after buying an additional 228 shares during the period. Institutional investors own 80.93% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NFLX. Stephens started coverage on shares of Netflix in a report on Friday. They set an "overweight" rating on the stock. Pivotal Research lowered their target price on Netflix from $96.00 to $70.00 and set a "hold" rating for the company in a report on Friday, July 17th. BMO Capital Markets downgraded Netflix from an "outperform" rating to a "market perform" rating in a research note on Monday. Barclays dropped their price target on Netflix from $85.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Friday, July 17th. Finally, Moffett Nathanson reduced their price objective on Netflix from $120.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 17th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $104.21.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix delivered an earnings beat and continues to post double-digit revenue growth, while bulls argue the selloff has made the stock look inexpensive on earnings and cash flow. Netflix “Is Not a Broken Company” and Trades At Just 19x Earnings. Jim Cramer Says Start Buying
• Positive Sentiment: Several analysts and commentators say the post-earnings drop may have created a buying opportunity, citing Netflix’s ad business, live content ambitions, international growth, and strong free-cash-flow potential. Netflix (NFLX) Stock Still Looks Cheap On Cash Flow And Earnings
• Positive Sentiment: Phillip Securities upgraded Netflix from “moderate buy” to “strong-buy,” with one analyst saying engagement shows no signs of slowing and setting a higher price target than the current trading level. Netflix, Inc. (NFLX) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Wall Street coverage remains active and largely mixed-to-bullish, with some reports pointing to meaningful upside in consensus price targets even after the recent slide. Netflix Fell 45% Over 12 Months But This Ratings House Sees A Doubling Share Price
• Negative Sentiment: Investors are worried about softer revenue guidance, slowing growth momentum, and Netflix making viewership metrics harder to track, which raises questions about transparency and future monetization. Netflix (NFLX) Could Be 18% Undervalued After Soft Guidance Raised Fresh Growth Questions
• Negative Sentiment: Multiple articles described the stock’s recent action as a sharp post-earnings crash or “miserable stretch,” reflecting concern that the latest quarter did not convince investors that growth will reaccelerate soon. Netflix just made its slowdown harder to measure

Insider Transactions at Netflix

In other Netflix news, Director Bradford L. Smith sold 35,990 shares of the business'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 transaction, the director owned 79,690 shares of the company's stock, valued at $6,177,568.80. The trade was a 31.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore A. Sarandos sold 27,312 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total value of $2,402,636.64. Following the sale, the chief executive officer owned 284,804 shares in the company, valued at approximately $25,054,207.88. This represents a 8.75% 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 90 days, insiders sold 899,839 shares of company stock valued at $80,141,661. 1.24% of the stock is owned by insiders.

Netflix Stock Up 1.6%

Shares of NFLX stock opened at $68.67 on Wednesday. The firm's fifty day moving average price is $79.42 and its two-hundred day moving average price is $86.49. The company has a current ratio of 1.14, a quick ratio of 1.41 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a 1 year low of $65.08 and a 1 year high of $126.71. The firm has a market capitalization of $285.94 billion, a P/E ratio of 21.61, a PEG ratio of 0.85 and a beta of 1.52.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $12.56 billion during the quarter, compared to analysts' expectations 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 last year, the company earned $0.72 EPS. On average, equities analysts predict that Netflix, Inc. will post 3.6 EPS for the current fiscal year.

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.

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