Bank of New York Mellon Corp Has $2.60 Billion Stock Holdings in Netflix, Inc. $NFLX

Key Points

• Bank of New York Mellon trimmed its Netflix stake by 2.4% in the first quarter, but still held about 27.1 million shares valued at roughly $2.6 billion.
• Netflix reported a strong quarter, with EPS of $1.23 beating estimates and revenue of $12.25 billion topping forecasts, while revenue rose 16.2% year over year.
• Wall Street remains broadly constructive on the stock, with an average rating of “Moderate Buy” and an average price target of $111.29, though some analysts have recently turned more cautious.

Bank of New York Mellon Corp decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,082,031 shares of the Internet television network's stock after selling 670,052 shares during the period. Bank of New York Mellon Corp owned about 0.64% of Netflix worth $2,603,937,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Imprint Wealth LLC bought a new position in shares of Netflix during the third quarter valued at $25,000. Wealth Watch Advisors INC bought a new stake in shares of Netflix in the 3rd quarter worth about $103,000. Strategic Wealth Investment Group LLC acquired a new stake in shares of Netflix during the 2nd quarter worth about $121,000. Wiser Advisor Group LLC bought a new position in Netflix during the 3rd quarter valued at about $114,000. Finally, Beaird Harris Wealth Management LLC lifted its holdings in Netflix by 9.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network's stock valued at $137,000 after purchasing an additional 10 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 0.2%

Shares of NFLX opened at $73.67 on Thursday. The business's fifty day moving average price is $80.80 and its two-hundred day moving average price is $87.17. The firm has a market capitalization of $310.21 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 0.93 and a beta of 1.52. Netflix, Inc. has a 52 week low of $70.86 and a 52 week high of $127.75. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.41 and a current ratio of 1.41.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 16th. The Internet television network reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.47. Netflix had a return on equity of 40.92% and a net margin of 28.52%.The company had revenue of $12.25 billion during the quarter, compared to the consensus estimate of $12.17 billion. During the same quarter in the previous year, the company posted $6.61 earnings per share. The firm's quarterly revenue was up 16.2% on a year-over-year basis. On average, analysts predict that Netflix, Inc. will post 3.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Guggenheim reiterated a "buy" rating and issued a $120.00 target price on shares of Netflix in a research note on Wednesday. Erste Group Bank lowered Netflix from a "buy" rating to a "hold" rating in a research report on Monday, April 27th. Wolfe Research reaffirmed an "outperform" rating and set a $107.00 price target on shares of Netflix in a report on Friday, April 17th. Sanford C. Bernstein set a $100.00 price objective on Netflix and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Finally, The Goldman Sachs Group cut Netflix from a "neutral" rating to an "underweight" rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $111.29.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Investors are positioning for Netflix’s Q2 earnings, with some analysts and strategists still seeing upside if the company can show resilient subscriber growth, stronger ad revenue, and continued execution ahead of the report. All Eyes on Netflix Stock Ahead of Earnings; Here’s What Benchmark Expects
• Positive Sentiment: Netflix’s push into live sports is a potential growth catalyst, after it secured exclusive MLB Home Run Derby streaming rights, showing it is expanding beyond traditional scripted content to deepen engagement and add new revenue opportunities. Netflix (NFLX) Secures Exclusive MLB Home Run Derby Streaming Rights
• Positive Sentiment: Some bullish commentary argues the stock could rebound sharply if earnings surprise to the upside, with options activity implying a potentially large post-earnings move. Netflix's Q3 Earnings Report Could Lead to $21.5 Billion Swing in Market Value
• Neutral Sentiment: Wall Street remains focused on the same key issues into earnings: engagement trends, ad-tier monetization, content pipeline quality, and whether Netflix can justify its valuation after a steep decline from recent highs. Netflix's next growth chapter hinges on keeping viewers hooked
• Negative Sentiment: Investor concern is still being driven by slowing engagement, weaker viewer retention, and signs that Netflix may need to prove it can keep users hooked as competition from YouTube, traditional media, and mobile viewing intensifies. Netflix's next growth chapter hinges on keeping viewers hooked
• Negative Sentiment: Regulatory risk is also back in focus after criticism over rising subscription prices, which could add pressure if policymakers target streaming pricing or consumer practices. Your Netflix bill is up 29% in just over a year. It’s time for Washington to step in.

Insider Buying and Selling

In related news, Director Reed Hastings sold 407,550 shares of the company's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $93.13, for a total value of $37,955,131.50. Following the completion of the sale, the director owned 3,940 shares in the company, valued at $366,932.20. This represents a 99.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Adam Neumann sold 9,253 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $88.95, for a total value of $823,054.35. Following the sale, the chief financial officer directly owned 73,787 shares in the company, valued at $6,563,353.65. The trade was a 11.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 899,839 shares of company stock worth $80,141,661 over the last ninety days. Insiders own 1.24% of the company's stock.

About Netflix

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.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

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.