Beacon Pointe Advisors LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 54.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 287,167 shares of the Internet television network's stock after purchasing an additional 101,306 shares during the period. Beacon Pointe Advisors LLC's holdings in Netflix were worth $20,504,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after acquiring an additional 257 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after acquiring an additional 144 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Netflix by 21.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network's stock valued at $1,883,000 after purchasing an additional 246 shares in the last quarter. Strategic Investment Advisors MI boosted its stake in shares of Netflix by 18.9% in the 2nd quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network's stock valued at $1,036,000 after purchasing an additional 123 shares in the last quarter. Finally, Schnieders Capital Management LLC. grew its holdings in shares of Netflix by 12.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network's stock valued at $2,832,000 after purchasing an additional 228 shares during the last quarter. Institutional investors own 80.93% of the company's stock.
More 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 Stock Up 2.4%
NFLX stock opened at $81.72 on Friday. The business's 50-day moving average is $74.65 and its two-hundred day moving average is $84.33. The company has a market cap of $340.28 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 1.00 and a beta of 1.52. Netflix, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $126.71. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm had revenue of $12.56 billion for the quarter, compared to analysts' expectations of $12.58 billion. During the same quarter in the prior year, the business earned $0.72 EPS. The business's quarterly revenue was up 13.4% on a year-over-year basis. As a group, analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current year.
Insiders Place Their Bets
In related news, insider David A. Hyman sold 5,723 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $72.85, for a total value of $416,920.55. Following the completion of the transaction, the insider directly owned 316,100 shares of the company's stock, valued at approximately $23,027,885. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Adam Neumann sold 9,248 shares of the stock in a transaction on 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 of the company's stock, valued at $5,592,316.73. This trade represents a 11.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 600,295 shares of company stock worth $49,056,671 in the last three months. 1.24% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of brokerages have weighed in on NFLX. Rosenblatt Securities set a $75.00 target price on shares of Netflix and gave the company a "neutral" rating in a research report on Friday, July 17th. Wedbush dropped their price target on Netflix from $118.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. Pivotal Research dropped their price target on Netflix from $96.00 to $70.00 and set a "hold" rating on the stock in a report on Friday, July 17th. Jefferies Financial Group cut their price target on Netflix from $128.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, June 10th. Finally, UBS Group dropped their price objective on Netflix from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, July 17th. Four research 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $103.19.
Get Our Latest Stock Report on Netflix
About Netflix
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Free Report)
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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