First Merchants Corp Increases Stock Position in Netflix, Inc. $NFLX

Key Points

• First Merchants Corp dramatically boosted its Netflix stake in the first quarter, increasing its position by 1,312.6% to 39,129 shares worth about $3.76 million.
• Netflix continues to draw mixed investor sentiment: several institutions increased holdings, but insiders sold shares and analysts remain split, with the stock carrying a Moderate Buy consensus target of $114.26.
• Business updates were mostly positive, including an expanded video podcast partnership with iHeartMedia and the purchase of a “Hot Ones” spinoff, though concerns remain about missed acquisition opportunities and recent stock weakness.

First Merchants Corp raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1,312.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,129 shares of the Internet television network's stock after acquiring an additional 36,359 shares during the quarter. First Merchants Corp's holdings in Netflix were worth $3,762,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Brighton Jones LLC increased its holdings in Netflix by 5.0% during 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 lifted its holdings in Netflix by 16.4% in 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 grew its position 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 worth $1,883,000 after buying an additional 246 shares during the last quarter. Strategic Investment Advisors MI grew its position 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 worth $1,036,000 after buying an additional 123 shares during the last quarter. Finally, Schnieders Capital Management LLC. grew its position in shares of Netflix by 12.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network's stock worth $2,832,000 after buying an additional 228 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix expanded its video podcast partnership with iHeartMedia, adding more iHeartPodcasts as video shows on the platform and strengthening its content offering. Netflix Expands Video Podcast Partnership with iHeartMedia
• Positive Sentiment: Netflix bought a “Hot Ones” spinoff, a content deal that reinforces its rivalry with YouTube and supports its push into popular creator-driven programming. Netflix Buys a ‘Hot Ones’ Spinoff
• Neutral Sentiment: Some commentary argues Netflix may look undervalued after the recent selloff, with analysts still seeing upside if the business continues to execute. Is Netflix Inc (NFLX) a Bargain After 5.8% Drop? GF Value Says Undervalued
• Negative Sentiment: Investor sentiment was hurt by reports that Netflix was outbid or passed over on major acquisition targets, fueling concern that the company is missing strategic growth opportunities. After Missing Out on Roku, Netflix Claims It Won't Buy Lionsgate. Here's Why the Market Hates That Answer.
• Negative Sentiment: Analysts and market commentators warned against “catching the falling knife,” reflecting concern that NFLX could remain under pressure after breaking to new lows. Netflix Stock Slump Continues: Citizens JMP Warns Against Catching the Falling Knife

Netflix Stock Performance

Shares of NFLX stock opened at $72.88 on Tuesday. Netflix, Inc. has a 12 month low of $71.81 and a 12 month high of $134.12. The stock has a market cap of $306.88 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 0.98 and a beta of 1.50. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.43. The company's fifty day moving average price is $88.30 and its 200-day moving average price is $89.75.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The Internet television network reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.47. Netflix had a net margin of 28.52% and a return on equity of 40.92%. The company had revenue of $12.25 billion during the quarter, compared to analysts' expectations of $12.17 billion. During the same period last year, the company posted $6.61 EPS. Netflix's revenue was up 16.2% on a year-over-year basis. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. On average, equities analysts expect that Netflix, Inc. will post 3.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Reed Hastings sold 386,700 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $85.97, for a total transaction of $33,244,599.00. Following the completion of the transaction, the director directly owned 3,940 shares in the company, valued at $338,721.80. This trade represents a 98.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory K. Peters sold 27,312 shares of the company's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $88.69, for a total transaction of $2,422,301.28. Following the completion of the transaction, the chief executive officer owned 120,931 shares in the company, valued at approximately $10,725,370.39. The trade was a 18.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,349,019 shares of company stock worth $123,105,721 over the last three months. Corporate insiders own 1.24% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on NFLX shares. Seaport Research Partners raised their price target on Netflix from $115.00 to $119.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. TD Cowen reissued a "buy" rating on shares of Netflix in a research report on Thursday, May 14th. Moffett Nathanson decreased their price objective on shares of Netflix from $120.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, June 17th. The Goldman Sachs Group cut shares of Netflix from a "neutral" rating to an "underweight" rating in a research report on Thursday. Finally, Citizens Jmp reaffirmed a "market perform" rating on shares of Netflix in a research note on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $114.26.

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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