Glenview Trust Co Acquires Shares of 16,330 Netflix, Inc. $NFLX

Glenview Trust Co acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 16,330 shares of the Internet television network's stock, valued at approximately $1,570,000.

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

Netflix News Summary

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

Insider Buying and Selling

In related news, CEO Theodore A. Sarandos sold 27,312 shares of Netflix stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $73.35, for a total transaction of $2,003,335.20. Following the completion of the transaction, the chief executive officer directly owned 178,954 shares in the company, valued at $13,126,275.90. The trade was a 13.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $75.79, for a total value of $700,905.92. Following the completion of the sale, the chief financial officer directly owned 73,787 shares in the company, valued at approximately $5,592,316.73. The trade was a 11.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 600,295 shares of company stock valued at $49,056,671. 1.24% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on NFLX. CLSA started coverage on Netflix in a report on Monday, July 20th. They issued an "outperform" rating for the company. Deutsche Bank Aktiengesellschaft set a $110.00 price target on shares of Netflix in a report on Monday, July 20th. TD Cowen reduced their price objective on shares of Netflix from $112.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 17th. Wedbush decreased their price objective on shares of Netflix from $118.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, July 17th. Finally, The Goldman Sachs Group lowered shares of Netflix from an "underweight" rating to a "sell" rating in a research report on Monday, July 20th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and an average target price of $103.19.

Netflix Trading Up 2.4%

NASDAQ:NFLX opened at $81.72 on Friday. Netflix, Inc. has a 52-week low of $65.08 and a 52-week high of $126.71. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The stock has a fifty day simple moving average of $74.65 and a 200-day simple moving average of $84.33. The company has a market capitalization of $340.28 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.00 and a beta of 1.52.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating analysts' consensus estimates 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 period in the prior year, the company earned $0.72 EPS. The firm's revenue was up 13.4% on a year-over-year basis. On average, equities research analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

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.

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