Independence Bank of Kentucky Sells 18,285 Shares of Netflix, Inc. $NFLX

Key Points

• Independence Bank of Kentucky reduced its Netflix stake by 20.8%, selling 18,285 shares and retaining 69,796 shares valued at approximately $4.86 million. Institutional investors collectively own 80.93% of Netflix.
• Netflix insiders sold 197,025 shares worth about $14.28 million over the past three months, including CEO Ted Sarandos’s 105,850-share sale; the transactions were made under Rule 10b5-1 plans to cover tax obligations.
• Analysts maintain a generally positive view, with Netflix carrying a “Moderate Buy” consensus rating and an average price target of $89.14. However, concerns over weaker growth guidance, reduced advertising-revenue expectations and declining engagement have pressured the stock.

Independence Bank of Kentucky trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 20.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,796 shares of the Internet television network's stock after selling 18,285 shares during the period. Independence Bank of Kentucky's holdings in Netflix were worth $4,856,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Nykredit A S acquired a new stake in shares of Netflix in the 2nd quarter valued at $105,697,000. Rockland Trust Co. raised its position in shares of Netflix by 27.5% in the 3rd quarter. Rockland Trust Co. now owns 219,221 shares of the Internet television network's stock valued at $15,253,000 after acquiring an additional 47,339 shares during the period. Boomfish Wealth Group LLC boosted its position in shares of Netflix by 91.5% during the third quarter. Boomfish Wealth Group LLC now owns 34,547 shares of the Internet television network's stock worth $2,404,000 after purchasing an additional 16,510 shares in the last quarter. Welch & Forbes LLC lifted its holdings in Netflix by 3,464.5% during the first quarter. Welch & Forbes LLC now owns 118,448 shares of the Internet television network's stock worth $11,389,000 after acquiring an additional 115,125 shares in the last quarter. Finally, USS Investment Management Ltd lifted its holdings in shares of Netflix by 31.8% during the 1st quarter. USS Investment Management Ltd now owns 886,527 shares of the Internet television network's stock valued at $85,244,000 after purchasing an additional 213,972 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Insider Activity

In other news, CEO Theodore A. Sarandos sold 105,850 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $73.03, for a total transaction of $7,730,225.50. Following the completion of the sale, the chief executive officer directly owned 206,266 shares of the company's stock, valued at $15,063,605.98. The trade was a 33.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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, insider David A. Hyman sold 5,723 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total value of $416,920.55. Following the completion of the sale, 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 197,025 shares of company stock worth $14,283,453. Company insiders own 1.24% of the company's stock.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of research reports. Stephens initiated coverage on Netflix in a report on Friday, July 17th. They issued an "overweight" rating on the stock. Guggenheim decreased their price objective on Netflix from $80.00 to $78.00 and set a "buy" rating for the company in a report on Wednesday, October 21st. Argus set a $95.00 target price on Netflix and gave the company a "buy" rating in a research report on Thursday, October 22nd. Evercore restated an "outperform" rating and issued a $90.00 target price on shares of Netflix in a research note on Wednesday, October 21st. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $80.00 target price (down from $95.00) on shares of Netflix in a research note on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus target price of $89.14.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix exceeded third-quarter earnings expectations, reporting $0.87 in EPS versus the $0.82 consensus estimate. Revenue of $12.87 billion matched forecasts and increased 11.9% year over year. Record margins and improving economics provide fundamental support for the shares. Netflix Just Posted a Record Margin. So Why Is Wall Street Panicking?
• Positive Sentiment: Some research argues that Netflix’s wider margins, international revenue growth and disciplined economics could create a long-term opportunity, even as near-term engagement metrics weaken. Netflix: Not Winning On Attention, Winning On Economics
• Neutral Sentiment: Director Bradford Smith sold 17,980 shares for approximately $1.15 million under a pre-arranged Rule 10b5-1 trading plan. The sale reduces his holdings by 18.4%, but the planned nature of the transaction limits its significance as a signal about management’s outlook. Netflix Director SEC Filing
• Negative Sentiment: The main catalyst for the selloff is weak fourth-quarter revenue guidance and an implied full-year growth rate of roughly 13%. Investors viewed the outlook as insufficient despite the EPS beat, while Netflix also reduced its 2026 advertising-revenue outlook to approximately $2 billion.
• Negative Sentiment: Concerns that Netflix is losing watch-hour share and cultural relevance have raised questions about its ability to sustain subscriber engagement in its mature U.S. market. Management acknowledged that U.S. engagement can improve, adding to worries about competition from short-form video and artificial intelligence. Netflix Stock Falls on Report That Viewers Watch Less
• Negative Sentiment: Wall Street analysts have lowered their assessments, with Needham moving Netflix to Hold, Wolfe Research to Peer Perform, and UBS, Piper Sandler and Rosenblatt trimming price targets. The downgrades reinforce the view that the stock’s prior valuation assumed faster growth. Needham Downgrades Netflix

Netflix Stock Performance

NFLX opened at $62.52 on Wednesday. Netflix, Inc. has a 52-week low of $62.48 and a 52-week high of $116.73. The firm has a market cap of $256.73 billion, a P/E ratio of 18.07 and a beta of 1.62. The business's fifty day moving average is $73.71 and its 200-day moving average is $81.99.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.05. The business had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.87 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. The business's revenue was up 11.9% on a year-over-year basis. On average, research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Netflix Company Profile

Netflix, Inc NASDAQ: NFLX is a global entertainment company that provides subscription-based streaming services. Its platform offers a broad selection of television series, films, documentaries, stand-up specials and other programming, including content produced by Netflix and licensed from third-party studios and creators.

The company also develops and distributes original productions under the Netflix brand and has expanded into additional entertainment offerings, including mobile and cloud-based games in select markets and live programming.

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