Kimelman & Baird LLC Buys New Position in Netflix, Inc. $NFLX

Kimelman & Baird LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 79,823 shares of the Internet television network's stock, valued at approximately $5,699,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Imprint Wealth LLC bought a new stake in shares of Netflix during the 3rd quarter worth $25,000. Wealth Watch Advisors INC bought a new position in Netflix in the third quarter valued at $103,000. Strategic Wealth Investment Group LLC bought a new position in Netflix in the second quarter valued at $121,000. Wiser Advisor Group LLC purchased a new stake in Netflix during the third quarter valued at about $114,000. Finally, Beaird Harris Wealth Management LLC raised its position in Netflix by 9.6% during the third 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 in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NFLX. Guggenheim set a $75.00 price objective on Netflix and gave the stock a "buy" rating in a report on Friday, July 17th. Seaport Research Partners cut Netflix from a "buy" rating to a "neutral" rating in a report on Monday, July 20th. UBS Group reduced their price target on shares of Netflix from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, July 17th. Piper Sandler reissued an "overweight" rating and set a $85.00 price target (down from $115.00) on shares of Netflix in a research note on Friday, July 17th. Finally, Rosenblatt Securities set a $75.00 price objective on shares of Netflix and gave the stock a "neutral" rating in a report on Friday, July 17th. Four equities 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.19.

Key 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

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 27,312 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $73.54, for a total value of $2,008,524.48. Following the sale, the chief executive officer directly owned 120,931 shares of the company's stock, valued at $8,893,265.74. This trade represents a 18.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Spencer Adam Neumann sold 9,248 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $75.79, for a total value of $700,905.92. Following the transaction, the chief financial officer owned 73,787 shares in the company, valued at approximately $5,592,316.73. This represents a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 600,295 shares of company stock worth $49,056,671. 1.24% of the stock is currently owned by insiders.

Netflix Stock Performance

NASDAQ:NFLX opened at $81.72 on Friday. 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, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $126.71. The firm has a market cap 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. The business has a 50 day moving average price of $74.65 and a 200-day moving average price of $84.33.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS 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 company had revenue of $12.56 billion for the quarter, compared to the consensus estimate of $12.58 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

Netflix Company 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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