Kingsview Wealth Management LLC Raises Stock Holdings in Netflix, Inc. $NFLX

Key Points

• Kingsview Wealth Management sharply increased its Netflix position by 1,019.5% in the fourth quarter, ending with 516,210 shares valued at about $48.4 million.
• Other major institutional investors also boosted holdings, including Vanguard, Geode Capital, and Baillie Gifford, and institutions now own about 80.93% of Netflix shares.
• Netflix reported strong quarterly results, with EPS of $1.23 beating estimates and revenue rising 16.2% year over year, while analysts currently rate the stock a Moderate Buy with a consensus price target of $114.82.

Kingsview Wealth Management LLC increased its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1,019.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 516,210 shares of the Internet television network's stock after acquiring an additional 470,099 shares during the period. Netflix makes up about 0.7% of Kingsview Wealth Management LLC's portfolio, making the stock its 29th biggest holding. Kingsview Wealth Management LLC's holdings in Netflix were worth $48,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Netflix by 912.5% in the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network's stock worth $36,567,805,000 after acquiring an additional 351,493,659 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Netflix by 892.0% during the 4th quarter. Geode Capital Management LLC now owns 99,598,678 shares of the Internet television network's stock valued at $9,305,336,000 after buying an additional 89,558,684 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of Netflix by 912.3% during the 4th quarter. Baillie Gifford & Co. now owns 36,940,035 shares of the Internet television network's stock valued at $3,463,498,000 after buying an additional 33,290,988 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Netflix by 639.9% during the 4th quarter. Jennison Associates LLC now owns 34,871,951 shares of the Internet television network's stock valued at $3,269,594,000 after buying an additional 30,158,900 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Netflix by 916.1% during the 4th quarter. Legal & General Group Plc now owns 26,522,252 shares of the Internet television network's stock valued at $2,486,726,000 after buying an additional 23,912,151 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NFLX. Sanford C. Bernstein reiterated a "buy" rating on shares of Netflix in a research note on Thursday, May 14th. DZ Bank reiterated a "buy" rating on shares of Netflix in a research note on Friday, April 17th. Huber Research upgraded Netflix from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $98.00 to $100.00 and gave the company a "hold" rating in a research note on Tuesday, April 14th. Finally, Guggenheim reiterated a "buy" rating and set a $120.00 price objective on shares of Netflix in a research note on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $114.82.

Insider Activity at Netflix

In other news, insider David A. Hyman sold 5,722 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $88.08, for a total transaction of $503,993.76. Following the transaction, the insider directly owned 316,100 shares in the company, valued at $27,842,088. The trade was a 1.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Adam Neumann sold 9,253 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $88.95, for a total value of $823,054.35. Following the transaction, the chief financial officer owned 73,787 shares in the company, valued at approximately $6,563,353.65. This represents a 11.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,422,769 shares of company stock worth $135,144,073 in the last quarter. Corporate insiders own 1.24% of the company's stock.

Netflix Price Performance

Shares of Netflix stock opened at $87.35 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.43. Netflix, Inc. has a twelve month low of $75.01 and a twelve month high of $134.12. The business has a 50-day moving average price of $93.45 and a 200 day moving average price of $93.59. The firm has a market cap of $367.81 billion, a PE ratio of 28.21, a P/E/G ratio of 1.11 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The Internet television network reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.47. Netflix had a return on equity of 40.92% and a net margin of 28.52%.The firm had revenue of $12.25 billion during the quarter, compared to analyst estimates of $12.17 billion. During the same quarter in the previous year, the business earned $6.61 EPS. Netflix's revenue for the quarter was up 16.2% compared to the same quarter last year. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. Sell-side analysts predict that Netflix, Inc. will post 3.6 earnings per share for the current fiscal year.

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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