Netflix, Inc. $NFLX Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 27.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 749,512 shares of the Internet television network's stock after purchasing an additional 160,555 shares during the period. Netflix comprises 0.6% of Kingsview Wealth Management LLC's investment portfolio, making the stock its 28th biggest position. Kingsview Wealth Management LLC's holdings in Netflix were worth $53,515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Netflix in the 2nd quarter valued at about $24,902,221,000. State Street Corp lifted its stake in shares of Netflix by 927.6% in the 4th quarter. State Street Corp now owns 176,780,995 shares of the Internet television network's stock valued at $16,574,986,000 after purchasing an additional 159,578,053 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Netflix by 892.0% during the fourth 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 acquiring an additional 89,558,684 shares during the last quarter. Capital World Investors lifted its holdings in shares of Netflix by 859.1% in the 4th quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network's stock worth $8,376,656,000 after acquiring an additional 80,025,890 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Netflix by 685.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 86,058,878 shares of the Internet television network's stock worth $8,068,882,000 after purchasing an additional 75,107,069 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

More 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

Analyst Ratings Changes

Several research firms recently issued reports on NFLX. Phillip Securities upgraded Netflix from a "moderate buy" rating to a "strong-buy" rating in a report on Sunday, July 19th. Raymond James Financial reaffirmed a "market perform" rating on shares of Netflix in a research report on Thursday, May 14th. Robert W. Baird set a $90.00 price target on shares of Netflix and gave the company an "outperform" rating in a research note on Wednesday, July 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $85.00 price objective (down from $115.00) on shares of Netflix in a report on Friday, July 17th. Finally, CLSA began coverage on Netflix in a report on Monday, July 20th. They issued an "outperform" rating for the company. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Netflix has a consensus rating of "Moderate Buy" and an average price target of $103.19.

Netflix Trading Up 2.4%

Shares of Netflix stock opened at $81.72 on Friday. The firm has a market cap of $340.28 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 1.00 and a beta of 1.52. The company's 50-day simple moving average is $74.65 and its 200-day simple moving average is $84.33. 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.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating the consensus estimate of $0.79 by $0.01. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The business had revenue of $12.56 billion during the quarter, compared to analysts' expectations of $12.58 billion. During the same period last year, the firm earned $0.72 EPS. The company's quarterly revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Netflix, Inc. will post 3.59 earnings per share for the current year.

Insider Activity at Netflix

In other news, CEO Theodore A. Sarandos sold 27,312 shares of the business's 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 sale, the chief executive officer owned 178,954 shares of the company's stock, valued at $13,126,275.90. The trade was a 13.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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, insider David A. Hyman sold 5,723 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $72.85, for a total value of $416,920.55. Following the completion of the transaction, the insider directly owned 316,100 shares of the company's stock, valued at $23,027,885. The trade was a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 600,295 shares of company stock worth $49,056,671. 1.24% of the stock is currently owned by company insiders.

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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