Netflix, Inc. $NFLX Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 194.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,111,438 shares of the Internet television network's stock after buying an additional 10,647,803 shares during the quarter. Netflix comprises 0.8% of Assenagon Asset Management S.A.'s investment portfolio, making the stock its 19th biggest position. Assenagon Asset Management S.A. owned about 0.39% of Netflix worth $1,121,034,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Netflix in the second quarter worth $26,000. Compound Global Advisors LLC purchased a new position in shares of Netflix in the second quarter valued at $29,000. Burnham & Co LLC purchased a new position in shares of Netflix in the second quarter valued at $29,000. Merkkuri Wealth Advisors LLC bought a new stake in shares of Netflix during the 1st quarter valued at $31,000. Finally, Bayban raised its stake in shares of Netflix by 400.0% during the 1st quarter. Bayban now owns 350 shares of the Internet television network's stock valued at $34,000 after purchasing an additional 280 shares during the period. 80.93% of the stock is owned by institutional investors.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Jefferies initiated coverage with a Buy rating and an $85 price target, citing potential revenue support from subscription-price increases and advertising. Netflix stock gets bullish analyst call ahead of next week's earnings
• Positive Sentiment: Netflix named former Disney and Fox executive Peter Rice as chief content officer, replacing Bela Bajaria. Rice’s experience could help Netflix improve its content strategy and viewer engagement as competition intensifies. Netflix names former Disney executive Rice as new content chief
• Neutral Sentiment: Netflix will release third-quarter results on October 20. Wall Street estimates for revenue, earnings and operating metrics may drive volatility as investors look for evidence that pricing, advertising and content investments are offsetting weaker engagement. Ahead of Netflix Q3 earnings
• Negative Sentiment: Netflix is eliminating roughly 1,000 positions, or 6% of its workforce, its largest reduction since 2022. Management described the move as a resource-allocation and efficiency effort, but investors may view it as evidence of slowing growth and pressure to control costs. Netflix is laying off roughly 6% of its workforce
• Negative Sentiment: Reports citing app data indicate U.S. churn has risen and viewing engagement has weakened. Those trends raise questions about Netflix’s ability to retain subscribers amid competition from other streaming services, YouTube and creator-led video. Netflix warning signs ahead of Q3 earnings

Insider Activity at Netflix

In related news, CEO Theodore A. Sarandos sold 105,850 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $73.03, for a total value of $7,730,225.50. Following the sale, the chief executive officer directly owned 206,266 shares of the company's stock, valued at $15,063,605.98. This trade represents a 33.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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, Director Richard N. Barton sold 2,160 shares of Netflix stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $75.10, for a total transaction of $162,216.00. Following the sale, the director owned 246 shares of the company's stock, valued at approximately $18,474.60. The trade was a 89.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 179,045 shares of company stock valued at $13,132,194 in the last ninety days. Insiders own 1.24% of the company's stock.

Netflix Price Performance

Netflix stock opened at $72.61 on Friday. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $124.86. The business has a 50-day simple moving average of $75.25 and a 200 day simple moving average of $80.73. 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 market cap of $302.34 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 1.00 and a beta of 1.62.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NFLX. Jefferies Financial Group set a $85.00 price objective on Netflix and gave the stock a "buy" rating in a report on Thursday. Wells Fargo & Company lowered Netflix from a "neutral" rating to an "underweight" rating and reduced their target price for the company from $80.00 to $57.00 in a report on Friday, September 18th. Pivotal Research decreased their price target on Netflix from $96.00 to $70.00 and set a "hold" rating on the stock in a research report on Friday, July 17th. Barclays set a $70.00 price target on shares of Netflix and gave the stock an "equal weight" rating in a report on Wednesday, October 7th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Netflix in a report on Tuesday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $94.41.

Netflix Profile

Netflix, Inc NASDAQ: NFLX is a global entertainment company that operates a subscription-based streaming service. It offers a broad range of television series, films, documentaries, and other programming, including original productions developed under the Netflix brand and licensed content from third-party studios.

The company also provides advertising-supported viewing options in some markets and has expanded into related entertainment categories, including mobile and cloud-based games, live programming, and consumer products associated with selected titles.

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