Netflix, Inc. $NFLX Shares Bought by Western Wealth Management LLC

Key Points

• Western Wealth Management increased its Netflix stake by 39.3% in the first quarter, bringing its holdings to 74,925 shares valued at $7.2 million. Institutional investors and hedge funds collectively own 80.93% of Netflix.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $103.48, although some firms recently downgraded or reduced their targets. Netflix shares opened at $73.17, well below their 52-week high of $126.71.
• Netflix slightly exceeded quarterly EPS expectations, reporting $0.80 versus the $0.79 consensus, while revenue rose 13.4% year over year to $12.56 billion. Meanwhile, CEO and CFO stock sales contributed to $42.2 million in insider selling during the quarter.

Western Wealth Management LLC boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 39.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 74,925 shares of the Internet television network's stock after buying an additional 21,135 shares during the quarter. Western Wealth Management LLC's holdings in Netflix were worth $7,204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Checchi Capital Advisers LLC grew its stake in shares of Netflix by 875.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 31,143 shares of the Internet television network's stock worth $2,920,000 after acquiring an additional 27,951 shares during the period. BNC Wealth Management LLC lifted its position in Netflix by 991.3% during the fourth quarter. BNC Wealth Management LLC now owns 41,229 shares of the Internet television network's stock valued at $3,866,000 after purchasing an additional 37,451 shares during the period. Crew Capital Management Ltd boosted its holdings in Netflix by 1,021.9% in the fourth quarter. Crew Capital Management Ltd now owns 9,031 shares of the Internet television network's stock worth $847,000 after purchasing an additional 8,226 shares during the last quarter. Family Capital Trust Co boosted its holdings in Netflix by 20,869.5% in the fourth quarter. Family Capital Trust Co now owns 27,470 shares of the Internet television network's stock worth $2,576,000 after purchasing an additional 27,339 shares during the last quarter. Finally, Vanguard Group Inc. grew its position 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 purchasing an additional 351,493,659 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein set a $95.00 price target on Netflix and gave the stock an "outperform" rating in a research note on Friday, July 17th. DZ Bank reiterated a "buy" rating on shares of Netflix in a research report on Friday, April 17th. Erste Group Bank downgraded Netflix from a "buy" rating to a "hold" rating in a report on Monday, April 27th. KGI Securities downgraded Netflix from an "outperform" rating to a "neutral" rating and set a $75.00 price target for the company. in a research note on Friday, July 17th. Finally, Wedbush cut their price target on Netflix from $118.00 to $105.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and an average price target of $103.48.

Netflix Price Performance

NASDAQ NFLX opened at $73.17 on Friday. The company has a market capitalization of $304.68 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 0.92 and a beta of 1.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14. The business's fifty day moving average is $77.00 and its 200 day moving average is $85.50. Netflix, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $126.71.

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 (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 analyst estimates of $12.58 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Netflix's revenue for the quarter was up 13.4% on a year-over-year basis. Sell-side analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix signed a reported $500 million global licensing agreement for “The Walking Dead” universe. The deal could support viewing engagement, subscriber retention and advertising revenue, although the content cost will weigh on near-term economics. Netflix lands global streaming deal for The Walking Dead
• Positive Sentiment: Netflix’s selective push into live programming is attracting subscribers and boosting engagement and advertising opportunities. The reported agreement to carry the 2027 FIFA Women’s World Cup in the United States and Canada could strengthen its live-content strategy, though the rights reportedly cost about $200 million. Netflix’s Live Content Push
• Positive Sentiment: Streaming continues to gain share of television viewing, and one analyst publicly recommended Netflix as an investment idea, offering some support for the long-term growth case. Netflix on CNBC’s Final Trades

Insider Activity at Netflix

In related news, CEO Theodore A. Sarandos sold 27,312 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $87.97, for a total value of $2,402,636.64. Following the completion of the sale, the chief executive officer directly owned 284,804 shares of the company's stock, valued at approximately $25,054,207.88. This represents a 8.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 firm'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 transaction of $823,054.35. Following the sale, the chief financial officer owned 73,787 shares in the company, valued at approximately $6,563,353.65. The trade was a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 492,289 shares of company stock worth $42,186,530 in the last quarter. 1.24% of the stock is currently owned by insiders.

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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