Netflix, Inc. $NFLX Shares Newly Bought by Associated Banc Corp

Key Points

• Associated Banc Corp opened a new Netflix position in the third quarter, buying 429,616 shares valued at approximately $29.9 million.
• Institutional investors own about 80.93% of Netflix shares, with several major firms—including BlackRock and Bank of New York Mellon—also reporting new stakes.
• Netflix beat quarterly earnings-per-share expectations and posted 11.9% year-over-year revenue growth, though the article also cites a reduced 2026 advertising-revenue forecast and softer engagement as concerns.

Associated Banc Corp bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 429,616 shares of the Internet television network's stock, valued at approximately $29,893,000.

Several other large investors have also recently made changes to their positions in NFLX. BlackRock Inc. purchased a new stake in shares of Netflix in the 2nd quarter worth approximately $24,902,221,000. State Street Corp increased its position in Netflix by 4.9% during the 2nd quarter. State Street Corp now owns 180,129,582 shares of the Internet television network's stock valued at $12,861,252,000 after buying an additional 8,474,820 shares in the last quarter. Bank of America Corp DE raised its stake in Netflix by 4.3% during the first quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network's stock valued at $5,571,201,000 after buying an additional 2,376,349 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Netflix during the second quarter valued at $1,906,482,000. Finally, Legal & General Group Plc purchased a new position in Netflix during the second quarter valued at $1,886,526,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix is rolling out an “AI Discover” tab, beginning with recommendations based on users’ moods. Better content discovery could encourage more viewing and support the company’s advertising ambitions. Article: Netflix's new AI Discover tab helps you find something to watch based on your mood
• Positive Sentiment: Netflix hired former Google executive Darshan Kantak to lead its ads platform, a move that may strengthen its push to grow advertising revenue. Article: Netflix hires Darshan Kantak to lead ads platform
• Neutral Sentiment: Some commentary argues Netflix’s valuation is comparatively low and that continued revenue growth could offer long-term upside. These are investor opinions, not new company guidance or confirmed catalysts. Article: Netflix Trades at a Discount to the S&P 500's Valuation. Is It Deserved?
• Negative Sentiment: Netflix trimmed its 2026 advertising-revenue forecast to about $2.7 billion and flagged softer engagement. The concerns may weigh on expectations for ad growth, even as the company forecasts a 31.5% full-year operating margin. Article: How Investors May Respond To Netflix Lower Ad Revenue Guidance
• Negative Sentiment: Reports say Netflix is cutting roughly 2%–3% of staff at its London hub, following a broader plan to eliminate about 1,000 roles. The restructuring adds to uncertainty about the company’s operations and growth outlook. Article: Netflix cuts UK staff and parts with production head Anna Mallett, report says

Netflix Stock Performance

NFLX stock opened at $63.42 on Wednesday. The stock has a market capitalization of $260.42 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 0.91 and a beta of 1.62. Netflix, Inc. has a 12-month low of $61.39 and a 12-month high of $116.73. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The stock's 50 day simple moving average is $72.00 and its 200 day simple moving average is $81.31.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05. The business had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.87 billion. Netflix had a return on equity of 42.69% and a net margin of 29.69%. The company's revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $0.59 EPS. As a group, research analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NFLX shares. Huber Research cut Netflix from a "buy" rating to an "underweight" rating in a research note on Tuesday, October 13th. Morgan Stanley set a $77.00 price target on Netflix and gave the company an "overweight" rating in a report on Wednesday, October 21st. Weiss Ratings lowered Netflix from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 23rd. Citigroup reiterated a "buy" rating and issued a $85.00 price target (down from $100.00) on shares of Netflix in a research note on Wednesday, October 21st. Finally, Pivotal Research reiterated a "hold" rating and issued a $65.00 price target (down from $70.00) on shares of Netflix in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $89.14.

Insiders Place Their Bets

In other news, Director Bradford Smith sold 17,980 shares of the company's stock in a transaction on Monday, October 26th. The stock was sold at an average price of $64.03, for a total transaction of $1,151,259.40. Following the transaction, the director directly owned 79,690 shares of the company's stock, valued at $5,102,550.70. This represents a 18.41% 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. Also, CEO Gregory Peters sold 27,312 shares of the stock in a transaction on Thursday, August 6th. The shares were 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 in the company, valued at $8,893,265.74. This trade represents a 18.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 55,980 shares of company stock valued at $3,970,756. Company insiders own 1.24% of the company's stock.

Netflix Profile

Netflix, Inc NASDAQ: NFLX is a global entertainment company that provides subscription-based streaming services. Its platform offers a broad selection of television series, films, documentaries, stand-up specials and other programming, including content produced by Netflix and licensed from third-party studios and creators.

The company also develops and distributes original productions under the Netflix brand and has expanded into additional entertainment offerings, including mobile and cloud-based games in select markets and live programming.

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