Netflix, Inc. $NFLX Shares Newly Bought by Waycross Investment Management Co

Key Points

• Waycross Investment Management acquired 15,519 Netflix shares worth approximately $1.08 million during the third quarter. Other hedge funds also initiated or increased positions, with institutional investors owning 80.93% of the company.
• Netflix shares fell 0.7% to $69.93, near the lower end of their $65.08–$124.86 52-week range. The company reported quarterly EPS of $0.80, slightly above estimates, while revenue of $12.56 billion rose 13.4% year over year but narrowly missed expectations.
• Analyst sentiment remained broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $94.53. However, company insiders sold 179,045 shares worth approximately $13.1 million during the quarter.

Waycross Investment Management Co acquired a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,519 shares of the Internet television network's stock, valued at approximately $1,080,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Netflix during the second quarter worth $26,000. Compound Global Advisors LLC acquired a new stake in shares of Netflix in the second quarter valued at $29,000. Burnham & Co LLC acquired a new stake in shares of Netflix in the second quarter valued at $29,000. Merkkuri Wealth Advisors LLC purchased a new stake in shares of Netflix in the 1st quarter valued at $31,000. Finally, Bayban raised its holdings in shares of Netflix by 400.0% in the 1st quarter. Bayban now owns 350 shares of the Internet television network's stock valued at $34,000 after buying an additional 280 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Down 0.7%

Shares of NASDAQ:NFLX traded down $0.53 during trading hours on Wednesday, reaching $69.93. The stock had a trading volume of 18,604,005 shares, compared to its average volume of 42,154,082. Netflix, Inc. has a 1 year low of $65.08 and a 1 year high of $124.86. The firm's 50 day moving average is $75.34 and its 200-day moving average is $81.03. 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 stock has a market capitalization of $291.19 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.00 and a beta of 1.62.

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

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Neumann sold 9,248 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $75.79, for a total value of $700,905.92. Following the transaction, the chief financial officer directly owned 73,787 shares in the company, valued at $5,592,316.73. This represents a 11.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 5,723 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total transaction of $416,920.55. Following the sale, the insider owned 316,100 shares of the company's stock, valued at $23,027,885. This represents a 1.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 179,045 shares of company stock worth $13,132,194. Corporate insiders own 1.24% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Sanford C. Bernstein assumed coverage on Netflix in a report on Monday, September 28th. They set a "buy" rating for the company. China Intl Cap raised Netflix to a "strong-buy" rating in a research report on Tuesday, July 21st. Citigroup reiterated a "market perform" rating on shares of Netflix in a research note on Monday, August 17th. Deutsche Bank Aktiengesellschaft raised shares of Netflix from a "hold" rating to a "buy" rating and reduced their price target for the stock from $100.00 to $95.00 in a research report on Tuesday, September 29th. Finally, Wolfe Research reissued an "outperform" rating and set a $95.00 price target (up from $84.00) on shares of Netflix in a research report on Tuesday, August 25th. Three investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $94.53.

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix secured exclusive rights to broadcast the 2030 FIFA World Cup in Spain and Andorra, potentially strengthening its sports offering and creating another opportunity to attract and retain subscribers. Netflix secures 2030 World Cup rights
• Positive Sentiment: Some investors remain constructive after the stock’s roughly 40% decline over the past year, arguing that Netflix’s profitability, international growth and opportunities beyond subscriber expansion could support a recovery. Netflix growth opportunities beyond subscribers
• Neutral Sentiment: Netflix reports third-quarter results on October 20. Investors are expected to focus on revenue growth, U.S. and international trends, free cash flow, content spending and management’s outlook. Netflix upcoming earnings and free cash flow
• Negative Sentiment: Netflix is eliminating approximately 1,000 jobs, or 6% of its global workforce, in its largest reduction since 2022. The cuts may reduce expenses, but their timing suggests management is responding to slowing growth, weaker engagement and intensifying competition for viewers. Netflix cuts about 6% of jobs
• Negative Sentiment: App data from Apptopia reportedly showed U.S. churn rising 16.6%, raising concerns that Netflix is having difficulty maintaining engagement in its home market as viewers face more competing entertainment options. Netflix U.S. app churn rises
• Negative Sentiment: Analyst pressure has increased ahead of earnings: Huber Research downgraded NFLX to Sell, while KeyBanc lowered its price target despite retaining an Overweight rating. Concerns include slowing viewership, rising content costs and margin pressure. Netflix analyst downgrade

About Netflix

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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