Netflix, Inc. $NFLX Shares Purchased by IFP Advisors Inc

Key Points

• IFP Advisors increased its Netflix stake by 26.1% in the third quarter, acquiring 66,177 additional shares for a total holding of 319,749 shares valued at approximately $22.25 million. Institutional investors collectively own 80.93% of Netflix.
• Netflix shares opened at $70.53, well below their 50-day and 200-day moving averages, with a 12-month range of $65.08 to $124.86. The stock has a consensus “Moderate Buy” rating and an average analyst price target of $93.82.
• Analysts cite potential upside from pricing increases and advertising growth, but investors face concerns over slowing engagement, rising churn, competition and a major workforce reduction. Netflix is also changing its content leadership, while insiders sold shares valued at roughly $13.1 million in the latest quarter.

IFP Advisors Inc grew its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 26.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 319,749 shares of the Internet television network's stock after buying an additional 66,177 shares during the quarter. IFP Advisors Inc's holdings in Netflix were worth $22,248,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Robertson Stephens Wealth Management LLC increased its position in shares of Netflix by 4.0% during the third quarter. Robertson Stephens Wealth Management LLC now owns 55,739 shares of the Internet television network's stock worth $3,878,000 after acquiring an additional 2,143 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in Netflix by 0.6% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 579,839 shares of the Internet television network's stock valued at $40,345,000 after acquiring an additional 3,538 shares in the last quarter. Western Pacific Wealth Management LP lifted its position in Netflix by 73.1% in the 3rd quarter. Western Pacific Wealth Management LP now owns 6,060 shares of the Internet television network's stock valued at $422,000 after acquiring an additional 2,560 shares in the last quarter. AlphaStar Capital Management LLC lifted its position in Netflix by 20.0% in the 3rd quarter. AlphaStar Capital Management LLC now owns 40,915 shares of the Internet television network's stock valued at $2,847,000 after acquiring an additional 6,816 shares in the last quarter. Finally, Cravens & Co Advisors LLC lifted its position in Netflix by 13.4% in the 3rd quarter. Cravens & Co Advisors LLC now owns 9,205 shares of the Internet television network's stock valued at $640,000 after acquiring an additional 1,089 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Netflix Price Performance

NASDAQ NFLX opened at $70.53 on Friday. The firm's 50 day moving average is $75.17 and its 200-day moving average is $80.66. 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 company has a market capitalization of $293.68 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 1.00 and a beta of 1.62. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $124.86.

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

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Jefferies upgraded Netflix (NFLX) to “strong buy,” citing potential support from pricing increases and advertising growth. Wedbush also maintained an “outperform” rating, although it lowered its price target to $90 from $105. Netflix stock gets bullish analyst call
• Positive Sentiment: Options activity is signaling expectations for a substantial post-earnings move, while sentiment remains bullish in some derivatives markets. Technical analysts also see a possible double-bottom pattern, with a break above $83.60 potentially opening a path toward $102.12. Barchart Netflix earnings outlook
• Neutral Sentiment: Netflix is replacing Chief Content Officer Bela Bajaria with former Disney and Fox executive Peter Rice. His experience across scripted programming, live sports, unscripted content and theatrical distribution could help Netflix develop new hits, but the abrupt change before earnings highlights pressure to improve engagement. Netflix appoints Peter Rice
• Negative Sentiment: Netflix announced plans to eliminate about 1,000 jobs, or 6% of its workforce, one day before the content-chief transition. Although the cuts may improve efficiency, investors viewed them as evidence of a sharper growth reset and concerns about the company’s content strategy. Netflix shares under pressure after content chief departure
• Negative Sentiment: Pre-earnings concerns include slowing viewership, rising churn, declining engagement and intensifying competition. Analysts also warn that Netflix’s premium valuation leaves little room for disappointing guidance, while options traders anticipate a move that could take the stock toward a two-year low. Netflix Q3 earnings outlook

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NFLX shares. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $75.00 target price on shares of Netflix in a research note on Friday. CLSA started coverage on Netflix in a research note on Monday, July 20th. They issued an "outperform" rating on the stock. KGI Securities lowered Netflix from an "outperform" rating to a "neutral" rating and set a $75.00 price target on the stock. in a report on Friday, July 17th. KeyCorp cut their price target on Netflix from $92.00 to $85.00 and set an "overweight" rating on the stock in a report on Tuesday, October 13th. Finally, Stephens began coverage on Netflix in a research report on Friday, July 17th. They set an "overweight" rating for the company. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus target price of $93.82.

Insiders Place Their Bets

In other Netflix news, Director Richard Barton sold 2,160 shares of Netflix stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $75.10, for a total value of $162,216.00. Following the sale, the director directly owned 246 shares in the company, valued at approximately $18,474.60. The trade was a 89.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore Sarandos sold 105,850 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $73.03, for a total transaction of $7,730,225.50. Following the sale, the chief executive officer directly owned 206,266 shares in the company, valued at $15,063,605.98. This trade represents a 33.91% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 179,045 shares of company stock valued at $13,132,194 in the last quarter. 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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