Netflix, Inc. $NFLX Stake Trimmed by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management cut its Netflix stake by 27.5% in the third quarter, selling 72,662 shares and retaining 191,415 shares valued at approximately $13.3 million.
• Netflix reported third-quarter earnings of $0.87 per share, exceeding the $0.82 consensus estimate, while revenue rose 11.9% year over year to $12.87 billion.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $89.94, despite several firms lowering their targets after the stock’s decline.

Axxcess Wealth Management LLC decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 27.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,415 shares of the Internet television network's stock after selling 72,662 shares during the quarter. Axxcess Wealth Management LLC's holdings in Netflix were worth $13,305,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Nykredit A S purchased a new position in shares of Netflix in the 2nd quarter worth approximately $105,697,000. Rockland Trust Co. increased its position in shares of Netflix by 27.5% during the 3rd quarter. Rockland Trust Co. now owns 219,221 shares of the Internet television network's stock valued at $15,253,000 after purchasing an additional 47,339 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Netflix by 25.0% during the 1st quarter. Ritholtz Wealth Management now owns 106,451 shares of the Internet television network's stock valued at $10,235,000 after buying an additional 21,260 shares during the period. Welch & Forbes LLC raised its holdings in Netflix by 3,464.5% during the 1st quarter. Welch & Forbes LLC now owns 118,448 shares of the Internet television network's stock valued at $11,389,000 after buying an additional 115,125 shares during the period. Finally, USS Investment Management Ltd raised its holdings in Netflix by 31.8% during the 1st quarter. USS Investment Management Ltd now owns 886,527 shares of the Internet television network's stock valued at $85,244,000 after buying an additional 213,972 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Price Performance

NFLX opened at $65.04 on Thursday. The business has a fifty day moving average of $74.74 and a 200 day moving average of $79.96. The stock has a market cap of $270.82 billion, a P/E ratio of 18.80, a PEG ratio of 0.97 and a beta of 1.62. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a 52-week low of $64.10 and a 52-week high of $116.73.

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

Analysts Set New Price Targets

NFLX has been the subject of a number of analyst reports. Guggenheim lowered their price target on Netflix from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Netflix from $85.00 to $81.00 and set an "overweight" rating on the stock in a research report on Wednesday. Pivotal Research reissued a "hold" rating and issued a $65.00 target price on shares of Netflix in a research note on Wednesday. Citizens Jmp reissued a "market perform" rating on shares of Netflix in a research note on Wednesday. Finally, Robert W. Baird set a $90.00 target price on shares of Netflix and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.94.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix reported third-quarter EPS of $0.87, above the $0.82 consensus estimate, while revenue of $12.87 billion was essentially in line with expectations. Revenue increased about 12% year over year, operating margin expanded to 34.6%, and net income rose approximately 44%. Netflix Q3 earnings report
• Positive Sentiment: Some analysts remain constructive after the selloff. UBS, JPMorgan, Bank of America, TD Cowen and Guggenheim maintained positive ratings despite lowering price targets, while BMO described the decline as a potential buying opportunity. BMO post-earnings view
• Positive Sentiment: Management expects advertising revenue to grow more than 80% in 2026 and is betting on improved U.S. programming, live events and internationally successful local-language content to increase engagement and improve returns on content spending. Local-language content analysis

Insider Activity

In related news, Director Richard N. Barton sold 720 shares of the firm's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $75.27, for a total value of $54,194.40. Following the transaction, the director owned 2,460 shares of the company's stock, valued at $185,164.20. This trade represents a 22.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David A. Hyman sold 5,723 shares of Netflix stock in a transaction dated Tuesday, August 4th. The shares were 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. The trade was 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 three months, insiders sold 179,045 shares of company stock valued at $13,132,194. Insiders own 1.24% of the company's stock.

Netflix Company 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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