Peterson Wealth Services Buys 78,662 Shares of Netflix, Inc. $NFLX

Key Points

• Peterson Wealth Services dramatically increased its Netflix stake in the first quarter, buying 78,662 additional shares and lifting its holdings by 1,368% to 84,412 shares worth about $8.1 million.
• Netflix reported strong quarterly results with earnings of $1.23 per share, beating expectations, and revenue of $12.25 billion, up 16.2% year over year.
• Despite solid results, investor concerns remain as insiders have sold shares and recent reports point to softer viewer engagement, while analysts maintain a “Moderate Buy” consensus with an average target price of $113.65.

Peterson Wealth Services raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1,368.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 84,412 shares of the Internet television network's stock after buying an additional 78,662 shares during the period. Netflix comprises approximately 2.0% of Peterson Wealth Services' holdings, making the stock its 15th largest position. Peterson Wealth Services' holdings in Netflix were worth $8,116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Checchi Capital Advisers LLC raised its position in shares of Netflix by 875.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 31,143 shares of the Internet television network's stock valued at $2,920,000 after buying an additional 27,951 shares during the last quarter. Contravisory Investment Management Inc. boosted its position in shares of Netflix by 837.2% during the fourth quarter. Contravisory Investment Management Inc. now owns 111,380 shares of the Internet television network's stock worth $10,443,000 after acquiring an additional 99,496 shares during the last quarter. BNC Wealth Management LLC grew its stake 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 acquiring an additional 37,451 shares in the last quarter. Crew Capital Management Ltd grew its stake in Netflix by 1,021.9% during the fourth quarter. Crew Capital Management Ltd now owns 9,031 shares of the Internet television network's stock valued at $847,000 after acquiring an additional 8,226 shares in the last quarter. Finally, Family Capital Trust Co grew its stake in Netflix by 20,869.5% during the fourth quarter. Family Capital Trust Co now owns 27,470 shares of the Internet television network's stock valued at $2,576,000 after acquiring an additional 27,339 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $75.47 on Friday. Netflix, Inc. has a 52 week low of $70.86 and a 52 week high of $128.96. The stock has a market capitalization of $317.79 billion, a P/E ratio of 24.38, a PEG ratio of 0.96 and a beta of 1.52. The firm has a fifty day simple moving average of $82.15 and a two-hundred day simple moving average of $87.73. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.43.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 16th. The Internet television network reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.47. The firm had revenue of $12.25 billion for the quarter, compared to the consensus estimate of $12.17 billion. Netflix had a net margin of 28.52% and a return on equity of 40.92%. The business's quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the firm posted $6.61 EPS. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. On average, analysts expect that Netflix, Inc. will post 3.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Director Bradford L. Smith sold 35,990 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total value of $2,789,944.80. Following the completion of the sale, the director directly owned 79,690 shares of the company's stock, valued at $6,177,568.80. This trade represents a 31.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Reed Hastings sold 386,700 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $85.97, for a total value of $33,244,599.00. Following the transaction, the director directly owned 3,940 shares in the company, valued at approximately $338,721.80. This represents a 98.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 899,839 shares of company stock valued at $80,141,661. Corporate insiders own 1.24% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on NFLX shares. HSBC boosted their price target on shares of Netflix from $106.00 to $114.00 and gave the stock a "buy" rating in a research note on Friday, April 10th. Pivotal Research set a $96.00 target price on Netflix and gave the stock a "hold" rating in a report on Friday, April 17th. Guggenheim reiterated a "buy" rating and issued a $120.00 target price on shares of Netflix in a research report on Friday, May 15th. TD Cowen reissued a "buy" rating on shares of Netflix in a research note on Thursday, May 14th. Finally, Phillip Securities raised their price target on Netflix from $100.00 to $110.00 in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $113.65.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Negative Sentiment: A Wall Street Journal report said Netflix is exploring live TV-style channels, third-party app bundles, and other product changes because viewer engagement is slipping, which raised concerns that the company is searching for new ways to keep users hooked. Netflix Is Exploring Live TV and Bundles as It Struggles to Keep Viewers Hooked
• Negative Sentiment: Additional reports highlighted that engagement is starting to slip, with some commentary suggesting Netflix’s biggest hits are no longer holding audiences as long as before, reinforcing worries about slowing momentum. Netflix Faces New Warning Sign as Viewer Engagement Starts to Drop
• Neutral Sentiment: Jefferies reiterated a Buy rating and a $110 price target, but said it sees limited near-term upside catalyst, with investors likely to stay focused on subscriber trends, margins, and management guidance into earnings. Netflix heads into Q2 earnings as Jefferies sees limited upside catalyst
• Neutral Sentiment: Netflix is also being watched for strategic shifts such as gaming, short-form video, and lifestyle content, which could expand engagement over time but also underline that the company is still testing new growth levers. Netflix (NFLX) Is Betting On Gaming Again, But Analysts Don’t Like The Move
• Neutral Sentiment: The upcoming earnings report on July 16 is the main catalyst, with investors looking for signs on subscriber growth, ad revenue, and guidance that could either stabilize the stock or extend its decline. Netflix (NFLX) to Report Q2 Earnings on July 16. Here’s What Benchmark and Citi Expect

About Netflix

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.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.