Stonehage Fleming Financial Services Holdings Ltd Sells 94,405 Shares of Netflix, Inc. $NFLX

Key Points

• Stonehage Fleming reduced its Netflix position by 5.3%, selling 94,405 shares and retaining 1.68 million shares valued at approximately $120 million. Netflix represents about 4.1% of the firm’s portfolio, while institutional investors own 80.93% of the stock.
• Netflix insiders have also been net sellers, with executives and directors selling 600,295 shares worth roughly $49.1 million over the past three months. CEO Ted Sarandos’ sale was conducted under a pre-arranged plan partly to cover tax obligations from vested equity awards.
• Netflix reported 13.4% year-over-year revenue growth to $12.56 billion and slightly beat quarterly EPS estimates, but the stock opened at $79.84 and remains below its 200-day moving average. Analysts maintain a “Moderate Buy” consensus with an average price target of $103.19, while advertising expansion is viewed as a potential growth catalyst.

Stonehage Fleming Financial Services Holdings Ltd reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,680,397 shares of the Internet television network's stock after selling 94,405 shares during the period. Netflix accounts for approximately 4.1% of Stonehage Fleming Financial Services Holdings Ltd's investment portfolio, making the stock its 14th biggest holding. Stonehage Fleming Financial Services Holdings Ltd's holdings in Netflix were worth $119,980,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Strive Financial Group LLC boosted its holdings in shares of Netflix by 286.7% during the 2nd quarter. Strive Financial Group LLC now owns 5,584 shares of the Internet television network's stock worth $399,000 after buying an additional 4,140 shares in the last quarter. Redwood Investment Management LLC increased its stake in shares of Netflix by 6.6% in the 2nd quarter. Redwood Investment Management LLC now owns 9,012 shares of the Internet television network's stock valued at $643,000 after acquiring an additional 558 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of Netflix by 250.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 26,136 shares of the Internet television network's stock valued at $1,866,000 after acquiring an additional 18,686 shares in the last quarter. Pure Financial Advisors LLC lifted its position in shares of Netflix by 2.3% during the 2nd quarter. Pure Financial Advisors LLC now owns 41,586 shares of the Internet television network's stock valued at $2,969,000 after acquiring an additional 940 shares during the period. Finally, Payne Capital Management LLC lifted its position in shares of Netflix by 101.6% during the 2nd quarter. Payne Capital Management LLC now owns 5,496 shares of the Internet television network's stock valued at $392,000 after acquiring an additional 2,770 shares during the period. 80.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Richard N. Barton sold 2,160 shares of the company's 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 completion of the sale, the director owned 246 shares in the company, valued at $18,474.60. This represents a 89.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore A. Sarandos sold 27,312 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $73.35, for a total transaction of $2,003,335.20. Following the completion of the sale, the chief executive officer owned 178,954 shares of the company's stock, valued at approximately $13,126,275.90. This represents a 13.24% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 600,295 shares of company stock worth $49,056,671 in the last three months. 1.24% of the stock is owned by corporate insiders.

Netflix Stock Down 2.0%

Netflix stock opened at $79.84 on Friday. The firm has a market capitalization of $332.45 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 1.02 and a beta of 1.52. The firm's fifty day moving average price is $74.56 and its two-hundred day moving average price is $84.35. Netflix, Inc. has a 1-year low of $65.08 and a 1-year high of $126.71. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. On average, equities research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix’s advertising strategy remains a potential earnings catalyst. The company is targeting roughly $3 billion in advertising revenue, while expanding ad-supported plans globally and incorporating live events to improve monetization. Netflix Stock Opinions on Ad Monetization and Market Resistance
• Positive Sentiment: Analyst support and a stronger content lineup are helping underpin the recovery narrative. Wolfe Research recently raised its price target to $95, while reports of a Netflix-related Grand Theft Auto VI preview and other upcoming releases could support engagement and subscriber monetization. Jim Cramer Says Netflix Worth the Risk as Wolfe Raises Price Target to $95
• Neutral Sentiment: The stock has historically attracted buyers near its current technical floor, and it has recovered more than 21% from a recent low. However, investors are watching whether the rebound can break through resistance and develop into a sustained advance. NFLX Has Bounced From This Price Before. Now What?
• Neutral Sentiment: Netflix continues to post solid fundamentals: latest quarterly revenue rose 13.4% year over year to $12.56 billion, while earnings modestly exceeded expectations. The slight revenue miss and debate over slowing growth, however, have limited investor enthusiasm.
• Negative Sentiment: Relative weakness is notable because Netflix declined even as the broader market advanced. Analysts increasingly view Alphabet as having an edge because of its faster-growing, diversified advertising business and lower valuation, raising concerns about Netflix’s multiple and future growth rate. NFLX vs. GOOGL: Which Streaming and Ad Stock Has an Edge Right Now?
• Negative Sentiment: Reported insider activity has been heavily skewed toward selling, with no insider purchases and multiple sales by executives and directors over the past six months. While such transactions do not necessarily signal deteriorating operations, they can weigh on sentiment during a technical pullback. Netflix Insider Trading and Market Resistance

Analysts Set New Price Targets

Several research analysts recently issued reports on NFLX shares. Citigroup reissued a "market perform" rating on shares of Netflix in a research note on Monday, August 17th. KGI Securities lowered shares of Netflix from an "outperform" rating to a "neutral" rating and set a $75.00 price objective on the stock. in a report on Friday, July 17th. Wells Fargo & Company set a $80.00 price objective on shares of Netflix and gave the stock an "equal weight" rating in a research report on Friday, July 17th. Jefferies Financial Group reduced their target price on Netflix from $128.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, June 10th. Finally, China Intl Cap raised Netflix to a "strong-buy" rating in a research note on Tuesday, July 21st. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $103.19.

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.

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.

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