Summitry LLC Acquires 260,248 Shares of Netflix, Inc. $NFLX

Key Points

• Summitry LLC increased its Netflix stake by 79.6% in the first quarter, buying 260,248 additional shares to hold 587,347 shares valued at approximately $56.5 million.
• Institutional investors own 80.93% of Netflix, while insiders sold roughly 492,289 shares worth $42.2 million during the latest quarter.
• Netflix shares opened at $71.71, down 2.0%, despite quarterly revenue growth of 13.4% and an EPS beat. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $103.48.

Summitry LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 79.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 587,347 shares of the Internet television network's stock after purchasing an additional 260,248 shares during the quarter. Netflix makes up 2.0% of Summitry LLC's holdings, making the stock its 15th biggest position. Summitry LLC's holdings in Netflix were worth $56,473,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares in the last quarter. Sivia Capital Partners LLC increased its position in Netflix by 21.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network's stock worth $1,883,000 after buying an additional 246 shares during the period. Strategic Investment Advisors MI increased its position in Netflix by 18.9% during the 2nd quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network's stock worth $1,036,000 after buying an additional 123 shares during the period. Finally, Schnieders Capital Management LLC. increased its position in Netflix by 12.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network's stock worth $2,832,000 after buying an additional 228 shares during the period. 80.93% of the stock is owned by institutional investors.

Insider Transactions at Netflix

In other news, Director Bradford L. Smith sold 35,990 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $77.52, for a total value of $2,789,944.80. Following the completion of the transaction, the director directly owned 79,690 shares in the company, valued at approximately $6,177,568.80. The trade was a 31.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Adam Neumann sold 9,253 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $88.95, for a total transaction of $823,054.35. Following the sale, the chief financial officer directly owned 73,787 shares of the company's stock, valued at approximately $6,563,353.65. This trade represents a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 492,289 shares of company stock worth $42,186,530. Corporate insiders own 1.24% of the company's stock.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix agreed to a five-year, approximately $500 million licensing deal covering all 371 episodes of The Walking Dead universe in international markets. The agreement strengthens Netflix’s global content lineup and adds a recognizable franchise beginning in 2027. Los Angeles Times article
• Positive Sentiment: Walmart-owned Flipkart is offering qualifying loyalty members a monthly Netflix mobile subscription after four orders in a month. The partnership could support customer acquisition and engagement in India, although the direct financial impact appears limited. Reuters article

Netflix Stock Down 2.0%

Shares of NASDAQ NFLX opened at $71.71 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $126.71. The stock has a market capitalization of $298.60 billion, a P/E ratio of 22.57, a PEG ratio of 0.92 and a beta of 1.52. The stock's fifty day moving average is $76.66 and its 200 day moving average is $85.41.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. HSBC boosted their target price on shares of Netflix from $106.00 to $114.00 and gave the company a "buy" rating in a research report on Friday, April 10th. Moffett Nathanson dropped their price objective on shares of Netflix from $120.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 17th. KeyCorp reissued an "overweight" rating and issued a $92.00 price objective (down from $115.00) on shares of Netflix in a report on Monday, July 13th. BMO Capital Markets lowered shares of Netflix from an "outperform" rating to a "market perform" rating in a research report on Monday, July 20th. Finally, Raymond James Financial restated a "market perform" rating on shares of Netflix in a research report on Thursday, May 14th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $103.48.

Netflix Company Profile

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.

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