Yukon Wealth Management Inc. Purchases Shares of 20,472 Netflix, Inc. $NFLX

Key Points

• Yukon Wealth Management acquired 20,472 Netflix shares worth approximately $1.46 million in the second quarter, making Netflix its 27th-largest holding and representing 0.4% of its portfolio.
• Institutional investors own 80.93% of Netflix, while analysts maintain a “Moderate Buy” consensus with an average price target of $103.19, despite several recent target reductions.
• Netflix shares opened at $79.84 after a 2% decline; the company recently slightly exceeded quarterly earnings expectations, but insiders sold roughly $49.1 million in stock over the past 90 days.

Yukon Wealth Management Inc. acquired a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,472 shares of the Internet television network's stock, valued at approximately $1,462,000. Netflix accounts for about 0.4% of Yukon Wealth Management Inc.'s portfolio, making the stock its 27th largest holding.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Netflix during the second quarter worth about $24,902,221,000. State Street Corp boosted its holdings in Netflix by 927.6% in the 4th quarter. State Street Corp now owns 176,780,995 shares of the Internet television network's stock valued at $16,574,986,000 after purchasing an additional 159,578,053 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Netflix by 892.0% in the 4th quarter. Geode Capital Management LLC now owns 99,598,678 shares of the Internet television network's stock valued at $9,305,336,000 after buying an additional 89,558,684 shares during the period. Capital World Investors grew its stake in shares of Netflix by 859.1% in the 4th quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network's stock valued at $8,376,656,000 after buying an additional 80,025,890 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Netflix by 685.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 86,058,878 shares of the Internet television network's stock valued at $8,068,882,000 after buying an additional 75,107,069 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Netflix from $118.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, July 17th. KeyCorp reaffirmed an "overweight" rating and issued a $92.00 target price (down from $115.00) on shares of Netflix in a report on Monday, July 13th. Oppenheimer set a $85.00 price target on shares of Netflix and gave the stock an "outperform" rating in a research note on Friday, July 17th. Wells Fargo & Company set a $80.00 price target on shares of Netflix and gave the stock an "equal weight" rating in a report on Friday, July 17th. Finally, Stephens started coverage on shares of Netflix in a report on Friday, July 17th. They issued an "overweight" rating on the stock. Four equities research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $103.19.

Insider Activity

In related news, Director Bradford L. Smith sold 35,990 shares of the business'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 transaction of $2,789,944.80. Following the transaction, the director directly owned 79,690 shares of the company's stock, valued at approximately $6,177,568.80. The trade was a 31.11% decrease in their position. The transaction was disclosed in a legal 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, CFO Spencer Adam Neumann sold 9,248 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $75.79, for a total transaction of $700,905.92. Following the completion of the transaction, the chief financial officer directly owned 73,787 shares in the company, valued at $5,592,316.73. This represents a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 600,295 shares of company stock worth $49,056,671 in the last ninety days. 1.24% of the stock is currently owned by company insiders.

Netflix Trading Down 2.0%

Shares of NFLX stock opened at $79.84 on Friday. The company has a market capitalization of $332.45 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.02 and a beta of 1.52. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $74.56 and a 200 day moving average price of $84.35. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $126.71.

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 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 company had revenue of $12.56 billion for the quarter, compared to analysts' expectations of $12.58 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The firm's quarterly revenue was up 13.4% on a year-over-year basis. Research analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Trending Headlines about Netflix

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

Netflix 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.

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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