Rockland Trust Co. Buys 169,625 Shares of Netflix, Inc. $NFLX

Rockland Trust Co. lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 7,515.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 171,882 shares of the Internet television network’s stock after purchasing an additional 169,625 shares during the quarter. Rockland Trust Co.’s holdings in Netflix were worth $12,272,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pacific Sun Financial Corp raised its holdings in Netflix by 1.6% during the 3rd quarter. Pacific Sun Financial Corp now owns 574 shares of the Internet television network’s stock valued at $688,000 after buying an additional 9 shares during the period. Beaird Harris Wealth Management LLC boosted its stake in Netflix by 9.6% during the third quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock worth $137,000 after buying an additional 10 shares during the period. Monograph Wealth Advisors LLC increased its position in Netflix by 1.8% during the second quarter. Monograph Wealth Advisors LLC now owns 682 shares of the Internet television network’s stock valued at $913,000 after acquiring an additional 12 shares during the last quarter. Resources Management Corp CT ADV increased its position in Netflix by 2.0% during the second quarter. Resources Management Corp CT ADV now owns 829 shares of the Internet television network’s stock valued at $1,110,000 after acquiring an additional 16 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. raised its stake in shares of Netflix by 1.4% in the second quarter. Sompo Asset Management Co. Ltd. now owns 1,500 shares of the Internet television network’s stock valued at $2,009,000 after acquiring an additional 20 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 27,312 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $73.54, for a total value of $2,008,524.48. Following the completion of the sale, the chief executive officer directly owned 120,931 shares in the company, valued at approximately $8,893,265.74. This represents a 18.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Reed Hastings sold 386,700 shares of the stock in a transaction on Monday, June 1st. The stock was 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 $338,721.80. The trade was 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. Insiders have sold 591,047 shares of company stock valued at $48,355,766 over the last 90 days. 1.24% of the stock is owned by insiders.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix will exclusively premiere Grand Theft Auto VI: An Extended Look on August 27, six hours before its YouTube release. The high-profile Rockstar Games event could drive subscriber engagement, streaming traffic and broader attention to Netflix’s platform. GTA VI Extended Look to Debut on Netflix
• Positive Sentiment: Wall Street’s outlook remains moderately bullish despite NFLX’s weak recent performance. Analysts’ consensus rating is “Moderate Buy,” with an average price target of approximately $103.48, substantially above recent trading levels. Netflix Receives Moderate Buy Consensus
• Positive Sentiment: One valuation analysis estimates Netflix could be about 26% undervalued based on discounted-cash-flow and market-multiple models. A multiyear licensing agreement involving The Walking Dead universe may provide additional content and monetization opportunities. Netflix May Be Undervalued
• Neutral Sentiment: Netflix’s latest quarterly results were mixed: earnings per share narrowly beat estimates and revenue rose 13.4% year over year, but revenue slightly missed expectations. Investors may therefore remain focused on future growth and engagement trends.
• Negative Sentiment: CEO Gregory Peters sold 27,312 shares worth about $2.0 million, reducing his direct holdings by 18.42%. Director Richard Barton also sold 2,160 shares for approximately $162,000. Barton’s sale was made under a pre-arranged Rule 10b5-1 plan, limiting its significance, but the combined insider selling may still weigh on sentiment. Netflix Insider Selling
• Negative Sentiment: Netflix has underperformed the S&P 500 over the past year amid concerns about engagement, limited viewing-data disclosure and intensifying streaming competition. The shares also remain below their major moving averages, signaling continued technical pressure. Netflix Underperforms the S&P 500

Analyst Ratings Changes

Several research firms have recently issued reports on NFLX. Wedbush lowered their target price on shares of Netflix from $118.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Guggenheim set a $75.00 price objective on shares of Netflix and gave the stock a “buy” rating in a research report on Friday, July 17th. TD Cowen decreased their price objective on shares of Netflix from $112.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Barclays dropped their target price on Netflix from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Friday, July 17th. Finally, HSBC upped their target price on Netflix from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $103.48.

Netflix Price Performance

Shares of NFLX stock opened at $74.14 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $308.71 billion, a P/E ratio of 23.34, a P/E/G ratio of 0.93 and a beta of 1.52. The company’s 50-day simple moving average is $75.32 and its two-hundred day simple moving average is $84.88. Netflix, Inc. has a one year low of $65.08 and a one year high of $126.71.

Netflix (NASDAQ:NFLX) last issued its earnings results 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 net margin of 28.22% and a return on equity of 40.02%. The business had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.58 billion. During the same period last year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current year.

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.