50,030 Shares in Netflix, Inc. $NFLX Bought by Portfolio Design Labs LLC

Portfolio Design Labs LLC acquired a new position in Netflix, Inc. (NASDAQ:NFLX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 50,030 shares of the Internet television network’s stock, valued at approximately $3,572,000.

A number of other institutional investors have also recently bought and sold shares of NFLX. Vanguard Group Inc. boosted its holdings in shares of Netflix by 912.5% in the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock worth $36,567,805,000 after buying an additional 351,493,659 shares during the last quarter. BlackRock Inc. bought a new stake in Netflix in the second quarter worth about $24,902,221,000. State Street Corp raised its position in Netflix by 927.6% in the fourth quarter. State Street Corp now owns 176,780,995 shares of the Internet television network’s stock worth $16,574,986,000 after acquiring an additional 159,578,053 shares during the period. Geode Capital Management LLC boosted its stake in Netflix by 892.0% in the fourth 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 acquiring an additional 89,558,684 shares during the last quarter. Finally, Capital World Investors boosted its stake in Netflix by 859.1% in the fourth quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock valued at $8,376,656,000 after acquiring an additional 80,025,890 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $80.14 on Friday. The company has a 50 day moving average of $74.40 and a 200 day moving average of $84.37. 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 stock has a market cap of $333.70 billion, a P/E ratio of 25.23, a P/E/G ratio of 1.01 and a beta of 1.52. Netflix, Inc. has a 12 month low of $65.08 and a 12 month high of $126.71.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating 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 net margin of 28.22% and a return on equity of 40.02%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman’s Pershing Square rebuilt a major position. The investment firm’s purchase, despite previously taking a reported $400 million loss on Netflix, signals confidence in the company’s long-term growth, competitive position and leadership. The disclosure helped support a recent increase in NFLX shares. Netflix Moved, What Is Drawing Attention Now?
• Positive Sentiment: Analysts see advertising as a significant growth opportunity. Netflix is expanding its ad-supported business through live programming, new ad technology and additional tools for marketers. The company is targeting substantial future advertising revenue, which could diversify its sales base and support continued revenue expansion. NFLX’s Ad Business Focus
• Positive Sentiment: Valuation has become more attractive after the selloff. Netflix trades at roughly 21 times forward earnings in the cited analysis, a level viewed as more reasonable than during prior periods of comparable declines. A CNBC contributor also recommended Netflix, reinforcing the bullish case among some investors. Netflix Trades at 21 Times Forward Earnings
• Neutral Sentiment: Co-founder Reed Hastings discussed Netflix’s performance-focused culture. Hastings said companies should operate as teams rather than families, making workforce reductions easier when employees do not meet expectations. The comments revisit Netflix’s 2001 layoffs but do not represent a new operating announcement. Reed Hastings Says Companies Aren’t Families
• Negative Sentiment: YouTube is reportedly trying to prevent creators from signing with Netflix. YouTube is offering creators millions of dollars and warning that simultaneous Netflix deals could jeopardize marketing support and brand-campaign revenue. This could raise Netflix’s content-acquisition costs and make it harder to secure popular creator-led programming. YouTube Offers Creators Millions to Avoid Netflix Deals
• Negative Sentiment: Netflix faces a lawsuit from the band Demon Hunter. The group alleges that Netflix’s KPop Demon Hunters infringes its rights. The case creates legal and reputational risk, although the financial impact is currently unclear. Netflix Sued by Band Demon Hunter

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Erste Group Bank lowered shares of Netflix from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Piper Sandler reiterated an “overweight” rating and issued a $85.00 price objective (down from $115.00) on shares of Netflix in a research note on Friday, July 17th. Seaport Research Partners lowered Netflix from a “buy” rating to a “neutral” rating in a report on Monday, July 20th. Guggenheim set a $75.00 price objective on Netflix and gave the company a “buy” rating in a report on Friday, July 17th. Finally, Pivotal Research decreased their target price on Netflix from $96.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, July 17th. Four equities 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.48.

Insider Buying and Selling

In related news, insider David A. Hyman sold 5,723 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total value of $416,920.55. Following the sale, the insider owned 316,100 shares in the company, valued at approximately $23,027,885. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory K. Peters sold 27,312 shares of Netflix stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $73.54, for a total value of $2,008,524.48. Following the sale, the chief executive officer directly owned 120,931 shares of the company’s stock, valued at $8,893,265.74. This represents a 18.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 600,295 shares of company stock valued at $49,056,671 in the last ninety days. 1.24% of the stock is owned by insiders.

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.