Empowered Funds LLC Acquires 149,271 Shares of Netflix, Inc. $NFLX

Empowered Funds LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,007,619 shares of the Internet television network’s stock after acquiring an additional 149,271 shares during the period. Empowered Funds LLC’s holdings in Netflix were worth $71,944,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Imprint Wealth LLC purchased a new stake in Netflix during the 3rd quarter worth about $25,000. Wealth Watch Advisors INC bought a new position in Netflix in the 3rd quarter worth about $103,000. Strategic Wealth Investment Group LLC purchased a new position in Netflix during the 2nd quarter valued at about $121,000. Wiser Advisor Group LLC purchased a new position in Netflix during the 3rd quarter valued at about $114,000. Finally, Beaird Harris Wealth Management LLC increased its position in shares of Netflix by 9.6% during the third quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock valued at $137,000 after buying an additional 10 shares during the period. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of analyst reports. Pivotal Research decreased their target price on shares of Netflix from $96.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, July 17th. KeyCorp reissued an “overweight” rating and issued a $92.00 price target (down from $115.00) on shares of Netflix in a report on Monday, July 13th. Robert W. Baird set a $90.00 target price on shares of Netflix and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Oppenheimer set a $85.00 price target on Netflix and gave the company an “outperform” rating in a research report on Friday, July 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, August 14th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $103.19.

Insider Buying and Selling at Netflix

In other Netflix news, Director Bradford L. Smith sold 35,990 shares of Netflix stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total value of $2,789,944.80. Following the transaction, the director directly owned 79,690 shares of the company’s stock, valued at $6,177,568.80. The trade was a 31.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $75.79, for a total value of $700,905.92. Following the completion of the sale, the chief financial officer owned 73,787 shares of the company’s stock, valued at $5,592,316.73. The trade was a 11.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 600,295 shares of company stock worth $49,056,671 over the last quarter. Company insiders own 1.24% of the company’s stock.

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 Stock Performance

Netflix stock opened at $79.84 on Friday. The firm has a fifty day simple moving average of $74.56 and a two-hundred day simple moving average of $84.35. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $126.71. The company has a market capitalization of $332.45 billion, a PE ratio of 25.13, a P/E/G ratio of 1.02 and a beta of 1.52.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the firm earned $0.72 earnings per share. Research analysts expect 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.