34,755 Netflix, Inc. $NFLX Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 70.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,819 shares of the Internet television network’s stock after selling 34,755 shares during the period. New England Research & Management Inc.’s holdings in Netflix were worth $1,031,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Merkkuri Wealth Advisors LLC purchased a new position in Netflix during the first quarter worth $31,000. Bayban raised its holdings in shares of Netflix by 400.0% in the first quarter. Bayban now owns 350 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 280 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Netflix in the second quarter valued at $26,000. Bank of New Hampshire lifted its position in shares of Netflix by 900.0% in the fourth quarter. Bank of New Hampshire now owns 380 shares of the Internet television network’s stock valued at $36,000 after acquiring an additional 342 shares in the last quarter. Finally, Compound Global Advisors LLC purchased a new stake in shares of Netflix in the second quarter valued at $29,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on NFLX shares. Oppenheimer set a $85.00 price objective on Netflix and gave the company an “outperform” rating in a research note on Friday, July 17th. Rosenblatt Securities reissued a “neutral” rating and issued a $75.00 target price on shares of Netflix in a research note on Friday. Phillip Securities upgraded shares of Netflix from a “moderate buy” rating to a “strong-buy” rating and set a $110.00 target price on the stock in a report on Sunday, July 19th. CICC Research reduced their target price on shares of Netflix from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. Finally, Wells Fargo & Company cut shares of Netflix from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $80.00 to $57.00 in a research note on Friday, September 18th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $93.82.

Insiders Place Their Bets

In other Netflix news, CEO Theodore A. Sarandos sold 27,312 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $73.35, for a total value of $2,003,335.20. Following the sale, the chief executive officer directly owned 178,954 shares of the company’s stock, valued at approximately $13,126,275.90. This trade represents a 13.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer 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 value of $700,905.92. Following the completion of the sale, the chief financial officer directly owned 73,787 shares in the company, valued at approximately $5,592,316.73. The trade was a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 179,045 shares of company stock valued at $13,132,194. 1.24% of the stock is currently owned by company insiders.

Netflix Trading Down 2.9%

NFLX traded down $2.08 during trading on Friday, hitting $70.53. The company’s stock had a trading volume of 44,092,721 shares, compared to its average volume of 38,724,876. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $124.86. The stock has a market cap of $293.68 billion, a PE ratio of 22.20, a PEG ratio of 1.02 and a beta of 1.62. The firm’s 50 day moving average price is $75.17 and its 200-day moving average price is $80.66. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter last year, the firm earned $0.72 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. On average, analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current year.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Jefferies upgraded Netflix (NFLX) to “strong buy,” citing potential support from pricing increases and advertising growth. Wedbush also maintained an “outperform” rating, although it lowered its price target to $90 from $105. Netflix stock gets bullish analyst call
• Positive Sentiment: Options activity is signaling expectations for a substantial post-earnings move, while sentiment remains bullish in some derivatives markets. Technical analysts also see a possible double-bottom pattern, with a break above $83.60 potentially opening a path toward $102.12. Barchart Netflix earnings outlook
• Neutral Sentiment: Netflix is replacing Chief Content Officer Bela Bajaria with former Disney and Fox executive Peter Rice. His experience across scripted programming, live sports, unscripted content and theatrical distribution could help Netflix develop new hits, but the abrupt change before earnings highlights pressure to improve engagement. Netflix appoints Peter Rice
• Negative Sentiment: Netflix announced plans to eliminate about 1,000 jobs, or 6% of its workforce, one day before the content-chief transition. Although the cuts may improve efficiency, investors viewed them as evidence of a sharper growth reset and concerns about the company’s content strategy. Netflix shares under pressure after content chief departure
• Negative Sentiment: Pre-earnings concerns include slowing viewership, rising churn, declining engagement and intensifying competition. Analysts also warn that Netflix’s premium valuation leaves little room for disappointing guidance, while options traders anticipate a move that could take the stock toward a two-year low. Netflix Q3 earnings outlook

Netflix Company Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that operates a subscription-based streaming service. It offers a broad range of television series, films, documentaries, and other programming, including original productions developed under the Netflix brand and licensed content from third-party studios.

The company also provides advertising-supported viewing options in some markets and has expanded into related entertainment categories, including mobile and cloud-based games, live programming, and consumer products associated with selected titles.