Concord Investment Counsel Inc. Buys Shares of 130,572 Netflix, Inc. $NFLX

Concord Investment Counsel Inc. bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 130,572 shares of the Internet television network’s stock, valued at approximately $9,273,000. Netflix accounts for approximately 2.5% of Concord Investment Counsel Inc.’s investment portfolio, making the stock its 18th largest holding.

A number of other large investors also recently modified their holdings of NFLX. Vanguard Group Inc. grew its position in shares of Netflix by 912.5% during the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network’s stock valued at $36,567,805,000 after buying an additional 351,493,659 shares during the last quarter. BlackRock Inc. bought a new position in Netflix in the second quarter worth about $24,902,221,000. State Street Corp boosted its stake 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 valued at $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 period. Finally, Capital World Investors grew its holdings in shares of Netflix by 859.1% during 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 purchasing an additional 80,025,890 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NFLX. Wedbush dropped their price target on Netflix from $118.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Citic Securities boosted their price objective on Netflix from $95.00 to $107.00 and gave the company a “hold” rating in a research report on Monday, April 27th. Stephens assumed coverage on Netflix in a research note on Friday, July 17th. They set an “overweight” rating for the company. Robert W. Baird set a $90.00 price objective on Netflix and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $110.00 target price on Netflix in a research report on Monday, July 20th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.48.

Netflix Trading Down 0.7%

Netflix stock opened at $79.59 on Friday. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $126.71. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $331.41 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 1.01 and a beta of 1.52. The company has a 50 day moving average price of $74.39 and a 200 day moving average price of $84.34.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. The company had revenue of $12.56 billion for 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 company’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. Research analysts forecast that Netflix, Inc. will post 3.59 EPS for the current year.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix continues to grow faster than many streaming rivals, and its lower valuation after the selloff could provide significant upside if revenue, advertising and engagement trends remain strong. A valuation model described the current setup as potentially asymmetric in investors’ favor. Netflix Is Down 40% From Its All-Time High Could Netflix Stock Double From Here?
• Positive Sentiment: JPMorgan analyst Doug Anmuth maintained an Overweight rating and an $85 price target, citing Netflix’s content pipeline and multiple initiatives to support engagement and revenue growth. The view suggests potential upside from current levels, although the analyst sees no single catalyst guaranteeing acceleration. Netflix Has No Single Silver Bullet
• Positive Sentiment: Netflix’s advertising-supported tier and broad content offering could make the company relatively resilient during a recession, as consumers may retain lower-cost entertainment subscriptions even amid economic pressure. Which Streaming Stock Would Hold Up Better in a Recession?
• Neutral Sentiment: Representatives for Meghan of Sussex reportedly held exploratory discussions about a possible role in a third season of The Gentlemen. Netflix has not ordered the season, so the potential casting has no immediate financial impact. Meghan of Sussex Eyes Role in Netflix Show The Gentlemen
• Negative Sentiment: With Netflix no longer emphasizing subscriber numbers, investors must rely more heavily on revenue growth, advertising performance, engagement and profitability metrics. That makes it harder to assess momentum and contributes to debate over whether the stock’s decline reflects a bargain or slowing growth. Netflix Is Down 40% From Its All-Time High
• Negative Sentiment: YouTube is reportedly offering creators substantial payments and warning that simultaneous Netflix deals could jeopardize marketing support and brand-campaign revenue. This could intensify competition for exclusive content and creator attention. YouTube Offers Creators Millions to Avoid Netflix Deals

Insider Activity

In related news, CEO Gregory K. Peters sold 27,312 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $8,893,265.74. This represents a 18.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reed Hastings sold 386,700 shares of the firm’s stock in a transaction dated 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 sale, the director owned 3,940 shares of the company’s stock, valued at $338,721.80. The trade was a 98.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 600,295 shares of company stock valued at $49,056,671 in the last ninety days. Corporate insiders own 1.24% of the company’s stock.

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.