Netflix, Inc. $NFLX Shares Purchased by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 67.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,250 shares of the Internet television network’s stock after buying an additional 6,520 shares during the period. Netflix makes up approximately 0.8% of Blodgett Wealth Advisors LLC’s portfolio, making the stock its 20th biggest position. Blodgett Wealth Advisors LLC’s holdings in Netflix were worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Imprint Wealth LLC acquired a new position in shares of Netflix in the 3rd quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new position in shares of Netflix during the 3rd quarter worth approximately $103,000. Strategic Wealth Investment Group LLC acquired a new stake in Netflix in the 2nd quarter valued at approximately $121,000. Wiser Advisor Group LLC acquired a new stake in Netflix in the 3rd quarter valued at approximately $114,000. Finally, Beaird Harris Wealth Management LLC raised its position in Netflix by 9.6% in the third quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock valued at $137,000 after purchasing an additional 10 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Spencer Adam Neumann sold 9,248 shares of the company’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 transaction of $700,905.92. Following the sale, the chief financial officer directly owned 73,787 shares in the company, valued at approximately $5,592,316.73. This represents a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 27,312 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $73.54, for a total transaction of $2,008,524.48. Following the sale, the chief executive officer owned 120,931 shares in the company, valued at $8,893,265.74. The trade was a 18.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 600,295 shares of company stock worth $49,056,671. Corporate 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: Wolfe Research raised its Netflix price target to $95 from $84, arguing that viewer-engagement concerns are overstated and that an improving second-half content slate could help the shares. Jim Cramer separately called the stock a tactical buying opportunity after its recent decline. Netflix is primed to move higher as viewer engagement improves, Wolfe Research says
• Positive Sentiment: Netflix is reportedly exploring a broader streaming-subscription hub that could allow customers to sign up for third-party services such as Peacock and Fox One. The strategy could increase convenience, subscription-related revenue, and customer retention. Netflix Stock Climbs on Plans to Become Streaming Subscription Hub
• Positive Sentiment: Expanded NFL-related content and access to rival streaming programming could give Netflix more opportunities to grow its advertising business by increasing engagement and the value of its ad-supported tier. Netflix Stock: NFL Growth and Rival Streaming Access Could Grow Its Ad Business
• Neutral Sentiment: Reports point to an upcoming Netflix preview tied to Grand Theft Auto VI. The event could generate attention and short-term engagement, but its direct financial impact on Netflix is unclear. Dear Netflix Stock Fans, Mark Your Calendars for August 27
• Negative Sentiment: Industry data indicates that streaming price increases are slowing, while premium ad-free plans have received larger hikes than ad-supported tiers. This could limit Netflix’s pricing power and revenue growth if consumers resist further increases. 3-Year Streaming Outlook: Slowing Down Pricing Hikes
• Negative Sentiment: Some investor commentary remains cautious, noting that Netflix’s strong business performance has not consistently translated into share-price momentum and that the recent rebound case may already be reflected in expectations. Here’s the Test, Says Investor About Netflix Stock

Netflix Stock Down 0.9%

Shares of NASDAQ NFLX opened at $81.46 on Thursday. The stock has a market cap of $339.19 billion, a P/E ratio of 25.64, a PEG ratio of 1.03 and a beta of 1.52. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $126.71. The business’s fifty day simple moving average is $74.51 and its 200-day simple moving average is $84.37.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 16th. The Internet television network reported $0.80 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 firm had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $12.58 billion. During the same period in the previous year, the firm posted $0.72 EPS. Netflix’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities analysts predict that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on NFLX shares. Raymond James Financial restated a “market perform” rating on shares of Netflix in a research note on Thursday, May 14th. Barclays dropped their price objective on Netflix from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Friday, July 17th. Guggenheim set a $75.00 price objective on Netflix and gave the company a “buy” rating in a report on Friday, July 17th. Piper Sandler reissued an “overweight” rating and set a $85.00 target price (down from $115.00) on shares of Netflix in a research note on Friday, July 17th. Finally, Pivotal Research lowered their target price on Netflix from $96.00 to $70.00 and set a “hold” rating for the company in a report on Friday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.19.

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.