Andra AP fonden Sells 16,140 Shares of Netflix, Inc. $NFLX

Andra AP fonden lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 469,050 shares of the Internet television network’s stock after selling 16,140 shares during the period. Andra AP fonden’s holdings in Netflix were worth $33,490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Netflix in the second quarter valued at about $24,902,221,000. State Street Corp grew its stake in Netflix by 4.9% in the second quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock valued at $12,861,252,000 after purchasing an additional 8,474,820 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Netflix by 892.0% during the 4th quarter. Geode Capital Management LLC now owns 99,598,678 shares of the Internet television network’s stock worth $9,305,336,000 after purchasing an additional 89,558,684 shares during the last quarter. Capital World Investors raised its stake in shares of Netflix by 859.1% during the 4th quarter. Capital World Investors now owns 89,341,444 shares of the Internet television network’s stock worth $8,376,656,000 after purchasing an additional 80,025,890 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Netflix in the 4th quarter valued at approximately $5,803,248,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NASDAQ NFLX traded down $1.43 during trading hours on Tuesday, reaching $71.94. 16,992,276 shares of the stock were exchanged, compared to its average volume of 42,875,742. The firm has a market capitalization of $299.53 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 1.01 and a beta of 1.53. The stock’s fifty day simple moving average is $75.81 and its 200 day simple moving average is $83.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $124.86.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $12.58 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Sell-side analysts predict that Netflix, Inc. will post 3.59 EPS for the current year.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Neumann sold 9,248 shares of the 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 transaction, the chief financial officer owned 73,787 shares in the company, valued at $5,592,316.73. This represents a 11.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Theodore Sarandos sold 27,312 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $73.35, for a total transaction of $2,003,335.20. Following the transaction, the chief executive officer directly owned 178,954 shares in the company, valued at $13,126,275.90. This represents a 13.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last ninety days, insiders have sold 179,045 shares of company stock worth $13,132,194. Company insiders own 1.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings cut shares of Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft set a $110.00 price objective on shares of Netflix in a research note on Monday, July 20th. Wolfe Research reaffirmed an “outperform” rating and issued a $95.00 target price (up from $84.00) on shares of Netflix in a report on Tuesday, August 25th. Moffett Nathanson cut their target price on shares of Netflix from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 17th. Finally, TD Cowen reduced their price target on Netflix from $112.00 to $100.00 and set a “buy” 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 given a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.51.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bill Ackman’s Pershing Square disclosed a roughly $1 billion Netflix position, signaling confidence that the company’s current business prospects are stronger than when Ackman exited the stock in 2022. Ackman Bets $1 Billion on Netflix Redemption After $400 Million 2022 Loss
• Positive Sentiment: BMO argued that investors may be overly negative after Netflix’s more than 20% year-to-date decline, while other analysts said valuation and the company’s long-term cash-generation potential could limit further downside. Investors Are Overly Negative, Says BMO About Netflix Stock
• Neutral Sentiment: Netflix’s next quarterly report, expected around October 20, is becoming an important catalyst as investors look for evidence that subscriber engagement, content performance and revenue growth remain healthy. Should You Buy Netflix Stock Before Oct. 20?
• Neutral Sentiment: Netflix’s decision to stay out of the potential Paramount-Warner Bros. Discovery transaction avoids acquisition risk, but it also leaves the company without the additional scale or content assets that a deal could have provided. Paramount Could Acquire Warner Bros. Discovery Sooner Than Expected
• Negative Sentiment: HSBC downgraded Netflix from Buy to Hold and reduced its price target by 21% to $76, citing a less favorable risk-reward profile. Netflix Stock Falls after HSBC Downgrade and 21% Price Target Cut
• Negative Sentiment: Wells Fargo cut Netflix to Underweight and lowered its target to $57 from $80, pointing to engagement concerns, intensifying competition and a deceleration in growth. These calls have reinforced the recent selloff and pushed shares below their long-term moving averages. Wells Fargo Cuts Netflix to Underweight

Netflix Company Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming access to television series, films, documentaries and other video content. Its service includes Netflix-produced and licensed programming, with offerings that may vary by market. The company also provides an advertising-supported plan in selected countries and has expanded into mobile games and other interactive entertainment.

Netflix was founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental service in the United States.