Weaver Capital Management LLC Sells 7,970 Shares of Netflix, Inc. $NFLX

Weaver Capital Management LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 19.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,896 shares of the Internet television network’s stock after selling 7,970 shares during the period. Weaver Capital Management LLC’s holdings in Netflix were worth $2,358,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Netflix during the second quarter worth about $24,902,221,000. Invesco Ltd. lifted its holdings in Netflix by 835.9% in the fourth quarter. Invesco Ltd. now owns 43,462,696 shares of the Internet television network’s stock worth $4,075,062,000 after acquiring an additional 38,818,947 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Netflix in the second quarter worth about $1,906,482,000. Legal & General Group Plc acquired a new position in Netflix in the second quarter valued at approximately $1,886,526,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Netflix in the second quarter valued at approximately $1,481,303,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Up 2.9%

Shares of NASDAQ:NFLX opened at $72.61 on Friday. The company has a market cap of $302.34 billion, a PE ratio of 22.85, a P/E/G ratio of 1.00 and a beta of 1.62. The company’s 50-day moving average price is $75.25 and its 200 day moving average price is $80.73. Netflix, Inc. has a fifty-two week low of $65.08 and a fifty-two week high of $124.86. 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 (NASDAQ:NFLX) last posted its earnings results 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. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. During the same period in the previous year, the business posted $0.72 EPS. Netflix’s revenue was up 13.4% on a year-over-year basis. Sell-side analysts anticipate that Netflix, Inc. will post 3.59 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Gregory Peters sold 27,312 shares of Netflix 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 of the company’s stock, valued at approximately $8,893,265.74. The trade was a 18.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Theodore Sarandos sold 27,312 shares of the business’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 value of $2,003,335.20. Following the transaction, the chief executive officer owned 178,954 shares of the company’s stock, valued at approximately $13,126,275.90. This represents a 13.24% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 179,045 shares of company stock valued at $13,132,194 in the last ninety days. Insiders own 1.24% of the company’s stock.

Key Headlines Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Jefferies initiated coverage with a Buy rating and an $85 price target, citing potential revenue support from subscription-price increases and advertising. Netflix stock gets bullish analyst call ahead of next week’s earnings
• Positive Sentiment: Netflix named former Disney and Fox executive Peter Rice as chief content officer, replacing Bela Bajaria. Rice’s experience could help Netflix improve its content strategy and viewer engagement as competition intensifies. Netflix names former Disney executive Rice as new content chief
• Neutral Sentiment: Netflix will release third-quarter results on October 20. Wall Street estimates for revenue, earnings and operating metrics may drive volatility as investors look for evidence that pricing, advertising and content investments are offsetting weaker engagement. Ahead of Netflix Q3 earnings
• Negative Sentiment: Netflix is eliminating roughly 1,000 positions, or 6% of its workforce, its largest reduction since 2022. Management described the move as a resource-allocation and efficiency effort, but investors may view it as evidence of slowing growth and pressure to control costs. Netflix is laying off roughly 6% of its workforce
• Negative Sentiment: Reports citing app data indicate U.S. churn has risen and viewing engagement has weakened. Those trends raise questions about Netflix’s ability to retain subscribers amid competition from other streaming services, YouTube and creator-led video. Netflix warning signs ahead of Q3 earnings

Analyst Ratings Changes

NFLX has been the subject of several recent research reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Netflix in a report on Tuesday, September 22nd. Deutsche Bank Aktiengesellschaft upgraded Netflix from a “hold” rating to a “buy” rating and dropped their price target for the stock from $100.00 to $95.00 in a research report on Tuesday, September 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $90.00 price target on shares of Netflix in a report on Tuesday, October 6th. Weiss Ratings upgraded Netflix from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Loop Capital reduced their price objective on Netflix from $115.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.41.

About Netflix

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.