34,175 Netflix, Inc. $NFLX Shares Acquired by Channel Wealth LLC

Channel Wealth LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 737.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,809 shares of the Internet television network’s stock after purchasing an additional 34,175 shares during the quarter. Channel Wealth LLC’s holdings in Netflix were worth $2,700,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Netflix in the 2nd quarter valued at about $24,902,221,000. State Street Corp increased its stake in shares of Netflix by 4.9% during the 2nd quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock valued at $12,861,252,000 after acquiring an additional 8,474,820 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Netflix by 4.3% during the 1st quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network’s stock valued at $5,571,201,000 after acquiring an additional 2,376,349 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Netflix during the 2nd quarter valued at about $1,906,482,000. Finally, Legal & General Group Plc acquired a new position in shares of Netflix during the 2nd quarter valued at about $1,886,526,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Netflix news, CFO Spencer Neumann sold 9,253 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $66.15, for a total transaction of $612,085.95. Following the completion of the sale, the chief financial officer directly owned 73,787 shares in the company, valued at $4,881,010.05. The trade was a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Theodore Sarandos sold 27,312 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $66.20, for a total transaction of $1,808,054.40. Following the completion of the sale, the chief executive officer directly owned 178,954 shares of the company’s stock, valued at $11,846,754.80. The trade was a 13.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 89,024 shares of company stock valued at $5,788,733 over the last quarter. 1.24% of the stock is owned by insiders.

Analyst Ratings Changes

NFLX has been the topic of several recent analyst reports. Canaccord Genuity Group set a $110.00 price objective on shares of Netflix in a report on Wednesday, October 21st. Itau BBA Securities lowered their target price on shares of Netflix from $151.40 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. Wedbush lowered their target price on shares of Netflix from $105.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, October 16th. KGI Securities lowered shares of Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 price target for the company. in a research report on Friday, July 17th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $80.00 price target (down from $85.00) on shares of Netflix in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $89.14.

Netflix Stock Performance

Netflix stock opened at $62.15 on Friday. The company has a market cap of $255.21 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.92 and a beta of 1.62. Netflix, Inc. has a 12 month low of $61.39 and a 12 month high of $115.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s 50-day moving average is $69.18 and its 200-day moving average is $80.42.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The firm had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.87 billion. During the same quarter in the prior year, the company earned $0.59 EPS. The company’s revenue was up 11.9% on a year-over-year basis. Equities analysts anticipate that Netflix, Inc. will post 3.59 earnings per share for the current year.

Netflix News Summary

Investors following NFLX have been watching these news items:

• Positive Sentiment: Billionaire investor Bill Ackman reiterated his bullish view and called Netflix undervalued, offering a high-profile vote of confidence. Billionaire investor Bill Ackman on why he’s staying bullish on Netflix
• Positive Sentiment: A comparison with Disney characterized Netflix as a global streaming leader with higher net margins and double-digit revenue growth, supporting its long-term business case. Walt Disney vs. Netflix: Which Is the Better Entertainment Stock to Buy Going Into 2027?
• Neutral Sentiment: An analyst floated a possible channel store or Fox One bundle. Bundling could help subscriber retention and reduce churn, but the idea remains speculative. Netflix May Launch Channel Store Or Bundle With Fox One: Analyst

Netflix Profile

Netflix, Inc. is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand. Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.