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

Blodgett Wealth Advisors LLC grew its position in Netflix, Inc. (NASDAQ:NFLX) by 67.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,250 shares of the Internet television network’s stock after acquiring an additional 6,520 shares during the quarter. Netflix comprises 0.8% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 20th largest position. Blodgett Wealth Advisors LLC’s holdings in Netflix were worth $1,160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pacific Sun Financial Corp raised its stake in Netflix by 1.6% in the 3rd quarter. Pacific Sun Financial Corp now owns 574 shares of the Internet television network’s stock valued at $688,000 after purchasing an additional 9 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its stake in Netflix by 9.6% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock worth $137,000 after purchasing an additional 10 shares during the last quarter. Monograph Wealth Advisors LLC boosted its stake in Netflix by 1.8% during the 2nd quarter. Monograph Wealth Advisors LLC now owns 682 shares of the Internet television network’s stock worth $913,000 after purchasing an additional 12 shares during the last quarter. Resources Management Corp CT ADV grew its holdings in shares of Netflix by 2.0% during the second quarter. Resources Management Corp CT ADV now owns 829 shares of the Internet television network’s stock worth $1,110,000 after buying an additional 16 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its holdings in shares of Netflix by 1.4% during the second quarter. Sompo Asset Management Co. Ltd. now owns 1,500 shares of the Internet television network’s stock worth $2,009,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, CEO Theodore A. Sarandos sold 105,850 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $73.03, for a total transaction of $7,730,225.50. Following the completion of the sale, the chief executive officer owned 206,266 shares in the company, valued at $15,063,605.98. This trade represents a 33.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, CEO Gregory K. Peters sold 27,312 shares of Netflix stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $73.54, for a total transaction of $2,008,524.48. Following the sale, the chief executive officer directly owned 120,931 shares in the company, valued at approximately $8,893,265.74. The trade was a 18.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 600,295 shares of company stock valued at $49,056,671 over the last ninety days. Corporate insiders own 1.24% of the company’s stock.

Netflix Stock Down 0.9%

NASDAQ NFLX opened at $81.46 on Thursday. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $126.71. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The business’s fifty day simple moving average is $74.51 and its 200-day simple moving average is $84.37. The firm has a market cap of $339.19 billion, a PE ratio of 25.64, a P/E/G ratio of 1.03 and a beta of 1.52.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The company’s revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts anticipate that Netflix, Inc. will post 3.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Netflix from $128.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, June 10th. Sanford C. Bernstein set a $95.00 price target on shares of Netflix and gave the stock an “outperform” rating in a research report on Friday, July 17th. Wells Fargo & Company set a $80.00 price objective on shares of Netflix and gave the company an “equal weight” rating in a research note on Friday, July 17th. BMO Capital Markets reiterated an “outperform” rating on shares of Netflix in a report on Friday, August 14th. Finally, Stephens assumed coverage on shares of Netflix in a research note on Friday, July 17th. They issued an “overweight” rating on the stock. Four 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 issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.19.

More Netflix News

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 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.