18,147 Netflix, Inc. $NFLX Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 422,839 shares of the Internet television network’s stock after selling 18,147 shares during the period. State of Alaska Department of Revenue’s holdings in Netflix were worth $29,420,000 at the end of the most recent quarter.

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

Netflix Price Performance

NASDAQ NFLX opened at $72.61 on Friday. The firm’s 50 day moving average is $75.25 and its 200-day moving average is $80.73. 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 company has a market capitalization of $302.34 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.00 and a beta of 1.62. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $124.86.

Netflix (NASDAQ:NFLX) last announced 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 net margin of 28.22% and a return on equity of 40.02%. The business had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. Equities research analysts anticipate that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

More Netflix News

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

Several research firms have recently issued reports on NFLX. Robert W. Baird set a $90.00 target price on Netflix and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Bank of America cut their price target on shares of Netflix from $125.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, July 17th. Guggenheim reiterated a “buy” rating and issued a $80.00 price target (up from $75.00) on shares of Netflix in a research report on Thursday, October 1st. Seaport Research Partners lowered shares of Netflix from a “buy” rating to a “neutral” rating in a research note on Monday, July 20th. Finally, Phillip Securities upgraded shares of Netflix from a “moderate buy” rating to a “strong-buy” rating and set a $110.00 price objective for the company in a report on Sunday, July 19th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $94.41.

Insiders Place Their Bets

In other Netflix news, Director Richard Barton sold 2,160 shares of Netflix stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $75.10, for a total value of $162,216.00. Following the sale, the director directly owned 246 shares in the company, valued at approximately $18,474.60. The trade was a 89.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore Sarandos sold 105,850 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $73.03, for a total transaction of $7,730,225.50. Following the sale, the chief executive officer directly owned 206,266 shares in the company, valued at $15,063,605.98. This trade represents a 33.91% 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. Insiders have sold 179,045 shares of company stock valued at $13,132,194 in the last quarter. Company insiders own 1.24% of the company’s stock.

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.