293,519 Netflix, Inc. $NFLX Shares Sold by CenterBook Partners LP

CenterBook Partners LP cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 82.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 61,628 shares of the Internet television network’s stock after selling 293,519 shares during the quarter. CenterBook Partners LP’s holdings in Netflix were worth $4,288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NFLX. Clal Insurance Enterprises Holdings Ltd bought a new stake in Netflix during the 2nd quarter valued at $26,000. Pathway Financial Advisers LLC bought a new stake in Netflix in the 3rd quarter worth $26,000. Sawyer & Company Inc bought a new stake in Netflix in the 3rd quarter worth $27,000. Compound Global Advisors LLC bought a new stake in Netflix in the 2nd quarter worth $29,000. Finally, Burnham & Co LLC bought a new stake in Netflix in the 2nd quarter worth $29,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Down 3.3%

Shares of NFLX stock opened at $63.41 on Friday. 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 company has a market cap of $260.38 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 0.93 and a beta of 1.62. The stock has a 50 day simple moving average of $71.03 and a 200-day simple moving average of $80.97. Netflix, Inc. has a 1-year low of $61.39 and a 1-year high of $116.73.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. The firm had revenue of $12.87 billion for the quarter, compared to analysts’ expectations of $12.87 billion. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. On average, equities research analysts expect that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Spencer Neumann sold 9,253 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $66.15, for a total value of $612,085.95. Following the completion of the transaction, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at $4,881,010.05. This represents a 11.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 A. Sarandos sold 27,312 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $66.20, for a total transaction of $1,808,054.40. Following the completion of the transaction, the chief executive officer owned 178,954 shares in the company, valued at $11,846,754.80. This represents a 13.24% decrease in their ownership of the stock. 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 have sold 70,960 shares of company stock valued at $4,752,050 over the last ninety days. 1.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of several recent analyst reports. TD Cowen reaffirmed a “buy” rating and set a $100.00 price objective on shares of Netflix in a research report on Wednesday, October 21st. Citizens Jmp reiterated a “market perform” rating on shares of Netflix in a report on Wednesday, October 21st. CLSA began coverage on shares of Netflix in a research report on Monday, July 20th. They set an “outperform” rating on the stock. Itau BBA Securities reduced their price target 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. Finally, Daiwa Securities Group lowered their price target on shares of Netflix from $102.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $89.14.

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix ordered Other Worlds: A Stranger Things Adventure, a live-action prequel series. Extending a popular franchise could support viewer engagement, though the financial impact and timing are not yet clear. Article: Stranger Things prequel series
• Positive Sentiment: A valuation analysis argues NFLX could be undervalued, estimating about 23% upside to fair value. This offers a counterpoint to recent weakness, but is an analyst view rather than a company announcement. Article: Netflix stock fair-value analysis
• Neutral Sentiment: CEO Ted Sarandos and CFO Spencer Neumann disclosed share sales, but the transactions were made to cover tax withholding on vested equity awards. That stated purpose makes them a less clear signal about management’s view of the stock. Article: Netflix insider share sales
• Negative Sentiment: Coverage noted NFLX slipping even with the new Stranger Things plans, suggesting the content announcement has not eased near-term selling pressure. The shares are also near their 52-week low and far below their 52-week high, reflecting a weak recent trend. Article: Netflix stock slips despite new Stranger Things plans

Netflix Company 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.