Concord Investment Counsel Inc. Purchases Shares of 130,572 Netflix, Inc. $NFLX

Concord Investment Counsel Inc. acquired a new position in Netflix, Inc. (NASDAQ:NFLX) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 130,572 shares of the Internet television network’s stock, valued at approximately $9,273,000. Netflix accounts for 2.5% of Concord Investment Counsel Inc.’s investment portfolio, making the stock its 18th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its position in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after buying an additional 144 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Netflix by 21.2% during the second quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network’s stock valued at $1,883,000 after buying an additional 246 shares in the last quarter. Strategic Investment Advisors MI grew its stake in Netflix by 18.9% during the second quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network’s stock worth $1,036,000 after buying an additional 123 shares during the period. Finally, Schnieders Capital Management LLC. grew its stake in Netflix by 12.1% during the second quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network’s stock worth $2,832,000 after buying an additional 228 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Down 0.7%

NFLX opened at $79.59 on Friday. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $126.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $331.41 billion, a PE ratio of 25.05, a P/E/G ratio of 1.01 and a beta of 1.52. The firm’s fifty day moving average price is $74.39 and its 200 day moving average price is $84.34.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. The company had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. As a group, research analysts expect that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the topic of a number of research reports. Wedbush cut their target price on shares of Netflix from $118.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Erste Group Bank cut shares of Netflix from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Jefferies Financial Group cut their price objective on Netflix from $128.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, June 10th. KGI Securities cut Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 price objective on the stock. in a research note on Friday, July 17th. Finally, TD Cowen decreased their target price on Netflix from $112.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.48.

Insider Buying and Selling at Netflix

In related news, CEO Theodore A. 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 value of $7,730,225.50. Following the completion of the sale, the chief executive officer directly owned 206,266 shares of the company’s stock, valued at $15,063,605.98. The trade was a 33.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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, CFO Spencer Adam Neumann sold 9,248 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $75.79, for a total value of $700,905.92. Following the sale, the chief financial officer owned 73,787 shares in the company, valued at $5,592,316.73. The trade was a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 600,295 shares of company stock valued at $49,056,671. Corporate insiders own 1.24% of the company’s stock.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix continues to grow faster than many streaming rivals, and its lower valuation after the selloff could provide significant upside if revenue, advertising and engagement trends remain strong. A valuation model described the current setup as potentially asymmetric in investors’ favor. Netflix Is Down 40% From Its All-Time High Could Netflix Stock Double From Here?
• Positive Sentiment: JPMorgan analyst Doug Anmuth maintained an Overweight rating and an $85 price target, citing Netflix’s content pipeline and multiple initiatives to support engagement and revenue growth. The view suggests potential upside from current levels, although the analyst sees no single catalyst guaranteeing acceleration. Netflix Has No Single Silver Bullet
• Positive Sentiment: Netflix’s advertising-supported tier and broad content offering could make the company relatively resilient during a recession, as consumers may retain lower-cost entertainment subscriptions even amid economic pressure. Which Streaming Stock Would Hold Up Better in a Recession?
• Neutral Sentiment: Representatives for Meghan of Sussex reportedly held exploratory discussions about a possible role in a third season of The Gentlemen. Netflix has not ordered the season, so the potential casting has no immediate financial impact. Meghan of Sussex Eyes Role in Netflix Show The Gentlemen
• Negative Sentiment: With Netflix no longer emphasizing subscriber numbers, investors must rely more heavily on revenue growth, advertising performance, engagement and profitability metrics. That makes it harder to assess momentum and contributes to debate over whether the stock’s decline reflects a bargain or slowing growth. Netflix Is Down 40% From Its All-Time High
• Negative Sentiment: YouTube is reportedly offering creators substantial payments and warning that simultaneous Netflix deals could jeopardize marketing support and brand-campaign revenue. This could intensify competition for exclusive content and creator attention. YouTube Offers Creators Millions to Avoid Netflix Deals

About Netflix

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.