Netflix, Inc. $NFLX Shares Newly Bought by Neumann Capital Management LLC

Neumann Capital Management LLC bought a new position in Netflix, Inc. (NASDAQ:NFLX) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 10,720 shares of the Internet television network’s stock, valued at approximately $746,000.

Several other large investors have also bought and sold shares of NFLX. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Netflix during the second quarter valued at approximately $26,000. Compound Global Advisors LLC bought a new stake in shares of Netflix during the second quarter valued at approximately $29,000. Burnham & Co LLC purchased a new position in Netflix in the 2nd quarter worth approximately $29,000. Merkkuri Wealth Advisors LLC purchased a new position in Netflix in the 1st quarter worth approximately $31,000. Finally, Bayban raised its holdings in Netflix by 400.0% in the 1st quarter. Bayban now owns 350 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 280 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix News Summary

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

Insider Buying and Selling

In related news, insider David Hyman sold 5,723 shares of Netflix stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $72.85, for a total value of $416,920.55. Following the completion of the sale, the insider owned 316,100 shares of the company’s stock, valued at $23,027,885. The trade was a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Neumann sold 9,248 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $5,592,316.73. This trade represents a 11.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 179,045 shares of company stock valued at $13,132,194 over the last ninety days. 1.24% of the stock is owned by insiders.

Netflix Trading Up 2.9%

NASDAQ:NFLX opened at $72.61 on Friday. The company has a market cap 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. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. The company has a 50 day simple moving average of $75.25 and a two-hundred day simple moving average of $80.73. Netflix, Inc. has a 12 month low of $65.08 and a 12 month high of $124.86.

Netflix (NASDAQ:NFLX) last released 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. The firm had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.58 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. Research analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on NFLX shares. Rothschild & Co Redburn cut their target price on Netflix from $120.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. KGI Securities lowered Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 target price for the company. in a report on Friday, July 17th. Citigroup restated a “market perform” rating on shares of Netflix in a research note on Thursday. Jefferies Financial Group set a $85.00 price target on Netflix and gave the company a “buy” rating in a report on Thursday. Finally, Guggenheim reaffirmed a “buy” rating and set a $80.00 price target (up from $75.00) on shares of Netflix in a report on Thursday, October 1st. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.41.

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.