Corrado Advisors LLC Makes New Investment in Netflix, Inc. $NFLX

Corrado Advisors LLC bought a new position in Netflix, Inc. (NASDAQ:NFLX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 185 shares of the Internet television network’s stock, valued at approximately $248,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Austin Private Wealth LLC increased its holdings in Netflix by 15.6% in the second quarter. Austin Private Wealth LLC now owns 913 shares of the Internet television network’s stock worth $1,223,000 after purchasing an additional 123 shares in the last quarter. James Investment Research Inc. increased its holdings in Netflix by 2.4% in the second quarter. James Investment Research Inc. now owns 1,899 shares of the Internet television network’s stock worth $2,543,000 after purchasing an additional 45 shares in the last quarter. New York Life Investment Management LLC increased its holdings in Netflix by 1.2% in the second quarter. New York Life Investment Management LLC now owns 57,951 shares of the Internet television network’s stock worth $77,604,000 after purchasing an additional 664 shares in the last quarter. Trust Investment Advisors bought a new stake in Netflix in the second quarter worth approximately $228,000. Finally, Integral Investment Advisors Inc. increased its holdings in Netflix by 4.4% in the second quarter. Integral Investment Advisors Inc. now owns 494 shares of the Internet television network’s stock worth $661,000 after purchasing an additional 21 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the transaction, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,290,418.40. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory K. Peters sold 2,026 shares of Netflix stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the transaction, the chief executive officer directly owned 12,781 shares in the company, valued at approximately $14,793,240.64. The trade was a 13.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 104,100 shares of company stock valued at $122,710,980 over the last 90 days. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $1,400.00 target price (down from $1,500.00) on shares of Netflix in a report on Wednesday, October 22nd. Robert W. Baird lifted their target price on Netflix from $1,300.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Jefferies Financial Group reiterated a “buy” rating and issued a $1,500.00 target price on shares of Netflix in a report on Wednesday, October 22nd. The Goldman Sachs Group decreased their price objective on Netflix from $1,310.00 to $1,300.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. Finally, Pivotal Research reaffirmed a “buy” rating on shares of Netflix in a research report on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $1,344.64.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,102.50 on Wednesday. The firm has a market capitalization of $467.16 billion, a price-to-earnings ratio of 46.05, a PEG ratio of 1.89 and a beta of 1.59. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a twelve month low of $747.77 and a twelve month high of $1,341.15. The stock’s 50 day moving average is $1,201.97 and its 200-day moving average is $1,191.47.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.88 by ($1.01). The company had revenue of $11.51 billion for the quarter, compared to analysts’ expectations of $11.52 billion. Netflix had a net margin of 24.05% and a return on equity of 41.86%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.40 EPS. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Netflix Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.