Waycross Investment Management Co Purchases New Shares in Netflix, Inc. $NFLX

Waycross Investment Management Co acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the third quarter, HoldingsChannel.com reports. The firm acquired 15,519 shares of the Internet television network’s stock, valued at approximately $1,080,000.

A number of other hedge funds have also modified their holdings of NFLX. American Capital Advisory LLC boosted its stake in shares of Netflix by 0.8% during the first quarter. American Capital Advisory LLC now owns 13,990 shares of the Internet television network’s stock worth $1,345,000 after buying an additional 109 shares during the period. CWS Financial Advisors LLC increased its holdings in shares of Netflix by 3.2% in the first quarter. CWS Financial Advisors LLC now owns 3,612 shares of the Internet television network’s stock valued at $347,000 after purchasing an additional 112 shares during the period. Warner Group LLC raised its stake in shares of Netflix by 2.2% during the first quarter. Warner Group LLC now owns 5,230 shares of the Internet television network’s stock worth $503,000 after purchasing an additional 114 shares during the last quarter. Financial Avengers Inc. lifted its holdings in shares of Netflix by 9.8% during the first quarter. Financial Avengers Inc. now owns 1,290 shares of the Internet television network’s stock worth $124,000 after purchasing an additional 115 shares during the period. Finally, PAX Financial Group LLC grew its position in Netflix by 2.5% in the 1st quarter. PAX Financial Group LLC now owns 4,847 shares of the Internet television network’s stock valued at $466,000 after buying an additional 116 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix secured exclusive rights to broadcast the 2030 FIFA World Cup in Spain and Andorra, potentially strengthening its sports offering and creating another opportunity to attract and retain subscribers. Netflix secures 2030 World Cup rights
• Positive Sentiment: Some investors remain constructive after the stock’s roughly 40% decline over the past year, arguing that Netflix’s profitability, international growth and opportunities beyond subscriber expansion could support a recovery. Netflix growth opportunities beyond subscribers
• Neutral Sentiment: Netflix reports third-quarter results on October 20. Investors are expected to focus on revenue growth, U.S. and international trends, free cash flow, content spending and management’s outlook. Netflix upcoming earnings and free cash flow
• Negative Sentiment: Netflix is eliminating approximately 1,000 jobs, or 6% of its global workforce, in its largest reduction since 2022. The cuts may reduce expenses, but their timing suggests management is responding to slowing growth, weaker engagement and intensifying competition for viewers. Netflix cuts about 6% of jobs
• Negative Sentiment: App data from Apptopia reportedly showed U.S. churn rising 16.6%, raising concerns that Netflix is having difficulty maintaining engagement in its home market as viewers face more competing entertainment options. Netflix U.S. app churn rises
• Negative Sentiment: Analyst pressure has increased ahead of earnings: Huber Research downgraded NFLX to Sell, while KeyBanc lowered its price target despite retaining an Overweight rating. Concerns include slowing viewership, rising content costs and margin pressure. Netflix analyst downgrade

Netflix Price Performance

NFLX stock traded down $0.53 on Wednesday, reaching $69.93. The company had a trading volume of 18,604,005 shares, compared to its average volume of 42,154,082. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.14. The company’s fifty day moving average is $75.34 and its 200 day moving average is $81.03. The company has a market cap of $291.19 billion, a P/E ratio of 22.00, a PEG ratio of 1.00 and a beta of 1.62. Netflix, Inc. has a 1 year low of $65.08 and a 1 year 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, topping analysts’ consensus estimates of $0.79 by $0.01. The company had revenue of $12.56 billion during 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 business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. On average, research analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wolfe Research restated an “outperform” rating and issued a $95.00 target price (up from $84.00) on shares of Netflix in a research note on Tuesday, August 25th. Robert W. Baird set a $90.00 target price on Netflix and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Bank of America decreased their price target on Netflix from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Guggenheim reissued a “buy” rating and set a $80.00 price objective (up from $75.00) on shares of Netflix in a report on Thursday, October 1st. Finally, Phillip Securities raised shares of Netflix from a “moderate buy” rating to a “strong-buy” rating and set a $110.00 target price for the company in a report on Sunday, July 19th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.53.

Insider Buying and Selling

In other news, CFO Spencer Neumann sold 9,248 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $75.79, for a total transaction of $700,905.92. Following the completion of the sale, the chief financial officer directly owned 73,787 shares in the company, valued at $5,592,316.73. This represents a 11.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard Barton sold 2,160 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $75.10, for a total value of $162,216.00. Following the completion of the transaction, the director owned 246 shares in the company, valued at approximately $18,474.60. This trade represents a 89.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 179,045 shares of company stock worth $13,132,194 over the last 90 days. Company insiders own 1.24% of the company’s stock.

Netflix Company Profile

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.