10,800 Shares of Netflix, Inc. $NFLX Bought by Sanders Morris Harris LLC

Sanders Morris Harris LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) during the third quarter, HoldingsChannel.com reports. The fund bought 10,800 shares of the Internet television network’s stock, valued at approximately $749,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Netflix during the second quarter worth about $26,000. Compound Global Advisors LLC purchased a new position in shares of Netflix during the second quarter valued at approximately $29,000. Burnham & Co LLC purchased a new position in shares of Netflix during the second quarter valued at approximately $29,000. Merkkuri Wealth Advisors LLC purchased a new position in shares of Netflix during the first quarter valued at approximately $31,000. Finally, Bayban boosted its position in Netflix by 400.0% during the first 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 currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. TD Cowen reaffirmed a “buy” rating and issued a $100.00 target price on shares of Netflix in a research note on Monday, October 5th. Robert W. Baird set a $90.00 price target on Netflix and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Phillip Securities raised Netflix from a “moderate buy” rating to a “strong-buy” rating and set a $110.00 price target on the stock in a research note on Sunday, July 19th. CLSA initiated coverage on Netflix in a report on Monday, July 20th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Company downgraded Netflix from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $80.00 to $57.00 in a research report on Friday, September 18th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $94.53.

Netflix Stock Up 0.2%

Shares of NASDAQ NFLX opened at $70.57 on Thursday. Netflix, Inc. has a 52-week low of $65.08 and a 52-week high of $124.86. The firm has a fifty day moving average of $75.27 and a 200-day moving average of $80.87. The stock has a market capitalization of $293.85 billion, a PE ratio of 22.21, a P/E/G ratio of 0.99 and a beta of 1.62. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39.

Netflix (NASDAQ:NFLX) last issued its earnings results 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. Netflix had a return on equity of 40.02% and a net margin of 28.22%. The business had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.58 billion. During the same period last year, the company posted $0.72 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current year.

Insider Activity

In other Netflix news, CEO Gregory Peters sold 27,312 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $73.54, for a total transaction of $2,008,524.48. Following the completion of the sale, the chief executive officer directly owned 120,931 shares in the company, valued at $8,893,265.74. This represents a 18.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David Hyman sold 5,723 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 316,100 shares in the company, valued at approximately $23,027,885. This trade represents a 1.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 179,045 shares of company stock valued at $13,132,194 in the last 90 days. 1.24% of the stock is owned by corporate insiders.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix plans to eliminate approximately 6% of its global workforce, primarily across product, technology, legal and human-resources functions. Management says the restructuring will improve discipline and redirect resources toward future investments, potentially supporting margins and efficiency. Netflix is laying off roughly 6% of its workforce
• Positive Sentiment: Some analysts and investors remain constructive, arguing that Netflix’s profitable operating model, international growth and ability to reinvent its business could make the recent selloff a buying opportunity. The shares trade at roughly 22 times trailing earnings. Forget Selling Netflix: NFLX Is the Streaming Stock I’m Buying More Of
• Positive Sentiment: Netflix secured exclusive rights to the 2030 FIFA World Cup in Spain and Andorra, offering a potential engagement and subscriber-acquisition catalyst. Netflix Stock Scores as It Lands 2030 World Cup Rights
• Neutral Sentiment: Investors will look to the October 20 earnings report for evidence that revenue growth, free cash flow and viewing trends are stabilizing. Analysts expect earnings growth, but recent estimates have been trimmed modestly. Netflix Is Set to Release Earnings on Oct. 20
• Negative Sentiment: The layoffs are also being interpreted as evidence that growth and user engagement have cooled. Reports cite stronger competition from YouTube and other streaming services, while Netflix seeks to keep audiences watching. Netflix to cut 1,000 jobs as growth concerns mount
• Negative Sentiment: App-tracking data reportedly showed a 16.6% increase in U.S. churn, adding to concerns about weaker domestic demand ahead of earnings. Netflix Has New Warning Signs Ahead of Q3 Earnings
• Negative Sentiment: Analyst downgrades and lower price targets reflect concerns about rising content costs, slowing viewership and whether cost-cutting alone can solve Netflix’s engagement problem. Netflix Stock Is Double Downgraded by Huber Research

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.