Netflix, Inc. $NFLX Stake Lessened by Provident Investment Management Inc.

Provident Investment Management Inc. cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 97.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,145 shares of the Internet television network’s stock after selling 307,352 shares during the quarter. Provident Investment Management Inc.’s holdings in Netflix were worth $636,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Netflix in the 2nd quarter valued at approximately $24,902,221,000. State Street Corp raised its holdings in shares of Netflix by 4.9% in the 2nd quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock valued at $12,861,252,000 after purchasing an additional 8,474,820 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Netflix by 4.3% during the 1st quarter. Bank of America Corp DE now owns 57,942,812 shares of the Internet television network’s stock worth $5,571,201,000 after purchasing an additional 2,376,349 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Netflix during the 2nd quarter worth $1,906,482,000. Finally, Legal & General Group Plc purchased a new stake in shares of Netflix during the 2nd quarter worth $1,886,526,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on NFLX shares. CLSA initiated coverage on shares of Netflix in a research note on Monday, July 20th. They set an “outperform” rating for the company. KeyCorp cut their price target on Netflix from $92.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 13th. Bank of America decreased their price target on Netflix from $105.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, October 21st. China Renaissance decreased their price target on Netflix from $100.00 to $80.00 and set a “hold” rating for the company in a report on Friday, July 17th. Finally, Needham & Company LLC cut Netflix from a “buy” rating to a “hold” rating in a research report on Wednesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.59.

Insider Activity at Netflix

In other 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 approximately $15,063,605.98. The trade was a 33.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Neumann sold 9,248 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $75.79, for a total value of $700,905.92. Following the completion of the sale, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at $5,592,316.73. The trade was a 11.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 179,045 shares of company stock valued at $13,132,194. Corporate insiders own 1.24% of the company’s stock.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix reported third-quarter EPS of $0.87, ahead of the $0.82 consensus estimate, while revenue reached $12.87 billion. Operating margin rose to 34.6%, supporting the argument that the core streaming business remains highly profitable. Can Netflix Stock Hold Margin Gains as Content Spending Keeps Growing?
• Positive Sentiment: Longer-term bulls argue that Netflix’s profitability, systematic share repurchases, local-language content, and continued subscriber retention could create meaningful upside after the sell-off. Bill Ackman has also returned to the stock and expects annualized returns above 20%. Bill Ackman Lost $400 Million on Netflix
• Positive Sentiment: Ark Invest’s Cathie Wood bought 18,000 Netflix shares, signaling that some growth-oriented investors view the two-year-low valuation as an opportunity. Cathie Wood Just Bought Netflix Stock
• Neutral Sentiment: Netflix is reportedly planning layoffs at its Bay Area headquarters. The cuts could reduce costs, but they also raise questions about operating priorities and employee productivity. Netflix Stock Slips as Layoffs Hit Bay Area Headquarters
• Neutral Sentiment: Paramount Skydance’s completed merger highlights intensifying competition for scale and content across the entertainment industry, potentially increasing pressure on Netflix to sustain its content advantage. Could Skydance Be Bigger Than Disney?
• Negative Sentiment: Management reduced its 2026 advertising-revenue outlook to approximately $2.7 billion from about $3 billion. Softer ad growth undermines a major part of Netflix’s expansion thesis and overshadowed the earnings beat. Netflix Cut Its 2026 Ad Forecast by $300 Million
• Negative Sentiment: Disappointing fourth-quarter revenue guidance and decelerating growth have led investors to discount the strong quarterly results. Netflix’s reduced 2026 free-cash-flow outlook is another concern as content spending continues to rise. Netflix Has Lower FCF Guidance
• Negative Sentiment: Several analysts lowered their price targets or ratings after the report. One fair-value estimate fell from $92.62 to $86.24, while UBS, Guggenheim, and Needham adopted more cautious views. Netflix Stock Fair Value Falls After Cautious Q3 Analyst Revisions
• Negative Sentiment: Reports indicate viewing time is declining even though subscribers are staying, suggesting weaker engagement. YouTube and lower-cost streaming alternatives may also be contributing to slower revenue growth. Netflix Is Losing Viewers

Netflix Stock Performance

Shares of Netflix stock opened at $65.85 on Monday. The company has a fifty day simple moving average of $74.27 and a 200-day simple moving average of $79.50. Netflix, Inc. has a 12-month low of $64.10 and a 12-month high of $116.73. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. The stock has a market cap of $270.40 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 0.96 and a beta of 1.62.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The firm had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.87 billion. During the same period last year, the firm posted $0.59 EPS. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Netflix Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming services. Its platform offers a broad selection of television series, films, documentaries, stand-up specials and other programming, including content produced by Netflix and licensed from third-party studios and creators.

The company also develops and distributes original productions under the Netflix brand and has expanded into additional entertainment offerings, including mobile and cloud-based games in select markets and live programming.