83,187 Netflix, Inc. $NFLX Shares Sold by GFG Capital LLC

by · The Cerbat Gem

GFG Capital LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 87.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,526 shares of the Internet television network’s stock after selling 83,187 shares during the quarter. GFG Capital LLC’s holdings in Netflix were worth $802,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Netflix in the second quarter valued at $26,000. Compound Global Advisors LLC acquired a new stake in Netflix during the second quarter worth about $29,000. Burnham & Co LLC acquired a new stake in shares of Netflix in the second quarter worth $29,000. Merkkuri Wealth Advisors LLC purchased a new position in shares of Netflix in the 1st quarter valued at $31,000. Finally, Bayban raised its position in Netflix by 400.0% in the first quarter. Bayban now owns 350 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 280 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In other news, CEO Theodore A. Sarandos sold 27,312 shares of Netflix stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $73.35, for a total value of $2,003,335.20. Following the transaction, the chief executive officer owned 178,954 shares in the company, valued at approximately $13,126,275.90. This trade represents a 13.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 on Monday, August 10th. The stock was 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 in the company, valued at $5,592,316.73. This represents a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 179,045 shares of company stock worth $13,132,194. Company insiders own 1.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NFLX. CLSA started coverage on shares of Netflix in a research note on Monday, July 20th. They issued an “outperform” rating for the company. KeyCorp lowered their price target on Netflix from $92.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday. HSBC cut Netflix from a “buy” rating to a “hold” rating and lowered their target price for the company from $96.00 to $76.00 in a research report on Tuesday, September 22nd. Guggenheim reiterated a “buy” rating and issued a $80.00 price objective (up from $75.00) on shares of Netflix in a report on Thursday, October 1st. Finally, KGI Securities lowered Netflix from an “outperform” rating to a “neutral” rating and set a $75.00 target price on the stock. in a report on Friday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.82.

Read Our Latest Report on Netflix

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $70.53 on Friday. The stock has a market capitalization of $293.68 billion, a P/E ratio of 22.20, a P/E/G ratio of 1.02 and a beta of 1.62. The business has a 50-day moving average price of $75.17 and a two-hundred day moving average price of $80.66. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39. Netflix, Inc. has a 1-year low of $65.08 and a 1-year high of $124.86.

Netflix (NASDAQ:NFLX – Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. The firm had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 earnings per share. Equities analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

Key Netflix News

Here are the key news stories impacting Netflix this week:

  • Positive Sentiment: Jefferies upgraded Netflix (NFLX) to “strong buy,” citing potential support from pricing increases and advertising growth. Wedbush also maintained an “outperform” rating, although it lowered its price target to $90 from $105. Netflix stock gets bullish analyst call
  • Positive Sentiment: Options activity is signaling expectations for a substantial post-earnings move, while sentiment remains bullish in some derivatives markets. Technical analysts also see a possible double-bottom pattern, with a break above $83.60 potentially opening a path toward $102.12. Barchart Netflix earnings outlook
  • Neutral Sentiment: Netflix is replacing Chief Content Officer Bela Bajaria with former Disney and Fox executive Peter Rice. His experience across scripted programming, live sports, unscripted content and theatrical distribution could help Netflix develop new hits, but the abrupt change before earnings highlights pressure to improve engagement. Netflix appoints Peter Rice
  • Negative Sentiment: Netflix announced plans to eliminate about 1,000 jobs, or 6% of its workforce, one day before the content-chief transition. Although the cuts may improve efficiency, investors viewed them as evidence of a sharper growth reset and concerns about the company’s content strategy. Netflix shares under pressure after content chief departure
  • Negative Sentiment: Pre-earnings concerns include slowing viewership, rising churn, declining engagement and intensifying competition. Analysts also warn that Netflix’s premium valuation leaves little room for disappointing guidance, while options traders anticipate a move that could take the stock toward a two-year low. Netflix Q3 earnings outlook

About Netflix

(Free Report)

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.

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