Netflix, Inc. $NFLX Shares Purchased by QRG Capital Management Inc.

by · The Cerbat Gem

QRG Capital Management Inc. grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 4.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 861,135 shares of the Internet television network’s stock after purchasing an additional 33,742 shares during the period. QRG Capital Management Inc.’s holdings in Netflix were worth $61,485,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. grew its stake in shares of Netflix by 7.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 340,601 shares of the Internet television network’s stock valued at $24,312,000 after buying an additional 24,446 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Netflix by 0.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,449,012 shares of the Internet television network’s stock worth $389,057,000 after acquiring an additional 33,933 shares in the last quarter. State Street Corp boosted its holdings in Netflix by 4.9% in the 2nd quarter. State Street Corp now owns 180,129,582 shares of the Internet television network’s stock worth $12,861,252,000 after acquiring an additional 8,474,820 shares during the period. Altar Rock LLC boosted its holdings in Netflix by 10.6% in the 2nd quarter. Altar Rock LLC now owns 4,343 shares of the Internet television network’s stock worth $310,000 after acquiring an additional 415 shares during the period. Finally, Security National Bank of SO Dak grew its position in Netflix by 462.0% in the second quarter. Security National Bank of SO Dak now owns 14,725 shares of the Internet television network’s stock valued at $1,051,000 after acquiring an additional 12,105 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on NFLX shares. Weiss Ratings lowered shares of Netflix from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 26th. Robert W. Baird set a $90.00 price target on shares of Netflix and gave the company an “outperform” rating in a report on Wednesday, July 22nd. Bank of America dropped their price target on shares of Netflix from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. China Renaissance cut their price objective on shares of Netflix from $100.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, July 17th. Finally, Jefferies Financial Group decreased their price objective on shares of Netflix from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, July 17th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.51.

Get Our Latest Stock Analysis on Netflix

Key Netflix News

Here are the key news stories impacting Netflix this week:

  • Positive Sentiment: Some analysts believe substantial negative sentiment is already reflected in Netflix’s valuation. Supporters point to the company’s strong profitability, continued earnings growth potential and a price-to-earnings ratio near 22, arguing that the pullback could create a longer-term buying opportunity. Netflix Stock Valuations Seem Attractive Amidst Growth Deceleration Concerns
  • Positive Sentiment: Netflix’s efforts to expand into live sports, advertising, video podcasts and short-form content could provide new engagement and monetization opportunities. Disney’s higher Disney+ and Hulu prices may also reduce the pricing gap with Netflix’s premium plans, potentially supporting Netflix’s perceived value. Disney Raises Disney+ and Hulu Streaming Prices
  • Neutral Sentiment: Wall Street’s outlook is divided. While some investors continue to view Netflix as a high-quality growth company with meaningful earnings potential through 2030, other analysts have sharply reduced their targets, creating unusually wide differences in expectations for the stock.
  • Negative Sentiment: HSBC downgraded Netflix to Hold from Buy and cut its price target to $76 from $96, citing a widening viewing-time gap with Alphabet’s YouTube and weaker near-term engagement. The concern is that YouTube is capturing more viewer hours, potentially limiting Netflix’s pricing power, advertising growth and ability to sustain subscriber momentum. This Analyst Just Downgraded Netflix Stock, And YouTube May Be to Blame
  • Negative Sentiment: Recent Wells Fargo and Zacks commentary adds to the pressure: Wells Fargo previously cut Netflix to Underweight with a $57 target, while Zacks rates the shares a No. 4, or Sell. Together, the calls have intensified concerns that Netflix’s engagement initiatives may take time to offset rising competition.

Netflix Stock Down 1.1%

NFLX stock traded down $0.80 during mid-day trading on Wednesday, hitting $71.36. 32,742,656 shares of the company were exchanged, compared to its average volume of 42,920,652. The firm has a fifty day simple moving average of $75.78 and a 200 day simple moving average of $83.68. The company has a market capitalization of $297.14 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.03 and a beta of 1.53. Netflix, Inc. has a twelve month low of $65.08 and a twelve month high of $124.86. 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 (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, beating 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 firm had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. During the same period in the previous year, the company earned $0.72 earnings per share. Netflix’s quarterly revenue was up 13.4% on a year-over-year basis. On average, research analysts forecast that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, insider David Hyman sold 5,723 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $72.85, for a total transaction of $416,920.55. Following the completion of the sale, the insider owned 316,100 shares in the company, valued at $23,027,885. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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 sale, the chief financial officer directly owned 73,787 shares in the company, valued at $5,592,316.73. This trade represents a 11.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 179,045 shares of company stock valued at $13,132,194 over the last quarter. Insiders own 1.24% of the company’s stock.

Netflix Profile

(Free Report)

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming access to television series, films, documentaries and other video content. Its service includes Netflix-produced and licensed programming, with offerings that may vary by market. The company also provides an advertising-supported plan in selected countries and has expanded into mobile games and other interactive entertainment.

Netflix was founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental service in the United States.

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