Acumen Wealth Advisors LLC Has $2.43 Million Holdings in Netflix, Inc. $NFLX

Acumen Wealth Advisors LLC raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3,252.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 25,242 shares of the Internet television network’s stock after purchasing an additional 24,489 shares during the quarter. Acumen Wealth Advisors LLC’s holdings in Netflix were worth $2,427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after purchasing an additional 257 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after purchasing an additional 144 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Netflix by 21.2% in the second quarter. Sivia Capital Partners LLC now owns 1,406 shares of the Internet television network’s stock valued at $1,883,000 after purchasing an additional 246 shares during the last quarter. Strategic Investment Advisors MI raised its position in shares of Netflix by 18.9% in the second quarter. Strategic Investment Advisors MI now owns 774 shares of the Internet television network’s stock valued at $1,036,000 after purchasing an additional 123 shares during the period. Finally, Schnieders Capital Management LLC. raised its position in shares of Netflix by 12.1% in the second quarter. Schnieders Capital Management LLC. now owns 2,115 shares of the Internet television network’s stock valued at $2,832,000 after purchasing an additional 228 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Up 1.6%

NFLX stock opened at $68.67 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.41 and a current ratio of 1.14. The company’s 50-day simple moving average is $79.42 and its 200 day simple moving average is $86.49. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $126.71. The company has a market capitalization of $285.94 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 0.85 and a beta of 1.52.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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. The business had revenue of $12.56 billion during the quarter, compared to analysts’ expectations of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 EPS. As a group, sell-side analysts anticipate that Netflix, Inc. will post 3.6 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Reed Hastings sold 386,700 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $85.97, for a total transaction of $33,244,599.00. Following the sale, the director owned 3,940 shares of the company’s stock, valued at $338,721.80. This represents a 98.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David A. Hyman sold 5,722 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $88.08, for a total value of $503,993.76. Following the transaction, the insider owned 316,100 shares in the company, valued at approximately $27,842,088. This trade represents a 1.78% decrease in their position. 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 sold 899,839 shares of company stock valued at $80,141,661 in the last quarter. Corporate insiders own 1.24% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several research analyst reports. Seaport Research Partners downgraded shares of Netflix from a “buy” rating to a “neutral” rating in a report on Monday. Jefferies Financial Group lowered their price target on shares of Netflix from $128.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, June 10th. Citic Securities raised their price objective on shares of Netflix from $95.00 to $107.00 and gave the stock a “hold” rating in a research report on Monday, April 27th. CLSA started coverage on Netflix in a report on Monday. They set an “outperform” rating for the company. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of Netflix in a research report on Wednesday, April 15th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average price target of $104.21.

Trending Headlines about Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix delivered an earnings beat and continues to post double-digit revenue growth, while bulls argue the selloff has made the stock look inexpensive on earnings and cash flow. Netflix “Is Not a Broken Company” and Trades At Just 19x Earnings. Jim Cramer Says Start Buying
• Positive Sentiment: Several analysts and commentators say the post-earnings drop may have created a buying opportunity, citing Netflix’s ad business, live content ambitions, international growth, and strong free-cash-flow potential. Netflix (NFLX) Stock Still Looks Cheap On Cash Flow And Earnings
• Positive Sentiment: Phillip Securities upgraded Netflix from “moderate buy” to “strong-buy,” with one analyst saying engagement shows no signs of slowing and setting a higher price target than the current trading level. Netflix, Inc. (NFLX) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Wall Street coverage remains active and largely mixed-to-bullish, with some reports pointing to meaningful upside in consensus price targets even after the recent slide. Netflix Fell 45% Over 12 Months But This Ratings House Sees A Doubling Share Price
• Negative Sentiment: Investors are worried about softer revenue guidance, slowing growth momentum, and Netflix making viewership metrics harder to track, which raises questions about transparency and future monetization. Netflix (NFLX) Could Be 18% Undervalued After Soft Guidance Raised Fresh Growth Questions
• Negative Sentiment: Multiple articles described the stock’s recent action as a sharp post-earnings crash or “miserable stretch,” reflecting concern that the latest quarter did not convince investors that growth will reaccelerate soon. Netflix just made its slowdown harder to measure

Netflix Profile

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.