626 Financial LLC Has $1.90 Million Holdings in Netflix, Inc. $NFLX

Key Points

• 626 Financial LLC increased its stake in Netflix, Inc. by 132.7% in Q2, now holding shares worth approximately $1.90 million.
• Insider David A. Hyman sold 424 shares of Netflix stock for about $491,276, while director Reed Hastings sold a significant 42,176 shares valued at approximately $49.4 million.
• Analysts have mixed opinions on Netflix, with target price adjustments ranging from $1,200 to $1,560, while consensus ratings indicate a "Moderate Buy" and a target of $1,335.

626 Financial LLC grew its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 132.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,417 shares of the Internet television network's stock after acquiring an additional 808 shares during the period. Netflix accounts for about 1.0% of 626 Financial LLC's investment portfolio, making the stock its 17th biggest position. 626 Financial LLC's holdings in Netflix were worth $1,898,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after buying an additional 257 shares during the period. Revolve Wealth Partners LLC boosted its holdings in 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 acquiring an additional 144 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Netflix by 7.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,623 shares of the Internet television network's stock valued at $1,513,000 after acquiring an additional 113 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in Netflix in the first quarter worth about $214,000. Finally, Capital Investment Advisors LLC raised its holdings in Netflix by 77.5% during the 1st quarter. Capital Investment Advisors LLC now owns 3,904 shares of the Internet television network's stock worth $3,640,000 after purchasing an additional 1,705 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NFLX shares. Sanford C. Bernstein raised their target price on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Phillip Securities cut shares of Netflix from a "hold" rating to a "strong sell" rating in a research note on Monday, July 21st. Wells Fargo & Company lifted their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Citigroup reissued a "neutral" rating and issued a $1,295.00 price target (up previously from $1,280.00) on shares of Netflix in a research note on Friday. Finally, Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,335.00.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 424 shares of Netflix stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the transaction, the insider owned 31,610 shares of the company's stock, valued at approximately $36,625,558.70. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Reed Hastings sold 42,176 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the completion of the transaction, the director owned 394 shares of the company's stock, valued at $461,736.48. This trade represents a 99.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock worth $122,710,980 over the last three months. Company insiders own 1.37% of the company's stock.

Netflix Price Performance

Shares of NFLX stock opened at $1,163.31 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $677.88 and a 12-month high of $1,341.15. The firm has a fifty day moving average of $1,207.13 and a 200-day moving average of $1,163.23. The firm has a market capitalization of $494.33 billion, a price-to-earnings ratio of 49.57, a price-to-earnings-growth ratio of 1.94 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the previous year, the company posted $4.88 earnings per share. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.

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