Adage Capital Partners GP L.L.C. Sells 7,000 Shares of Netflix, Inc. $NFLX

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in Netflix, Inc. by 1.8%, selling 7,000 shares and holding a total of 382,633 shares, valued at approximately $356.8 million.
• Several hedge funds have adjusted their positions in Netflix, with Fullcircle Wealth LLC increasing its stake by 2.5%, highlighting ongoing interest from institutional investors and hedge funds that own 80.93% of the company's stock.
• Netflix recently posted an earnings per share (EPS) of $7.19, exceeding expectations, and set an EPS guidance for FY 2025, indicating confidence in future performance despite a 1.9% decrease in stock price on Tuesday.

Adage Capital Partners GP L.L.C. trimmed its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 382,633 shares of the Internet television network's stock after selling 7,000 shares during the quarter. Netflix comprises approximately 0.7% of Adage Capital Partners GP L.L.C.'s holdings, making the stock its 24th biggest position. Adage Capital Partners GP L.L.C. owned about 0.09% of Netflix worth $356,817,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC grew its position in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix during the fourth quarter worth about $27,000. Copia Wealth Management purchased a new stake in shares of Netflix during the fourth quarter worth about $37,000. Stuart Chaussee & Associates Inc. grew its position in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after purchasing an additional 45 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix during the first quarter worth about $42,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 2,600 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $1,207.76, for a total transaction of $3,140,176.00. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,457,842.16. This trade represents a 41.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reed Hastings sold 25,959 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the sale, the director directly owned 394 shares of the company's stock, valued at $475,837.74. This represents a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,348 shares of company stock worth $109,498,489 in the last three months. Corporate insiders own 1.37% of the company's stock.

Netflix Trading Up 2.6%

Shares of NASDAQ:NFLX traded up $31.30 during trading on Thursday, hitting $1,257.48. The company had a trading volume of 3,016,295 shares, compared to its average volume of 4,054,016. The stock has a market cap of $534.34 billion, a price-to-earnings ratio of 53.58, a price-to-earnings-growth ratio of 2.03 and a beta of 1.60. Netflix, Inc. has a one year low of $660.80 and a one year high of $1,341.15. The company has a fifty day simple moving average of $1,227.93 and a two-hundred day simple moving average of $1,120.98. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barclays reiterated a "sell" rating and set a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. The Goldman Sachs Group raised their price target on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Piper Sandler raised their price target on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Zacks Research cut Netflix from a "strong-buy" rating to a "hold" rating in a report on Monday. Finally, Bank of America raised their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,297.66.

About Netflix

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.