Bank of America Corp DE Sells 20,485,464 Shares of Netflix, Inc. $NFLX

Bank of America Corp DE cut its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 35.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 37,457,348 shares of the Internet television network's stock after selling 20,485,464 shares during the period. Bank of America Corp DE owned approximately 0.90% of Netflix worth $2,674,455,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornerstone Financial Management LLC purchased a new stake in shares of Netflix in the fourth quarter worth $26,000. Redmont Wealth Advisors LLC increased its holdings in shares of Netflix by 900.0% in the fourth quarter. Redmont Wealth Advisors LLC now owns 300 shares of the Internet television network's stock worth $28,000 after purchasing an additional 270 shares during the last quarter. Lloyd Advisory Services LLC. bought a new stake in shares of Netflix in the fourth quarter worth about $28,000. Core Wealth Advisors LLC bought a new stake in shares of Netflix in the fourth quarter worth about $28,000. Finally, Evolution Wealth Management Inc. lifted its position in shares of Netflix by 2,284.6% in the fourth quarter. Evolution Wealth Management Inc. now owns 310 shares of the Internet television network's stock worth $29,000 after buying an additional 297 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Netflix Trading Up 3.8%

NASDAQ NFLX opened at $80.32 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The firm has a market cap of $334.45 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. Netflix, Inc. has a 52 week low of $65.08 and a 52 week high of $124.86. The company has a 50 day moving average price of $75.80 and a 200 day moving average price of $84.45.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, topping the consensus estimate of $0.79 by $0.01. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The business had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.58 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The business's revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Netflix, Inc. will post 3.59 EPS for the current fiscal year.

Insider Activity

In other news, CFO Spencer Neumann sold 9,248 shares of Netflix stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $75.79, for a total transaction of $700,905.92. Following the completion of the transaction, the chief financial officer directly owned 73,787 shares of the company's stock, valued at $5,592,316.73. The trade was a 11.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradford L. Smith sold 35,990 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total transaction of $2,789,944.80. Following the sale, the director directly owned 79,690 shares in the company, valued at $6,177,568.80. This trade represents a 31.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 215,035 shares of company stock valued at $15,922,139 over the last quarter. Insiders own 1.24% of the company's stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of recent research reports. CLSA began coverage on shares of Netflix in a research note on Monday, July 20th. They issued an "outperform" rating for the company. New Street Research upped their target price on shares of Netflix from $96.00 to $102.00 and gave the company a "neutral" rating in a research report on Friday, July 17th. JPMorgan Chase & Co. restated a "buy" rating on shares of Netflix in a report on Thursday, August 20th. TD Cowen lowered their price target on Netflix from $112.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, July 17th. Finally, Bank of America dropped their price objective on shares of Netflix from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.53.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Evercore raises price target to $110: Evercore ISI lifted its Netflix price target from $100 to $110 and reiterated an “Outperform” rating. The firm cited improving subscriber trends in the U.S. and Japan, with live sports and events helping support engagement and subscriptions. Netflix stock rises as Evercore raises price target to $110
• Positive Sentiment: Potential growth beyond traditional streaming: Evercore identified live events and short-form video as possible additional growth engines that could increase viewing frequency and strengthen Netflix’s user-retention strategy. Netflix stock jumps as Wall Street sees a new growth engine
• Positive Sentiment: Capital is focused on content rather than costly technology infrastructure: Netflix invested approximately $415 million in property and equipment during the first half of 2026, a relatively modest amount compared with major technology companies. Investors may view this as evidence of an asset-light model capable of generating cash for content, buybacks, and other shareholder returns. Netflix capital goes into shows, not silicon
• Positive Sentiment: Industry positioning may improve: Turmoil surrounding Paramount’s proposed Warner transaction and broader media consolidation could reinforce Netflix’s competitive moat, according to market commentary. The company’s continued earnings and free-cash-flow growth also supports the bullish case after its prior sell-off. Paramount’s Warner takeover chaos and Netflix’s moat
• Neutral Sentiment: Streaming policy coalition launched: Netflix, Amazon, and YouTube formed the Streaming Access and Choice Alliance to advocate for consumer access to online content, including issues related to live entertainment and sports rights. The group could support Netflix’s strategic interests, although the immediate financial impact is unclear. Amazon, Netflix, and YouTube form coalition
• Neutral Sentiment: Next earnings date announced: Netflix plans to release third-quarter 2026 results and its business outlook on October 20, giving investors the next major catalyst for evaluating subscriber momentum, advertising, margins, and live-content initiatives. Netflix to announce third-quarter 2026 financial results
• Negative Sentiment: Legal and execution risks remain: Netflix faces a lawsuit alleging secret tracking involving families and children. In addition, recent subscription-price increases and extensive insider selling could concern investors about customer retention and management’s view of valuation, even though neither issue appears to have driven the day’s rally. Netflix lawsuit over alleged tracking

Netflix Company Profile

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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