Banque Pictet & Cie SA Has $36.37 Million Stock Position in Netflix, Inc. $NFLX

Key Points

• Banque Pictet & Cie SA has reduced its stake in Netflix, Inc. by 3.7%, holding 27,162 shares valued at approximately $36.37 million as of the latest SEC filing.
• Several institutional investors significantly increased their positions in Netflix, with GAMMA Investing LLC raising its holdings by an astonishing 109,524.3% during the first quarter.
• Netflix reported $7.19 earnings per share in its latest quarter, surpassing estimates and showing a 15.9% year-over-year revenue increase.

Banque Pictet & Cie SA cut its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,162 shares of the Internet television network's stock after selling 1,044 shares during the quarter. Banque Pictet & Cie SA's holdings in Netflix were worth $36,373,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Nuveen LLC bought a new stake in Netflix in the 1st quarter valued at about $2,385,585,000. Kingstone Capital Partners Texas LLC raised its stake in Netflix by 343,058.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network's stock worth $3,299,450,000 after buying an additional 2,463,158 shares during the period. Goldman Sachs Group Inc. raised its stake in Netflix by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after buying an additional 1,236,251 shares during the period. Finally, Amundi boosted its holdings in Netflix by 37.7% in the first quarter. Amundi now owns 2,070,221 shares of the Internet television network's stock worth $1,898,496,000 after acquiring an additional 567,251 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 2,026 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the transaction, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,290,418.40. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,728 shares of company stock valued at $108,700,648 in the last three months. Insiders own 1.37% of the company's stock.

Netflix Price Performance

Netflix stock opened at $1,208.24 on Friday. Netflix, Inc. has a 52 week low of $677.88 and a 52 week high of $1,341.15. The company's 50 day moving average price is $1,208.72 and its two-hundred day moving average price is $1,147.93. The stock has a market cap of $513.42 billion, a P/E ratio of 51.48, a P/E/G ratio of 2.03 and a beta of 1.60. 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 (NASDAQ:NFLX - Get Free Report) last announced its earnings results 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 firm 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 business's revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on NFLX shares. Robert W. Baird boosted their price objective on Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Rosenblatt Securities upped their price objective on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Piper Sandler raised their price objective on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. KeyCorp boosted their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Wells Fargo & Company upped 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. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,328.87.

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.

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