Cinctive Capital Management LP Purchases Shares of 4,222 Netflix, Inc. $NFLX

Key Points

• Cinctive Capital Management LP has acquired a new stake in Netflix, Inc., purchasing 4,222 shares valued at approximately $3.94 million during the first quarter.
• Analysts are optimistic about Netflix, with Sanford C. Bernstein raising the price target to $1,390 and a majority rating the stock as a "Moderate Buy."
• Insider trading activity has been significant, with Reed Hastings selling over 25,000 shares, reflecting a 98.5% decrease in his ownership stake.

Cinctive Capital Management LP purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,222 shares of the Internet television network's stock, valued at approximately $3,937,000.

Other institutional investors have also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC grew its holdings 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 valued at $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in Netflix in the fourth quarter worth approximately $27,000. Copia Wealth Management purchased a new stake in Netflix in the fourth quarter worth approximately $37,000. Stuart Chaussee & Associates Inc. boosted its holdings in Netflix by 4,500.0% in 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 during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Netflix in the first quarter worth approximately $42,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

Shares of Netflix stock traded down $13.66 on Friday, hitting $1,243.82. 2,378,410 shares of the company's stock were exchanged, compared to its average volume of 2,541,951. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 1 year low of $660.80 and a 1 year high of $1,341.15. The company has a 50-day simple moving average of $1,225.36 and a 200-day simple moving average of $1,124.35. The stock has a market capitalization of $528.54 billion, a PE ratio of 53.00, a PEG ratio of 2.09 and a beta of 1.60.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter in the previous year, the company earned $4.88 EPS. Netflix'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. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NFLX. Canaccord Genuity Group restated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Oppenheimer raised their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Pivotal Research restated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Wells Fargo & Company raised 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. Finally, Piper Sandler raised their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,317.58.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,290,418.40. The trade was a 41.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the transaction, the chief executive officer owned 15,168 shares in the company, valued at approximately $17,604,284.16. This trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,348 shares of company stock worth $109,498,489 in the last quarter. Corporate insiders own 1.37% of the company's stock.

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.