Clark Capital Management Group Inc. Buys 1,088 Shares of Netflix, Inc. $NFLX

Key Points

• Clark Capital Management Group Inc. increased its stake in Netflix, Inc. by 14.9%, now owning 8,366 shares valued at approximately $7.8 million.
• Several analysts have downgraded Netflix's rating recently, with the firm holding an average rating of Moderate Buy and a target price of $1,317.58.
• Insider trading activity was notable, as CEO Gregory K. Peters and CFO Spencer Adam Neumann sold significant shares, reducing their ownership stakes.

Clark Capital Management Group Inc. lifted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,366 shares of the Internet television network's stock after buying an additional 1,088 shares during the period. Clark Capital Management Group Inc.'s holdings in Netflix were worth $7,802,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC lifted its stake in 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 during the last quarter. Brown Shipley& Co Ltd acquired a new stake in Netflix in the fourth quarter valued at $27,000. Copia Wealth Management acquired a new stake in Netflix in the fourth quarter valued at $37,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Netflix during the 1st quarter worth about $42,000. Finally, Stuart Chaussee & Associates Inc. grew its holdings in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after acquiring an additional 45 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Seaport Res Ptn downgraded Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Zacks Research cut shares of Netflix from a "strong-buy" rating to a "hold" rating in a research report on Monday. Piper Sandler lifted their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Wall Street Zen cut shares of Netflix from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,317.58.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 2,026 shares of Netflix stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the sale, the chief executive officer owned 12,781 shares of the company's stock, valued at approximately $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,600 shares of Netflix stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $1,207.76, for a total value of $3,140,176.00. Following the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,457,842.16. This represents a 41.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,348 shares of company stock valued at $109,498,489 in the last ninety days. 1.37% of the stock is currently owned by corporate insiders.

Netflix Stock Up 2.6%

Netflix stock opened at $1,257.48 on Friday. The firm has a 50 day simple moving average of $1,226.94 and a 200 day simple moving average of $1,122.36. The firm has a market capitalization of $534.34 billion, a price-to-earnings ratio of 53.58, a P/E/G ratio of 2.06 and a beta of 1.60. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 1-year low of $660.80 and a 1-year high of $1,341.15.

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

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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