Coastline Trust Co Sells 3,214 Shares of Netflix, Inc. $NFLX

Key Points

• Coastline Trust Co has reduced its stake in Netflix by 19.8%, selling 3,214 shares and owning 12,984 shares worth approximately $17.4 million, which now represents 2.0% of its total holdings.
• Several analysts have issued varied ratings on Netflix, with actions ranging from downgrades to buy ratings, resulting in a consensus rating of "Moderate Buy" and a price target of around $1,328.87.
• Insider transactions show significant selling activity, including CEO Gregory K. Peters selling 2,026 shares and Director Reed Hastings selling 25,959 shares, indicating a 98.50% decrease in Hastings' ownership.

Coastline Trust Co lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 19.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,984 shares of the Internet television network's stock after selling 3,214 shares during the period. Netflix makes up approximately 2.0% of Coastline Trust Co's holdings, making the stock its 11th largest position. Coastline Trust Co's holdings in Netflix were worth $17,387,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC grew its position in Netflix by 100.0% in the 1st 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 period. Flaharty Asset Management LLC purchased a new stake in shares of Netflix in the 1st quarter worth $37,000. Maseco LLP purchased a new stake in shares of Netflix in the 2nd quarter worth $39,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix in the 1st quarter worth $42,000. Finally, 1248 Management LLC purchased a new stake in shares of Netflix in the 1st quarter worth $43,000. Institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several analyst reports. Phillip Securities lowered Netflix from a "hold" rating to a "strong sell" rating in a research note on Monday, July 21st. Zacks Research downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,500.00 target price on shares of Netflix in a report on Wednesday, September 10th. The Goldman Sachs Group upped their target price on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Finally, Oppenheimer upped 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,328.87.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the sale, the chief executive officer directly owned 12,781 shares of the company's stock, valued at $14,793,240.64. This represents a 13.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Reed Hastings sold 25,959 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total transaction of $31,350,943.89. Following the completion of the sale, the director directly owned 394 shares in the company, valued at $475,837.74. This trade represents a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,728 shares of company stock worth $108,700,648 over the last three months. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Up 0.2%

Shares of NASDAQ NFLX opened at $1,210.61 on Friday. The firm's 50-day moving average price is $1,208.75 and its 200-day moving average price is $1,151.70. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $514.42 billion, a price-to-earnings ratio of 51.58, a P/E/G ratio of 2.04 and a beta of 1.60. Netflix, Inc. has a 12-month low of $677.88 and a 12-month high of $1,341.15.

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 for the quarter, topping 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 analyst estimates of $11.04 billion. During the same period in the prior year, the company posted $4.88 EPS. The firm'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. On average, equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal 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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