Comerica Bank Reduces Holdings in Netflix, Inc. $NFLX

Key Points

• Comerica Bank has reduced its holdings in Netflix, Inc. by 4.6%, selling 4,223 shares during the first quarter, leaving it with a total of 88,374 shares valued at approximately $82.4 million.
• Netflix's recent earnings report showed an earnings per share (EPS) of $7.19, exceeding expectations, with quarterly revenue of $11.08 billion, reflecting a 15.9% increase year-over-year.
• Analysts have raised price targets for Netflix, with Goldman Sachs increasing theirs from $1,000 to $1,140, and Piper Sandler adjusting theirs from $1,400 to $1,500, reflecting a generally positive outlook on the stock.

Comerica Bank decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 88,374 shares of the Internet television network's stock after selling 4,223 shares during the period. Comerica Bank's holdings in Netflix were worth $82,411,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the first quarter worth about $8,600,000. Synovus Financial Corp lifted its holdings in shares of Netflix by 6.3% during the first quarter. Synovus Financial Corp now owns 8,955 shares of the Internet television network's stock worth $8,351,000 after purchasing an additional 532 shares during the period. Oak Harvest Investment Services lifted its holdings in shares of Netflix by 27.3% during the first quarter. Oak Harvest Investment Services now owns 5,303 shares of the Internet television network's stock worth $4,945,000 after purchasing an additional 1,136 shares during the period. ICONIQ Capital LLC lifted its holdings in shares of Netflix by 16.0% during the first quarter. ICONIQ Capital LLC now owns 2,366 shares of the Internet television network's stock worth $2,206,000 after purchasing an additional 327 shares during the period. Finally, Enterprise Financial Services Corp lifted its holdings in shares of Netflix by 1.8% during the first quarter. Enterprise Financial Services Corp now owns 505 shares of the Internet television network's stock worth $471,000 after purchasing an additional 9 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Price Performance

Shares of NFLX stock traded up $13.42 during trading hours on Monday, hitting $1,218.07. 2,809,597 shares of the company's stock were exchanged, compared to its average volume of 2,952,016. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market cap of $517.59 billion, a P/E ratio of 51.90, a P/E/G ratio of 2.03 and a beta of 1.59. The firm has a 50 day moving average of $1,231.26 and a two-hundred day moving average of $1,113.08. Netflix, Inc. has a fifty-two week low of $660.80 and a fifty-two week high of $1,341.15.

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 for the quarter, topping the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion during 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 business's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 26,933 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the completion of the sale, the director directly owned 394 shares in the company, valued at approximately $477,394.04. The trade was a 98.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the business'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 sale, the chief executive officer owned 12,781 shares of the company's stock, valued at $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,307 shares of company stock valued at $179,443,809. Corporate insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NFLX shares. Oppenheimer lifted their target price on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Wells Fargo & Company lifted their target price on Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. TD Cowen lifted their target price on Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. lifted their target price on Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix 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.