Concurrent Investment Advisors LLC Raises Stake in Netflix, Inc. $NFLX

Key Points

• Concurrent Investment Advisors LLC increased its stake in Netflix by 25.2%, owning 17,705 shares valued at approximately $23.7 million as of its latest SEC filing.
• Analysts are generally optimistic about Netflix's stock, with an average rating of "Moderate Buy" and a target price of $1,337.63 following positive earnings results.
• Insider sales were noted, with CFO Spencer Adam Neumann selling 2,601 shares, reducing their ownership by 41.34%, amidst a total of 104,100 shares sold by insiders in the last quarter.

Concurrent Investment Advisors LLC boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 25.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 17,705 shares of the Internet television network's stock after purchasing an additional 3,559 shares during the period. Concurrent Investment Advisors LLC's holdings in Netflix were worth $23,709,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Netflix in the first quarter valued at about $37,000. Maseco LLP purchased a new stake in shares of Netflix in the second quarter valued at about $39,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix in the first quarter valued at about $42,000. Finally, 1248 Management LLC purchased a new stake in shares of Netflix in the first quarter valued at about $43,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NFLX shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of Netflix in a report on Thursday, September 11th. KeyCorp raised their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Seaport Res Ptn upgraded shares of Netflix from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Pivotal Research reiterated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group reduced their price objective on shares of Netflix from $1,310.00 to $1,300.00 and set a "neutral" rating for the company in a research note on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,337.63.

Insider Activity at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 424 shares of Netflix stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the transaction, the insider owned 31,610 shares of the company's stock, valued at approximately $36,625,558.70. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock valued at $122,710,980 in the last quarter. 1.37% of the stock is owned by corporate insiders.

Netflix Stock Performance

Shares of NFLX opened at $1,220.08 on Friday. 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 cap of $518.44 billion, a P/E ratio of 51.98, a PEG ratio of 2.05 and a beta of 1.59. The company has a 50-day moving average of $1,210.84 and a two-hundred day moving average of $1,168.46. 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 announced its earnings results 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 during the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous 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. As a group, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.

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