Congress Asset Management Co. Boosts Position in Netflix, Inc. $NFLX

Key Points

• Congress Asset Management Co. increased its stake in Netflix, Inc. by 0.8%, holding 139,607 shares valued at approximately $186.95 million, making Netflix its 13th largest investment.
• Analysts show a positive sentiment towards Netflix, with a consensus rating of "Moderate Buy" and a target price averaging $1,328.87, following upward revisions from firms like Rosenblatt Securities and Piper Sandler.
• Insider trading includes significant sales by CFO Spencer Neumann and CEO Gregory Peters, with over 88,000 shares sold recently, representing a notable decrease in their ownership stakes.

Congress Asset Management Co. raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,607 shares of the Internet television network's stock after buying an additional 1,165 shares during the period. Netflix comprises 1.3% of Congress Asset Management Co.'s holdings, making the stock its 13th biggest holding. Congress Asset Management Co.'s holdings in Netflix were worth $186,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of NFLX. Brighton Jones LLC increased its holdings in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after buying an additional 144 shares in the last quarter. Copia Wealth Management bought a new position in shares of Netflix during the 4th quarter worth $37,000. Mascagni Wealth Management Inc. purchased a new position in shares of Netflix during the fourth quarter valued at $528,000. Finally, Fire Capital Management LLC bought a new stake in shares of Netflix in the fourth quarter valued at about $352,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NFLX shares. Rosenblatt Securities increased their target price on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Piper Sandler upped their price target 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. Citigroup reissued a "neutral" rating and set a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Jefferies Financial Group restated a "buy" rating on shares of Netflix in a report on Thursday, September 11th. Finally, Barclays reaffirmed a "sell" rating and set a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,328.87.

Netflix Stock Performance

Shares of NFLX stock opened at $1,208.24 on Friday. Netflix, Inc. has a 12-month low of $677.88 and a 12-month high of $1,341.15. The business's fifty day simple moving average is $1,208.72 and its 200-day simple moving average is $1,147.93. 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 company has a market cap of $513.42 billion, a PE ratio of 51.48, a PEG ratio of 2.03 and a beta of 1.60.

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. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the previous year, the business earned $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. Analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 2,600 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $1,207.76, for a total transaction of $3,140,176.00. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,457,842.16. This represents a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the transaction, the chief executive officer directly 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 three months, insiders have sold 88,728 shares of company stock valued at $108,700,648. 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.

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