DAVENPORT & Co LLC Buys 1,159 Shares of Netflix, Inc. $NFLX

Key Points

• DAVENPORT & Co LLC increased its stake in Netflix by 8.2%, acquiring an additional 1,159 shares during the second quarter, bringing their total holdings to 15,335 shares worth approximately $20.5 million.
• Netflix reported a net revenue of $11.08 billion for the last quarter, exceeding analysts' expectations, and achieved an EPS of $7.19, beating the consensus estimate by $0.12.
• Insider trading activity has seen significant sales, with insiders offloading 104,100 shares valued at $122.7 million in the last 90 days, indicating potential shifts in investor sentiment.

DAVENPORT & Co LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 8.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,335 shares of the Internet television network's stock after buying an additional 1,159 shares during the quarter. DAVENPORT & Co LLC's holdings in Netflix were worth $20,535,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC grew 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 buying an additional 13 shares during the last quarter. Maseco LLP bought a new stake in Netflix during the 2nd quarter worth approximately $39,000. Ransom Advisory Ltd bought a new stake in Netflix during the 2nd quarter worth approximately $47,000. Flaharty Asset Management LLC acquired a new stake in Netflix during the 1st quarter valued at $37,000. Finally, Signature Resources Capital Management LLC raised its position in Netflix by 740.0% in the 2nd quarter. Signature Resources Capital Management LLC now owns 42 shares of the Internet television network's stock valued at $56,000 after purchasing an additional 37 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NFLX stock opened at $1,163.31 on Tuesday. The firm's 50 day moving average price is $1,207.13 and its two-hundred day moving average price is $1,163.23. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 52-week low of $677.88 and a 52-week high of $1,341.15. The stock has a market cap of $494.33 billion, a PE ratio of 49.57, a PEG ratio of 1.94 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the business posted $4.88 EPS. The firm's quarterly revenue 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. As a group, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In related news, insider David A. Hyman sold 424 shares of Netflix stock in a transaction that occurred on Tuesday, August 5th. The shares were 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 $36,625,558.70. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,290,418.40. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,100 shares of company stock valued at $122,710,980. Insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NFLX. Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. Pivotal Research restated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. KeyCorp boosted their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. TD Cowen upped their target price on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Wall Street Zen lowered shares of Netflix from a "buy" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,335.00.

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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