Destiny Wealth Partners LLC Raises Stock Position in Netflix, Inc. $NFLX

Key Points

• Destiny Wealth Partners LLC increased its stake in Netflix by 12.4%, owning a total of 5,435 shares valued at $7,278,000 as of the latest reporting period.
• Insider trading activity includes CFO Spencer Adam Neumann selling 2,600 shares and CEO Gregory K. Peters selling 2,026 shares of Netflix stock.
• Analysts have mixed ratings on Netflix, with a consensus rating of "Moderate Buy" and a consensus price target of $1,328.87.

Destiny Wealth Partners LLC raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 12.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,435 shares of the Internet television network's stock after buying an additional 599 shares during the period. Destiny Wealth Partners LLC's holdings in Netflix were worth $7,278,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Optima Capital LLC increased its holdings in Netflix by 3.5% in the second quarter. Optima Capital LLC now owns 239 shares of the Internet television network's stock valued at $320,000 after buying an additional 8 shares in the last quarter. Unified Investment Management increased its holdings in Netflix by 1.7% in the second quarter. Unified Investment Management now owns 474 shares of the Internet television network's stock valued at $635,000 after buying an additional 8 shares in the last quarter. Plancorp LLC increased its holdings in Netflix by 0.6% in the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network's stock valued at $1,711,000 after buying an additional 8 shares in the last quarter. Five Oceans Advisors increased its holdings in Netflix by 1.1% in the second quarter. Five Oceans Advisors now owns 751 shares of the Internet television network's stock valued at $1,006,000 after buying an additional 8 shares in the last quarter. Finally, Fullcircle Wealth LLC increased its holdings in Netflix by 2.5% in the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after buying an additional 9 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent research reports. UBS Group reissued a "market underperform" rating on shares of Netflix in a research note on Saturday, July 19th. Citigroup reissued a "neutral" rating and set a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Zacks Research cut shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. The Goldman Sachs Group raised their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Pivotal Research reissued a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,328.87.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 2,600 shares of the firm's stock in a transaction that occurred on 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 sale, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,457,842.16. This trade represents a 41.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the firm'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 transaction of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This trade represents a 13.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,728 shares of company stock valued at $108,700,648 in the last 90 days. Insiders own 1.37% of the company's stock.

Netflix Stock Up 0.4%

Shares of NASDAQ NFLX opened at $1,208.24 on Friday. Netflix, Inc. has a 1 year low of $677.88 and a 1 year high of $1,341.15. The firm's 50 day moving average price is $1,208.72 and its 200 day moving average price is $1,147.93. The firm has a market cap of $513.42 billion, a P/E ratio of 51.48, a price-to-earnings-growth ratio of 2.03 and a beta of 1.60. 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 (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. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter last year, the business earned $4.88 earnings per share. Netflix's revenue was up 15.9% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current 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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