Elite Wealth Management Inc. Sells 295 Shares of Netflix, Inc. $NFLX

Key Points

• Elite Wealth Management Inc. has reduced its stake in Netflix by 29.1%, selling 295 shares and now owning a total of 719 shares, which account for approximately 0.3% of its total portfolio.
• Recent analysis reports show a consensus rating of "Moderate Buy" for Netflix, with a price target averaging at $1,337.63.
• Insider transactions included Netflix's CEO selling 2,026 shares for nearly $2.34 million, reducing his ownership by 13.68% over the past months.

Elite Wealth Management Inc. cut its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 29.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 719 shares of the Internet television network's stock after selling 295 shares during the period. Netflix accounts for about 0.3% of Elite Wealth Management Inc.'s portfolio, making the stock its 20th largest position. Elite Wealth Management Inc.'s holdings in Netflix were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NFLX. Brighton Jones LLC boosted its stake in Netflix by 5.0% in 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 in the last quarter. Revolve Wealth Partners LLC boosted its stake in Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after purchasing an additional 144 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Netflix in the 1st quarter worth approximately $214,000. Wealthcare Advisory Partners LLC boosted its stake in Netflix by 11.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,148 shares of the Internet television network's stock worth $2,003,000 after purchasing an additional 220 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Netflix by 17.6% in the 1st quarter. GAMMA Investing LLC now owns 9,475 shares of the Internet television network's stock worth $8,836,000 after purchasing an additional 1,415 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent analyst reports. Pivotal Research reiterated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. The Goldman Sachs Group decreased 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. Loop Capital upgraded shares of Netflix from a "hold" rating to a "buy" rating and lifted their price objective for the company from $1,150.00 to $1,350.00 in a research note on Wednesday, September 17th. UBS Group set a $1,425.00 price objective on shares of Netflix in a research note on Tuesday. Finally, Canaccord Genuity Group restated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,337.63.

Insider Transactions at Netflix

In other Netflix news, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David A. Hyman sold 424 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the transaction, the insider owned 31,610 shares of the company's stock, valued at $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 three months. Insiders own 1.37% of the company's stock.

Netflix Price Performance

NFLX stock opened at $1,231.07 on Friday. The company has a market capitalization of $523.12 billion, a P/E ratio of 52.45, a PEG ratio of 2.04 and a beta of 1.59. Netflix, Inc. has a twelve month low of $677.88 and a twelve month high of $1,341.15. The business has a 50 day simple moving average of $1,209.61 and a 200-day simple moving average of $1,165.56. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating 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 business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the company earned $4.88 earnings per share. The company'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, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current 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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