ERn Financial LLC Has $619,000 Stock Holdings in Netflix, Inc. $NFLX

Key Points

• ERn Financial LLC reduced its stake in Netflix, Inc. by **60.2%** in the second quarter, leaving it with holdings valued at **$619,000**.
• Insider selling has been significant, with CFO Spencer Adam Neumann and Director Reed Hastings reducing their positions by **41.34%** and **98.50%**, respectively.
• Analysts have mixed ratings on Netflix, with one strong buy, twenty-three buys, nine holds, and three sells, leading to an average price target of **$1,328.87**.

ERn Financial LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 60.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 462 shares of the Internet television network's stock after selling 699 shares during the period. ERn Financial LLC's holdings in Netflix were worth $619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC boosted its holdings in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in shares of Netflix during the first quarter worth approximately $37,000. Maseco LLP acquired a new position in shares of Netflix during the second quarter worth approximately $39,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Netflix in the 1st quarter worth $42,000. Finally, 1248 Management LLC bought a new position in shares of Netflix in the 1st quarter worth $43,000. Institutional investors own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the sale, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,290,418.40. The trade was a 41.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Reed Hastings sold 25,959 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the sale, the director directly owned 394 shares in the company, valued at $475,837.74. This trade represents a 98.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,728 shares of company stock valued at $108,700,648 over the last 90 days. 1.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of recent research reports. Zacks Research downgraded Netflix from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. 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. KeyCorp upped their price target on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Morgan Stanley restated an "equal weight" rating on shares of Netflix in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,328.87.

Netflix Trading Up 0.2%

Shares of NFLX stock opened at $1,210.61 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market cap of $514.42 billion, a P/E ratio of 51.58, a PEG ratio of 2.04 and a beta of 1.60. The company has a 50 day moving average of $1,208.75 and a 200-day moving average of $1,153.53. 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 quarterly earnings data 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. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

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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