Essex Financial Services Inc. Purchases 23,958 Shares of Netflix, Inc. $NFLX

Key Points

• Essex Financial Services dramatically increased its Netflix stake in the fourth quarter, buying 23,958 additional shares and lifting its position by 1,279.1% to 25,831 shares worth about $2.42 million.
• Several other institutional investors also boosted their holdings, and institutions now own 80.93% of Netflix’s stock, indicating strong professional ownership despite recent portfolio moves.
• Netflix’s latest earnings topped expectations, with EPS of $1.23 versus $0.76 estimated and revenue up 16.2% year over year; analysts currently rate the stock a Moderate Buy with an average target price of $114.82.

Essex Financial Services Inc. lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1,279.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,831 shares of the Internet television network's stock after purchasing an additional 23,958 shares during the period. Essex Financial Services Inc.'s holdings in Netflix were worth $2,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Netflix by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 38,521,322 shares of the Internet television network's stock valued at $46,183,983,000 after purchasing an additional 142,238 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of Netflix by 875.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,143 shares of the Internet television network's stock valued at $2,920,000 after purchasing an additional 27,951 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of Netflix by 837.2% in the 4th quarter. Contravisory Investment Management Inc. now owns 111,380 shares of the Internet television network's stock valued at $10,443,000 after purchasing an additional 99,496 shares in the last quarter. BNC Wealth Management LLC boosted its holdings in shares of Netflix by 991.3% in the 4th quarter. BNC Wealth Management LLC now owns 41,229 shares of the Internet television network's stock valued at $3,866,000 after purchasing an additional 37,451 shares in the last quarter. Finally, Crew Capital Management Ltd boosted its holdings in shares of Netflix by 1,021.9% in the 4th quarter. Crew Capital Management Ltd now owns 9,031 shares of the Internet television network's stock valued at $847,000 after purchasing an additional 8,226 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Key Stories Impacting Netflix

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Multiple reports say Netflix’s ad business is gaining traction, with 2026 ad revenue projected near $3 billion as new formats, live events, and ad-tech tools expand monetization. Netflix's Ad Business Expansion Continues: More Upside Ahead?
• Positive Sentiment: Netflix reportedly acquired Ben Affleck’s AI startup InterPositive, which could automate parts of filmmaking and lower production costs, supporting margins over time. Netflix Buys Affleck AI Startup InterPositive To Reshape Content Economics
• Positive Sentiment: Several commentary pieces argue Netflix is a buying opportunity, citing upside from ad-tier growth and improving free cash flow, with some analysts reiterating bullish ratings and higher price targets. 3 Reasons to Buy Netflix Stock in June
• Neutral Sentiment: Other articles highlight Netflix as a laggard versus entertainment peers, suggesting the stock may need execution to catch up rather than already reflecting a clear fundamental breakout. How Is Netflix’s Stock Performance Compared to Other Entertainment Stocks?
• Neutral Sentiment: Coverage linking Netflix to streaming perks and broader media/advertising themes is supportive but not a direct company-specific catalyst. Best credit cards with streaming perks for June 2026: Save on Netflix, Hulu, and more

Insider Buying and Selling at Netflix

In related news, Director Reed Hastings sold 420,550 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $95.49, for a total transaction of $40,158,319.50. Following the completion of the transaction, the director directly owned 3,940 shares of the company's stock, valued at $376,230.60. This trade represents a 99.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Spencer Adam Neumann sold 28,630 shares of the firm's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $98.00, for a total value of $2,805,740.00. Following the transaction, the chief financial officer directly owned 73,787 shares of the company's stock, valued at approximately $7,231,126. This represents a 27.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 926,329 shares of company stock worth $87,071,177 over the last 90 days. Company insiders own 1.24% of the company's stock.

Netflix Stock Performance

NASDAQ NFLX opened at $86.02 on Monday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.43. Netflix, Inc. has a twelve month low of $75.01 and a twelve month high of $134.12. The company has a market cap of $362.21 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.09 and a beta of 1.50. The business's fifty day moving average is $93.12 and its 200 day moving average is $93.14.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 16th. The Internet television network reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.47. The business had revenue of $12.25 billion during the quarter, compared to analyst estimates of $12.17 billion. Netflix had a return on equity of 40.92% and a net margin of 28.52%.Netflix's revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period last year, the company earned $6.61 EPS. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. As a group, sell-side analysts expect that Netflix, Inc. will post 3.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NFLX. Huber Research raised Netflix from a "strong sell" rating to a "strong-buy" rating in a report on Friday, February 27th. Guggenheim reaffirmed a "buy" rating and issued a $120.00 target price on shares of Netflix in a report on Friday, May 15th. President Capital raised their target price on Netflix from $133.00 to $134.00 and gave the company a "buy" rating in a report on Tuesday, March 31st. Cfra raised Netflix from a "hold" rating to a "buy" rating and set a $115.00 target price on the stock in a report on Friday, March 6th. Finally, Arete Research raised Netflix from a "neutral" rating to a "buy" rating in a report on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $114.82.

Netflix Company Profile

Netflix, Inc NASDAQ: NFLX is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company's primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.