Flputnam Investment Management Co. Trims Stock Position in Netflix, Inc. $NFLX

Key Points

• Flputnam Investment Management Co. has reduced its stake in Netflix by 6.4%, now holding 12,611 shares valued at approximately $11.76 million as of the latest SEC filing.
• Various institutional investors have modified their positions in Netflix, with notable increases such as Halbert Hargrove Global Advisors, which raised its shares by 100%.
• Netflix recently reported earnings of $7.19 per share for the last quarter, exceeding analysts' expectations, and saw a revenue increase of 15.9% year-over-year.

Flputnam Investment Management Co. cut its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,611 shares of the Internet television network's stock after selling 857 shares during the quarter. Flputnam Investment Management Co.'s holdings in Netflix were worth $11,760,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Point72 Europe London LLP increased its holdings in shares of Netflix by 28.5% during the 1st quarter. Point72 Europe London LLP now owns 13,400 shares of the Internet television network's stock worth $12,496,000 after buying an additional 2,976 shares during the last quarter. Betterment LLC acquired a new position in Netflix in the first quarter valued at approximately $209,000. Benchstone Capital Management LP purchased a new position in Netflix in the first quarter worth approximately $60,167,000. Cyrus J. Lawrence LLC increased its stake in Netflix by 2,880.0% during the first quarter. Cyrus J. Lawrence LLC now owns 447 shares of the Internet television network's stock worth $416,000 after acquiring an additional 432 shares during the last quarter. Finally, Cura Wealth Advisors LLC purchased a new stake in Netflix in the first quarter valued at $210,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler upped their price target on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Citigroup reaffirmed a "neutral" rating and set a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Pivotal Research reissued a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Wedbush reaffirmed an "outperform" rating and set a $1,500.00 price objective (up previously from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Finally, UBS Group reiterated a "market underperform" rating on shares of Netflix in a report on Saturday, July 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 2,026 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction 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. The trade was a 13.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Reed Hastings sold 22,765 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $1,162.46, for a total value of $26,463,401.90. Following the transaction, the director directly owned 394 shares of the company's stock, valued at approximately $458,009.24. This represents a 98.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,629 shares of company stock worth $116,131,982 over the last ninety days. 1.37% of the stock is currently owned by insiders.

Netflix Stock Up 0.5%

Shares of Netflix stock traded up $5.86 during trading hours on Tuesday, reaching $1,214.11. 2,297,479 shares of the company were exchanged, compared to its average volume of 2,584,598. The firm has a market cap of $515.91 billion, a PE ratio of 51.73, a PEG 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, Inc. has a 1 year low of $660.80 and a 1 year high of $1,341.15. The stock's fifty day moving average is $1,228.91 and its 200 day moving average is $1,120.25.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.Netflix's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous 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. As a group, equities research analysts forecast 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.