Fortis Capital Advisors LLC Boosts Stock Holdings in Netflix, Inc. $NFLX

Key Points

• Fortis Capital Advisors LLC increased its stake in Netflix, Inc. by 9.7% in the first quarter, now holding 4,602 shares valued at approximately $4.29 million.
• Analysts have varying opinions on Netflix's stock, with Citigroup setting a new target price of $1,250 while other firms like Piper Sandler increased their target to $1,500, reflecting a generally optimistic outlook.
• Netflix's CEO sold 2,026 shares valued at over $2.34 million, indicating a 13.68% decrease in his holdings, amidst a trend of insider selling totaling nearly $110 million in the past three months.

Fortis Capital Advisors LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 9.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,602 shares of the Internet television network's stock after acquiring an additional 408 shares during the quarter. Netflix accounts for approximately 0.9% of Fortis Capital Advisors LLC's portfolio, making the stock its 19th largest holding. Fortis Capital Advisors LLC's holdings in Netflix were worth $4,292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its position in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after buying an additional 257 shares during the period. Revolve Wealth Partners LLC grew its position in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after buying an additional 144 shares during the period. Lazard Asset Management LLC grew its position in Netflix by 5.0% during the fourth quarter. Lazard Asset Management LLC now owns 54,984 shares of the Internet television network's stock worth $49,008,000 after buying an additional 2,618 shares during the period. Morse Asset Management Inc grew its position in Netflix by 2.0% during the fourth quarter. Morse Asset Management Inc now owns 6,957 shares of the Internet television network's stock worth $6,201,000 after buying an additional 137 shares during the period. Finally, Obermeyer Wealth Partners grew its position in Netflix by 4.9% during the fourth quarter. Obermeyer Wealth Partners now owns 691 shares of the Internet television network's stock worth $616,000 after buying an additional 32 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NASDAQ NFLX traded down $15.06 on Friday, hitting $1,188.44. The company's stock had a trading volume of 3,778,934 shares, compared to its average volume of 2,525,736. Netflix, Inc. has a 12-month low of $677.88 and a 12-month high of $1,341.15. The company has a market capitalization of $505.00 billion, a price-to-earnings ratio of 50.64, 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 current ratio of 1.34 and a quick ratio of 1.34. The stock has a 50 day moving average of $1,218.15 and a 200-day moving average of $1,132.43.

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 (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.88 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on NFLX shares. Citigroup restated a "neutral" rating and set a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. KeyCorp upped their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Wells Fargo & Company upped their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a report on Tuesday, July 15th. Finally, Barclays reaffirmed a "sell" rating and issued a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,317.58.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,290,418.40. This represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Theodore A. Sarandos sold 2,026 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the transaction, the chief executive officer directly owned 15,168 shares in the company, valued at $17,604,284.16. The trade was a 11.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,348 shares of company stock worth $109,498,489. 1.37% of the stock is currently owned by corporate insiders.

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.