Fred Alger Management LLC Grows Position in Netflix, Inc. $NFLX

Key Points

• Fred Alger Management LLC increased its stake in Netflix, Inc. by 5.9%, purchasing an additional 26,773 shares, bringing its total ownership to 484,409 shares valued at approximately $451.7 million.
• Director Reed Hastings significantly reduced his stake by selling 25,959 shares, and CEO Theodore A. Sarandos also sold 2,026 shares, reflecting a major insider selling trend at Netflix.
• Netflix's stock currently has a consensus rating of "Moderate Buy" from analysts, with a price target of $1,317.58, following a strong quarterly earnings report that exceeded analysts' expectations.

Fred Alger Management LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 484,409 shares of the Internet television network's stock after buying an additional 26,773 shares during the period. Netflix comprises about 2.6% of Fred Alger Management LLC's investment portfolio, making the stock its 8th largest holding. Fred Alger Management LLC owned 0.11% of Netflix worth $451,726,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NFLX. Fullcircle Wealth LLC lifted its stake in shares of Netflix by 2.5% in the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after purchasing an additional 9 shares during the period. Capital Analysts LLC increased its position in Netflix by 0.3% in the first quarter. Capital Analysts LLC now owns 2,620 shares of the Internet television network's stock worth $2,443,000 after purchasing an additional 9 shares during the last quarter. Enterprise Financial Services Corp boosted its holdings in shares of Netflix by 1.8% in the 1st quarter. Enterprise Financial Services Corp now owns 505 shares of the Internet television network's stock worth $471,000 after purchasing an additional 9 shares during the period. Continuum Wealth Advisors LLC raised its position in Netflix by 4.4% in the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after purchasing an additional 10 shares during the period. Finally, Financial Enhancement Group LLC increased its stake in Netflix by 2.5% in the 1st quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after buying an additional 10 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wedbush reaffirmed an "outperform" rating and set a $1,500.00 target price (up previously from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Loop Capital reissued a "hold" rating on shares of Netflix in a research note on Tuesday, July 15th. Piper Sandler boosted their price target on Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Barclays reissued a "sell" rating and issued a $1,100.00 price objective (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,317.58.

Insider Buying and Selling

In related news, CEO Theodore A. Sarandos sold 2,026 shares of the business'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 value of $2,351,416.12. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reed Hastings sold 25,959 shares of Netflix stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total transaction of $31,350,943.89. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at approximately $475,837.74. This trade represents a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,348 shares of company stock worth $109,498,489. 1.37% of the stock is owned by company insiders.

Netflix Price Performance

Netflix stock traded up $18.49 during midday trading on Tuesday, reaching $1,263.25. 2,215,844 shares of the company were exchanged, compared to its average volume of 2,443,071. Netflix, Inc. has a 1 year low of $660.80 and a 1 year high of $1,341.15. The firm's 50-day simple moving average is $1,223.47 and its 200-day simple moving average is $1,126.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $536.79 billion, a price-to-earnings ratio of 53.82, a P/E/G ratio of 2.10 and a beta of 1.60.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly 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. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period in the prior year, the firm posted $4.88 earnings per share. The firm's revenue was up 15.9% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, 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.