Gerber Kawasaki Wealth & Investment Management Sells 1,001 Shares of Netflix, Inc. $NFLX

Key Points

• Gerber Kawasaki Wealth & Investment Management sold 1,001 shares of Netflix, Inc., reducing its stake by 2.7% to own 35,785 shares, valued at approximately $33.37 million.
• Several analysts maintain a positive outlook on Netflix, with a consensus rating of "Moderate Buy" and an average price target of $1,297.66.
• Insiders, including CFO Spencer Adam Neumann, sold significant portions of their shares recently, indicating a potential shift in insider sentiment towards the stock.

Gerber Kawasaki Wealth & Investment Management lowered its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,785 shares of the Internet television network's stock after selling 1,001 shares during the period. Netflix makes up 1.5% of Gerber Kawasaki Wealth & Investment Management's holdings, making the stock its 19th biggest holding. Gerber Kawasaki Wealth & Investment Management's holdings in Netflix were worth $33,371,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC increased its position in shares of 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 purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new stake in Netflix in the fourth quarter valued at about $27,000. Copia Wealth Management acquired a new stake in Netflix in the fourth quarter valued at about $37,000. Stuart Chaussee & Associates Inc. boosted its stake in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after buying an additional 45 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Netflix in the first quarter valued at about $42,000. Institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a research note on Monday, July 21st. Citigroup reaffirmed a "neutral" rating and issued a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Rosenblatt Securities raised their price objective on Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Finally, Loop Capital reaffirmed a "hold" rating on shares of Netflix in a research note on Tuesday, July 15th. One 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix Stock Performance

Shares of NFLX stock opened at $1,223.50 on Thursday. The business's 50-day moving average price is $1,231.40 and its 200-day moving average price is $1,114.62. Netflix, Inc. has a 12 month low of $660.80 and a 12 month high of $1,341.15. The firm has a market capitalization of $519.90 billion, a price-to-earnings ratio of 52.13, a PEG ratio of 2.06 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

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, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the firm posted $4.88 earnings per share. The business's revenue for the quarter 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. Equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,290,418.40. The trade was a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reed Hastings sold 26,933 shares of Netflix stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at approximately $477,394.04. This represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,163 shares of company stock valued at $151,917,174 over the last 90 days. 1.37% of the stock is currently owned by corporate insiders.

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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