GK Wealth Management LLC Has $1.19 Million Position in Netflix, Inc. $NFLX

GK Wealth Management LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 52.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 885 shares of the Internet television network's stock after acquiring an additional 305 shares during the period. Netflix accounts for 1.1% of GK Wealth Management LLC's holdings, making the stock its 21st biggest position. GK Wealth Management LLC's holdings in Netflix were worth $1,185,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC lifted its stake in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix in the 4th quarter valued at about $27,000. Flaharty Asset Management LLC bought a new position in Netflix in the 1st quarter valued at about $37,000. Copia Wealth Management acquired a new stake in Netflix during the fourth quarter worth approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Netflix during the first quarter worth approximately $42,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Stock Down 1.3%

NFLX stock opened at $1,188.44 on Monday. Netflix, Inc. has a 52 week low of $677.88 and a 52 week high of $1,341.15. The business has a 50-day simple moving average of $1,218.15 and a 200 day simple moving average of $1,133.62. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market cap of $505.00 billion, a PE ratio of 50.64, a price-to-earnings-growth ratio of 2.00 and a beta of 1.60.

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, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. 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 earned $4.88 EPS. The business's quarterly revenue was up 15.9% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NFLX shares. Oppenheimer increased their target price on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. KeyCorp lifted their target price on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Piper Sandler upped their price target on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,317.58.

Insider Activity

In other Netflix news, CEO Theodore A. Sarandos sold 2,026 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the completion of the sale, the chief executive officer directly owned 15,168 shares in the company, valued at $17,604,284.16. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reed Hastings sold 25,959 shares of Netflix stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the completion of the transaction, the director owned 394 shares in the company, valued at approximately $475,837.74. The trade was a 98.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,348 shares of company stock valued at $109,498,489 in the last three months. Company insiders own 1.37% of the company's stock.

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.

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