Great Lakes Advisors LLC Decreases Stake in Netflix, Inc. $NFLX

Key Points

• Great Lakes Advisors LLC reduced its Netflix holdings by 7.9%, ending the first quarter with 22,845 shares valued at approximately $21.57 million.
• Shares of Netflix opened at $1,243.82 with a market capitalization of $528.54 billion and a twelve-month stock price range between $660.80 and $1,341.15.
• Netflix reported $7.19 earnings per share for the last quarter, surpassing analyst expectations, and has set its FY 2025 EPS guidance at 6.870.

Great Lakes Advisors LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,845 shares of the Internet television network's stock after selling 1,957 shares during the quarter. Great Lakes Advisors LLC's holdings in Netflix were worth $21,573,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC boosted its position in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $27,000. Copia Wealth Management purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $37,000. Stuart Chaussee & Associates Inc. boosted its holdings in shares of 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 purchasing an additional 45 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix in the first quarter valued at approximately $42,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 1.5%

Shares of NASDAQ NFLX traded up $18.49 during mid-day 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. 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 stock has a market cap 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, Inc. has a 1 year low of $660.80 and a 1 year high of $1,341.15. The firm has a 50-day moving average of $1,222.86 and a 200 day moving average of $1,127.68.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly 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. The business had revenue of $11.08 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period 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. On average, research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In related news, Director Reed Hastings sold 25,959 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total transaction of $31,350,943.89. Following the completion of the sale, the director owned 394 shares of the company's stock, valued at $475,837.74. This represents a 98.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 12,781 shares of the company's stock, valued at $14,793,240.64. The trade was a 13.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,348 shares of company stock valued at $109,498,489 over the last three months. Company insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NFLX shares. Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. Morgan Stanley reiterated an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the stock an "outperform" rating in a research note on Friday, May 16th. Bank of America upped their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Finally, Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,317.58.

About Netflix

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.