Greenleaf Trust Sells 531 Shares of Netflix, Inc. $NFLX

Key Points

• Greenleaf Trust reduced its holdings in Netflix, Inc. by 5.6%, now owning 8,970 shares valued at approximately $12 million.
• Despite the decrease from Greenleaf Trust, 80.93% of Netflix's stock is still owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Analyst ratings are largely positive, with the consensus being a "Moderate Buy" and an average price target of $1,328.87 for NFLX shares.

Greenleaf Trust lowered its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,970 shares of the Internet television network's stock after selling 531 shares during the quarter. Greenleaf Trust's holdings in Netflix were worth $12,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC lifted its holdings in 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 period. Flaharty Asset Management LLC bought a new position in shares of Netflix during the first quarter worth about $37,000. Maseco LLP acquired a new position in shares of Netflix in the second quarter worth approximately $39,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Netflix in the first quarter valued at approximately $42,000. Finally, 1248 Management LLC bought a new stake in Netflix in the first quarter valued at approximately $43,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NFLX shares. Needham & Company LLC restated a "buy" rating and set a $1,500.00 price target on shares of Netflix in a report on Wednesday, September 10th. Oppenheimer lifted their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. upped their price target on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. TD Cowen increased their price target on Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Canaccord Genuity Group reissued a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,328.87.

Netflix Stock Performance

Shares of NFLX opened at $1,206.41 on Tuesday. Netflix, Inc. has a one year low of $677.88 and a one year high of $1,341.15. The company has a market cap of $512.63 billion, a PE ratio of 51.40, a P/E/G ratio of 2.04 and a beta of 1.60. The stock has a 50-day moving average of $1,208.21 and a 200-day moving average of $1,155.55. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 42.50% and a net margin of 24.58%.The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business earned $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 sale, the director owned 394 shares of the company's stock, valued at approximately $475,837.74. This trade represents a 98.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Theodore A. Sarandos sold 2,026 shares of the business's stock in a transaction 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 sale, the chief executive officer owned 15,168 shares of the company's stock, valued at $17,604,284.16. This trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,324 shares of company stock worth $70,235,556 over the last quarter. Corporate insiders own 1.37% of the company's stock.

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.

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