Guggenheim Capital LLC Cuts Stake in Netflix, Inc. $NFLX

Key Points

• Guggenheim Capital LLC has reduced its stake in Netflix, Inc. by 21.6%, now holding 87,475 shares worth approximately $81.57 million, making it the firm's 15th largest investment.
• Notable insider sales include Reed Hastings, who sold 26,933 shares valued at about $32.63 million, reducing his ownership by 98.56%.
• Analysts have mixed ratings for Netflix, with a consensus price target of $1,297.66 and a majority rating it as a "Moderate Buy."

Guggenheim Capital LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 21.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,475 shares of the Internet television network's stock after selling 24,073 shares during the quarter. Netflix comprises about 0.7% of Guggenheim Capital LLC's investment portfolio, making the stock its 15th biggest position. Guggenheim Capital LLC's holdings in Netflix were worth $81,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Halbert Hargrove Global Advisors LLC increased its position in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix during the fourth quarter worth about $27,000. Copia Wealth Management purchased a new stake in shares of Netflix during the fourth quarter worth about $37,000. Stuart Chaussee & Associates Inc. increased its position in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after acquiring an additional 45 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix during the first quarter worth about $42,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Reed Hastings sold 26,933 shares of the business's 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 transaction 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. The trade was a 98.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's 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 owned 3,691 shares of the company's stock, valued at approximately $4,290,418.40. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,667 shares of company stock valued at $178,679,156. Corporate insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NFLX. TD Cowen lifted their target price on Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Seaport Res Ptn downgraded Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Needham & Company LLC reiterated a "buy" rating and issued a $1,500.00 price target on shares of Netflix in a research note on Friday, July 18th. Rosenblatt Securities lifted their price target on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Sanford C. Bernstein lifted their price target on Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. One research 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Stock Performance

Shares of NFLX stock opened at $1,226.09 on Wednesday. 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 business has a 50 day moving average of $1,231.37 and a two-hundred day moving average of $1,113.86. Netflix, Inc. has a 52 week low of $660.80 and a 52 week high of $1,341.15. The company has a market cap of $521.00 billion, a P/E ratio of 52.24, a PEG ratio of 2.05 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its 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. The company had revenue of $11.08 billion during 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%.Netflix's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous 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. As a group, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

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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