Hartford Investment Management Co. Acquires 219,945 Shares of Netflix, Inc. $NFLX

Key Points

• Hartford Investment Management Co. sharply increased its Netflix stake in the fourth quarter, buying 219,945 additional shares and boosting holdings by 883.3% to 244,844 shares worth about $22.96 million.
• Several other institutional investors also added to Netflix positions, and institutions now own 80.93% of the company, signaling continued strong Wall Street interest in the stock.
• Despite some insider selling, analysts remain broadly positive: Netflix has a Moderate Buy consensus rating with a consensus price target of $114.82, while the company recently beat earnings expectations and posted 16.2% revenue growth year over year.

Hartford Investment Management Co. grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 883.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 244,844 shares of the Internet television network's stock after purchasing an additional 219,945 shares during the quarter. Netflix comprises approximately 0.7% of Hartford Investment Management Co.'s portfolio, making the stock its 20th biggest holding. Hartford Investment Management Co.'s holdings in Netflix were worth $22,957,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Netflix by 0.4% during the third quarter. Vanguard Group Inc. now owns 38,521,322 shares of the Internet television network's stock valued at $46,183,983,000 after buying an additional 142,238 shares during the period. Checchi Capital Advisers LLC lifted its position in Netflix by 875.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 31,143 shares of the Internet television network's stock valued at $2,920,000 after buying an additional 27,951 shares during the period. Contravisory Investment Management Inc. lifted its position in Netflix by 837.2% during the fourth quarter. Contravisory Investment Management Inc. now owns 111,380 shares of the Internet television network's stock valued at $10,443,000 after buying an additional 99,496 shares during the period. Crew Capital Management Ltd lifted its position in Netflix by 1,021.9% during the fourth quarter. Crew Capital Management Ltd now owns 9,031 shares of the Internet television network's stock valued at $847,000 after buying an additional 8,226 shares during the period. Finally, BNC Wealth Management LLC lifted its position in Netflix by 991.3% during the fourth quarter. BNC Wealth Management LLC now owns 41,229 shares of the Internet television network's stock valued at $3,866,000 after buying an additional 37,451 shares during the period. Institutional investors own 80.93% of the company's stock.

Insider Activity

In related news, Director Reed Hastings sold 420,550 shares of Netflix stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $95.49, for a total value of $40,158,319.50. Following the completion of the sale, the director directly owned 3,940 shares in the company, valued at approximately $376,230.60. This trade represents a 99.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David A. Hyman sold 5,722 shares of Netflix stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $88.08, for a total value of $503,993.76. Following the completion of the sale, the insider owned 316,100 shares of the company's stock, valued at $27,842,088. The trade was a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 1,422,769 shares of company stock valued at $135,144,073. 1.37% of the stock is currently owned by insiders.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix said its content investments have topped $135 billion over the past decade and generated an estimated $325 billion of economic impact worldwide, supporting more than 425,000 jobs. That reinforces the scale of its production engine and can bolster confidence in the long-term growth story. Reuters article
• Positive Sentiment: Investor sentiment also appears to be improving around Netflix’s pricing power and ad-supported business, with analysts and market commentary pointing to rising revenue, improving margins, and strong ad growth expectations. Benzinga article
• Positive Sentiment: Netflix is still drawing bullish Wall Street coverage, with recent analyst price targets clustering well above the current share price, suggesting many expect further upside if execution stays on track. Zacks article
• Neutral Sentiment: Netflix is also being highlighted in media comparisons versus Disney and other peers, but these pieces are mostly commentary on the streaming landscape rather than new company-specific fundamentals. 247WallSt article
• Negative Sentiment: Texas Attorney General Ken Paxton has sued Netflix, alleging the company illegally collected data on children and used “dark patterns” to make the platform addictive. Even if Netflix disputes the claims, the lawsuit creates legal, regulatory, and reputational risk that could pressure the stock. Reuters lawsuit article

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NFLX. Cfra raised shares of Netflix from a "hold" rating to a "buy" rating and set a $115.00 target price for the company in a research note on Friday, March 6th. Loop Capital set a $104.00 price target on Netflix in a research report on Tuesday, January 27th. Bank of America cut their price target on Netflix from $149.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, March 6th. KeyCorp restated an "overweight" rating and issued a $115.00 price target (up from $108.00) on shares of Netflix in a research note on Tuesday, April 14th. Finally, Guggenheim set a $120.00 price target on Netflix and gave the stock a "buy" rating in a research note on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.82.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $87.66 on Wednesday. Netflix, Inc. has a 1-year low of $75.01 and a 1-year high of $134.12. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.41 and a quick ratio of 1.41. The business has a fifty day moving average price of $95.38 and a 200-day moving average price of $95.37. The company has a market capitalization of $369.12 billion, a PE ratio of 28.31, a PEG ratio of 1.09 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The Internet television network reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.47. Netflix had a return on equity of 40.92% and a net margin of 28.52%.The firm had revenue of $12.25 billion during the quarter, compared to the consensus estimate of $12.17 billion. During the same period last year, the company earned $6.61 earnings per share. The company's revenue was up 16.2% on a year-over-year basis. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. As a group, equities analysts expect that Netflix, Inc. will post 3.6 EPS for the current fiscal year.

Netflix Profile

Netflix, Inc NASDAQ: NFLX is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company's primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

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