Itau Unibanco Holding S.A. Trims Holdings in Netflix, Inc. $NFLX

Key Points

• Itau Unibanco Holding S.A. reduced its stake in Netflix, Inc. by 21% in the first quarter, owning 24,049 shares valued at approximately $22.4 million.
• Several hedge funds have actively altered their holdings of Netflix, with some increasing their stakes significantly, such as Halbert Hargrove Global Advisors, which lifted its holdings by 100%.
• Analysts have set new price targets for Netflix, with Sanford C. Bernstein and Oppenheimer raising their targets to $1,390.00 and $1,425.00, respectively, alongside an overall consensus rating of "Moderate Buy."

Itau Unibanco Holding S.A. cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,049 shares of the Internet television network's stock after selling 6,406 shares during the quarter. Netflix accounts for approximately 0.8% of Itau Unibanco Holding S.A.'s holdings, making the stock its 26th biggest position. Itau Unibanco Holding S.A.'s holdings in Netflix were worth $22,426,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC lifted its holdings 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 purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix during the fourth quarter worth $27,000. Copia Wealth Management acquired a new stake in shares of Netflix during the fourth quarter worth $37,000. Stuart Chaussee & Associates Inc. lifted its holdings 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 purchasing an additional 45 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Netflix during the first quarter worth $42,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NFLX shares. Sanford C. Bernstein increased their price target on Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Oppenheimer increased their price target on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Phillip Securities cut Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. Finally, The Goldman Sachs Group increased their price objective on Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insiders Place Their Bets

In other news, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the transaction, the chief executive officer directly owned 15,168 shares of the company's stock, valued at $17,604,284.16. The trade was a 11.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director directly owned 63,040 shares in the company, valued at $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,163 shares of company stock worth $151,917,174. 1.37% of the stock is owned by insiders.

Netflix Stock Down 0.2%

Shares of NASDAQ:NFLX opened at $1,223.50 on Thursday. The stock's 50-day moving average price is $1,231.40 and its two-hundred day moving average price is $1,114.62. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $660.80 and a 12-month high of $1,341.15. The firm has a market cap of $519.90 billion, a price-to-earnings ratio of 52.13, a PEG ratio of 2.06 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix Company 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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