L2 Asset Management LLC Acquires 20,927 Shares of Netflix, Inc. $NFLX

Key Points

• L2 Asset Management LLC increased its Netflix stake by 1,053.7% in the fourth quarter, buying an additional 20,927 shares and ending with 22,913 shares valued at about $2.15 million.
• Netflix saw notable insider selling, including CEO Theodore A. Sarandos and Director Reed Hastings, with insiders selling 1.31 million shares worth about $120.3 million over the last three months.
• The company recently beat quarterly expectations with $1.23 EPS on $12.25 billion in revenue, while analysts maintain a Moderate Buy rating and a consensus price target of about $114.39.

L2 Asset Management LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1,053.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,913 shares of the Internet television network's stock after acquiring an additional 20,927 shares during the quarter. L2 Asset Management LLC's holdings in Netflix were worth $2,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Apriem Advisors increased its stake in Netflix by 0.6% in the third quarter. Apriem Advisors now owns 1,567 shares of the Internet television network's stock valued at $1,879,000 after acquiring an additional 9 shares during the period. Tortoise Investment Management LLC increased its stake in Netflix by 10.8% in the third quarter. Tortoise Investment Management LLC now owns 92 shares of the Internet television network's stock valued at $110,000 after acquiring an additional 9 shares during the period. Brass Tax Wealth Management Inc. increased its stake in Netflix by 3.2% in the third quarter. Brass Tax Wealth Management Inc. now owns 288 shares of the Internet television network's stock valued at $345,000 after acquiring an additional 9 shares during the period. Pacific Sun Financial Corp increased its stake in Netflix by 1.6% in the third quarter. Pacific Sun Financial Corp now owns 574 shares of the Internet television network's stock valued at $688,000 after acquiring an additional 9 shares during the period. Finally, RS Crum Inc. increased its stake in Netflix by 3.6% in the third quarter. RS Crum Inc. now owns 288 shares of the Internet television network's stock valued at $345,000 after acquiring an additional 10 shares during the period. Institutional investors own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In other news, CEO Theodore A. Sarandos sold 27,312 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $87.97, for a total transaction of $2,402,636.64. Following the sale, the chief executive officer directly owned 284,804 shares of the company's stock, valued at $25,054,207.88. This represents a 8.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Reed Hastings sold 386,700 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $85.97, for a total transaction of $33,244,599.00. Following the sale, the director directly owned 3,940 shares in the company, valued at $338,721.80. This trade represents a 98.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,313,029 shares of company stock valued at $120,315,776 over the last three months. Insiders own 1.24% of the company's stock.

Netflix Price Performance

Shares of Netflix stock opened at $78.72 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $331.47 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 1.04 and a beta of 1.50. Netflix, Inc. has a 1-year low of $75.01 and a 1-year high of $134.12. The firm's 50-day moving average price is $90.19 and its two-hundred day moving average price is $90.65.

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

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Netflix’s reported interest in content assets like Lionsgate highlights that the company has financial flexibility and strategic optionality to expand its library if it chooses to pursue acquisitions. Netflix eyes Lionsgate after losing to Fox on Roku deal: report
• Positive Sentiment: Netflix’s expanded iHeartMedia podcast partnership adds more celebrity-driven content and live programming, which could help deepen engagement and broaden the service beyond traditional films and series. Netflix expands iHeartMedia partnership, adds Kate Hudson, Martha Stewart podcast shows
• Neutral Sentiment: Netflix confirmed it will announce second-quarter 2026 results on July 16, keeping investors focused on the next earnings update and forward guidance. Netflix to Announce Second Quarter 2026 Financial Results
• Neutral Sentiment: Several articles frame Netflix as a buy-the-dip candidate after its recent slide, but these are analyst/opinion pieces rather than company-specific operational news. Netflix vs Disney: What's the Better Stock to Buy Right Now?
• Negative Sentiment: Netflix shares are being weighed down by the Fox-Roku deal, which could create a stronger streaming competitor and pressure Netflix’s growth narrative. Why Fox-Roku deal is hitting Netflix stock today
• Negative Sentiment: Rumors that Netflix missed out on a major bid for Roku and other acquisition opportunities are creating concern that the company could be losing strategic ground in the streaming consolidation race. Netflix (NFLX) Has Lost Out on Another Big Acquisition and Its Stock Is Being Punished

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NFLX. HSBC upped their target price on shares of Netflix from $106.00 to $114.00 and gave the company a "buy" rating in a research note on Friday, April 10th. Seaport Research Partners upped their price objective on shares of Netflix from $115.00 to $119.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. Erste Group Bank cut shares of Netflix from a "buy" rating to a "hold" rating in a research note on Monday, April 27th. Morgan Stanley reaffirmed an "overweight" rating on shares of Netflix in a research note on Friday, April 17th. Finally, Needham & Company LLC reaffirmed a "buy" rating on shares of Netflix 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 sixteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.39.

Netflix Company 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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