LeConte Wealth Management LLC Acquires New Position in Netflix, Inc. $NFLX

Key Points

• LeConte Wealth Management LLC acquired a new position in Netflix, purchasing 351 shares valued at approximately $470,000 in Q2.
• Insider transactions included CEO Theodore A. Sarandos selling 2,026 shares and CFO Spencer Adam Neumann selling 2,600 shares, indicating notable decreases in their stock holdings.
• Netflix's stock opened at $1,203.95, experiencing a 1.2% decline, despite reporting better-than-expected earnings and revenue for the last quarter.

LeConte Wealth Management LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 351 shares of the Internet television network's stock, valued at approximately $470,000.

A number of other institutional investors have also bought and sold shares of NFLX. Brighton Jones LLC lifted its position in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after buying an additional 257 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares in the last quarter. Total Wealth Planning & Management Inc. acquired a new stake in shares of Netflix in the 4th quarter worth $222,000. Copia Wealth Management acquired a new stake in shares of Netflix in the 4th quarter worth $37,000. Finally, Old North State Trust LLC raised its holdings in shares of Netflix by 12.4% during the 4th quarter. Old North State Trust LLC now owns 786 shares of the Internet television network's stock worth $701,000 after acquiring an additional 87 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction that occurred 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 directly owned 15,168 shares in the company, valued at $17,604,284.16. This represents a 11.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,600 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $1,207.76, for a total transaction of $3,140,176.00. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,457,842.16. This represents a 41.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,728 shares of company stock valued at $108,700,648. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Down 1.2%

Netflix stock opened at $1,203.95 on Thursday. Netflix, Inc. has a fifty-two week low of $677.88 and a fifty-two week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a 50 day moving average price of $1,210.04 and a 200 day moving average price of $1,145.57. The company has a market capitalization of $511.59 billion, a PE ratio of 51.30, a price-to-earnings-growth ratio of 2.05 and a beta of 1.60.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NFLX shares. Oppenheimer upped their price objective on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Pivotal Research reiterated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Bank of America increased their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Robert W. Baird raised their price target on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a research report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,328.87.

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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