Marietta Wealth Management LLC Decreases Stock Holdings in Netflix, Inc. $NFLX

Key Points

• Marietta Wealth Management LLC reduced its stake in Netflix, Inc. by 3.4% during the second quarter, leaving it with 11,289 shares, which are valued at $15,117,000.
• Netflix shares closed the previous trading session down 0.8%, currently priced at $1,153.32, with a market capitalization of $490.08 billion.
• Insider trading activity saw Director Reed Hastings sell 42,176 shares for approximately $49.4 million, indicating a 99.07% decrease in his position.

Marietta Wealth Management LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,289 shares of the Internet television network's stock after selling 392 shares during the quarter. Netflix accounts for about 2.0% of Marietta Wealth Management LLC's holdings, making the stock its 13th largest position. Marietta Wealth Management LLC's holdings in Netflix were worth $15,117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Optima Capital LLC increased its position in shares of Netflix by 3.5% during the second quarter. Optima Capital LLC now owns 239 shares of the Internet television network's stock valued at $320,000 after acquiring an additional 8 shares during the last quarter. Unified Investment Management increased its position in shares of Netflix by 1.7% during the second quarter. Unified Investment Management now owns 474 shares of the Internet television network's stock valued at $635,000 after acquiring an additional 8 shares during the last quarter. Plancorp LLC increased its position in shares of Netflix by 0.6% during the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network's stock valued at $1,711,000 after acquiring an additional 8 shares during the last quarter. Five Oceans Advisors increased its position in shares of Netflix by 1.1% during the second quarter. Five Oceans Advisors now owns 751 shares of the Internet television network's stock valued at $1,006,000 after acquiring an additional 8 shares during the last quarter. Finally, Old Port Advisors increased its position in shares of Netflix by 1.3% during the second quarter. Old Port Advisors now owns 624 shares of the Internet television network's stock valued at $836,000 after acquiring an additional 8 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Down 0.8%

NFLX opened at $1,153.32 on Friday. The company has a market cap of $490.08 billion, a P/E ratio of 49.14, a P/E/G ratio of 1.94 and a beta of 1.59. The business's 50-day moving average price is $1,207.36 and its 200-day moving average price is $1,160.35. 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 $677.88 and a 12 month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) 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 company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the previous year, the business earned $4.88 EPS. Netflix's revenue was up 15.9% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, Director Reed Hastings sold 42,176 shares of Netflix stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the sale, the director directly owned 394 shares of the company's stock, valued at approximately $461,736.48. The trade was a 99.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the sale, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,290,418.40. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,100 shares of company stock worth $122,710,980 over the last 90 days. 1.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NFLX. Jefferies Financial Group reissued a "buy" rating on shares of Netflix in a research report on Thursday, September 11th. Zacks Research downgraded Netflix from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. KeyCorp raised their target price on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Loop Capital raised Netflix from a "hold" rating to a "buy" rating and raised their price target for the stock from $1,150.00 to $1,350.00 in a report on Wednesday, September 17th. Finally, Wells Fargo & Company raised their price target on Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Netflix presently has a consensus rating of "Moderate Buy" and an average target price of $1,335.00.

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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