Netflix, Inc. $NFLX Shares Sold by Mechanics Bank Trust Department

Key Points

• Mechanics Bank Trust Department reduced its stake in Netflix by 15.8% in Q2, selling 365 shares, leaving them with a total of 1,948 shares valued at approximately $2.6 million.
• Netflix has received mixed ratings from analysts, with one strong buy, 23 buys, nine holds, and three sells, resulting in an overall consensus rating of "Moderate Buy" and an average price target of $1,328.87.
• In the latest earnings report, Netflix reported earnings of $7.19 per share, surpassing estimates, with revenue of $11.08 billion for the quarter, marking a 15.9% year-over-year increase.

Mechanics Bank Trust Department lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 15.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,948 shares of the Internet television network's stock after selling 365 shares during the period. Mechanics Bank Trust Department's holdings in Netflix were worth $2,609,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after buying an additional 509,255 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Netflix by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock worth $10,940,505,000 after purchasing an additional 304,399 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Alliancebernstein L.P. increased its position in Netflix by 1.0% during the 1st quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network's stock valued at $4,844,436,000 after purchasing an additional 53,611 shares during the period. Finally, Invesco Ltd. raised its position in shares of Netflix by 8.3% in the 1st quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock worth $4,350,083,000 after acquiring an additional 356,617 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Netflix

In related news, Director Reed Hastings sold 25,959 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the completion of the transaction, the director directly owned 394 shares of the company's stock, valued at $475,837.74. This trade represents a 98.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the completion of the sale, the chief financial officer owned 3,691 shares in the company, valued at $4,290,418.40. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,348 shares of company stock worth $109,498,489. 1.37% of the stock is owned by insiders.

Netflix Trading Up 0.0%

NFLX traded up $0.40 on Monday, hitting $1,227.37. The company had a trading volume of 2,543,834 shares, compared to its average volume of 2,749,690. The company has a quick ratio of 1.34, a current 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. The company has a market cap of $521.55 billion, a PE ratio of 52.30, a PEG ratio of 2.07 and a beta of 1.60. The business's fifty day simple moving average is $1,211.80 and its 200 day simple moving average is $1,144.65.

Netflix (NASDAQ:NFLX - Get Free Report) last announced 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 net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter last year, the business posted $4.88 EPS. The firm's revenue for the quarter 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. Equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NFLX shares. Zacks Research lowered Netflix from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Rosenblatt Securities raised their price objective on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Citigroup reaffirmed a "neutral" rating and set a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Bank of America raised their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $1,500.00 price target on shares of Netflix in a research note on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Netflix presently has a consensus rating of "Moderate Buy" and an average target price of $1,328.87.

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.