Merit Financial Group LLC Grows Position in Netflix, Inc. $NFLX

Key Points

• Merit Financial Group LLC increased its stake in Netflix by 22.1% in Q2, holding 16,207 shares valued at $21.7 million at the quarter's end.
• Several institutional investors, including Simplicity Wealth LLC with a 98.8% increase, also expanded their positions in Netflix during the same period.
• Netflix's stock received mixed ratings from analysts, with a consensus of "Moderate Buy" and an average price target of $1,335.00, despite recent sales by company insiders.

Merit Financial Group LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 22.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,207 shares of the Internet television network's stock after purchasing an additional 2,938 shares during the quarter. Merit Financial Group LLC's holdings in Netflix were worth $21,704,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Kercheville Advisors LLC boosted its stake in shares of Netflix by 3.9% during the second quarter. Kercheville Advisors LLC now owns 9,785 shares of the Internet television network's stock valued at $13,103,000 after purchasing an additional 365 shares during the period. Global Strategic Investment Solutions LLC lifted its stake in Netflix by 41.7% in the second quarter. Global Strategic Investment Solutions LLC now owns 438 shares of the Internet television network's stock worth $587,000 after acquiring an additional 129 shares during the period. Beacon Financial Advisory LLC lifted its stake in Netflix by 3.1% in the second quarter. Beacon Financial Advisory LLC now owns 1,421 shares of the Internet television network's stock worth $1,903,000 after acquiring an additional 43 shares during the period. Alta Wealth Advisors LLC lifted its stake in Netflix by 12.4% in the second quarter. Alta Wealth Advisors LLC now owns 580 shares of the Internet television network's stock worth $777,000 after acquiring an additional 64 shares during the period. Finally, Simplicity Wealth LLC lifted its stake in Netflix by 98.8% in the second quarter. Simplicity Wealth LLC now owns 7,307 shares of the Internet television network's stock worth $9,785,000 after acquiring an additional 3,632 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NFLX. Jefferies Financial Group reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, September 11th. Wall Street Zen lowered Netflix from a "buy" rating to a "hold" rating in a research note on Saturday. The Goldman Sachs Group dropped their price target on Netflix from $1,310.00 to $1,300.00 and set a "neutral" rating for the company in a research note on Tuesday, September 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,500.00 price target on shares of Netflix in a research note on Wednesday, September 10th. Finally, Sanford C. Bernstein raised their price target on Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. One 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 currently has a consensus rating of "Moderate Buy" and an average price target of $1,335.00.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 2,026 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the sale, the chief executive officer directly owned 12,781 shares in the company, valued at $14,793,240.64. The trade was a 13.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cletus R. Willems sold 238 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total value of $274,537.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,100 shares of company stock worth $122,710,980. 1.37% of the stock is owned by corporate insiders.

Netflix Price Performance

NASDAQ NFLX opened at $1,153.32 on Friday. Netflix, Inc. has a one year low of $677.88 and a one year high of $1,341.15. The stock has a 50-day moving average of $1,207.36 and a 200 day moving average of $1,160.35. The company has a market capitalization of $490.08 billion, a price-to-earnings ratio of 49.14, a PEG ratio of 1.94 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.Netflix's revenue for the quarter 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, sell-side 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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