MFG Wealth Management Inc. Invests $1.70 Million in Netflix, Inc. $NFLX

Key Points

• MFG Wealth Management Inc. has invested approximately $1.70 million in Netflix, acquiring 1,272 shares of the company.
• Significant activity from other institutional investors includes GAMMA Investing LLC increasing its holdings by 109,524.3% and Nuveen LLC acquiring a new position worth about $2.39 billion.
• In recent insider trading news, Netflix CFO Spencer Adam Neumann and Director Reed Hastings sold substantial portions of their shares, with Hastings' sale representing a 98.50% decrease in his holdings.

MFG Wealth Management Inc. acquired a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,272 shares of the Internet television network's stock, valued at approximately $1,703,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. GAMMA Investing LLC boosted its holdings in shares of Netflix by 109,524.3% in the 1st 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 in the last quarter. Nuveen LLC purchased a new position in shares of Netflix in the 1st quarter worth about $2,385,585,000. Goldman Sachs Group Inc. boosted its holdings in shares of Netflix by 57.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after purchasing an additional 1,236,251 shares in the last quarter. Amundi boosted its holdings in shares of Netflix by 37.7% in the 1st quarter. Amundi now owns 2,070,221 shares of the Internet television network's stock worth $1,898,496,000 after purchasing an additional 567,251 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Netflix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after purchasing an additional 509,255 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 2,600 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $1,207.76, for a total value of $3,140,176.00. Following the completion of the sale, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,457,842.16. This trade represents a 41.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Reed Hastings sold 25,959 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the completion of the sale, the director owned 394 shares of the company's stock, valued at approximately $475,837.74. This trade represents a 98.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,348 shares of company stock worth $109,498,489. Insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Zacks Research cut Netflix from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Pivotal Research restated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Rosenblatt Securities increased their target price on Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a report on Friday, July 18th. Oppenheimer increased their target price on Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Finally, Piper Sandler increased their target price on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,317.58.

Netflix Trading Up 1.2%

NASDAQ NFLX opened at $1,202.26 on Tuesday. 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 stock has a 50 day simple moving average of $1,216.40 and a two-hundred day simple moving average of $1,135.17. The stock has a market cap of $510.88 billion, a P/E ratio of 51.23, a price-to-earnings-growth ratio of 2.00 and a beta of 1.60.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the business posted $4.88 EPS. The business'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. On average, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

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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