Netflix, Inc. $NFLX Holdings Raised by Sage Mountain Advisors LLC

Key Points

• Sage Mountain Advisors LLC increased its stake in Netflix by 13.6% during the second quarter, now holding a total of 3,208 shares worth approximately $4.3 million.
• Insider sales include Reed Hastings selling 42,176 shares for nearly $49.4 million and CEO Theodore A. Sarandos selling 2,026 shares totaling around $2.4 million.
• Netflix's recent earnings report revealed $5.87 EPS, missing estimates by $1.01, with revenues of $11.51 billion, demonstrating a year-over-year growth of 17.2%.

Sage Mountain Advisors LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 13.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,208 shares of the Internet television network's stock after buying an additional 383 shares during the quarter. Sage Mountain Advisors LLC's holdings in Netflix were worth $4,296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BG Investment Services Inc. purchased a new stake in Netflix in the 2nd quarter worth approximately $338,000. Resurgent Financial Advisors LLC raised its holdings in shares of Netflix by 234.4% during the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock valued at $942,000 after purchasing an additional 708 shares in the last quarter. MRA Advisory Group raised its holdings in shares of Netflix by 28.4% during the 2nd quarter. MRA Advisory Group now owns 919 shares of the Internet television network's stock valued at $1,231,000 after purchasing an additional 203 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Netflix by 42.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 441,861 shares of the Internet television network's stock valued at $412,059,000 after purchasing an additional 130,946 shares in the last quarter. Finally, Sava Infond d.o.o. raised its holdings in shares of Netflix by 25.1% during the 2nd quarter. Sava Infond d.o.o. now owns 1,495 shares of the Internet television network's stock valued at $2,002,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Activity

In related news, Director Reed Hastings sold 42,176 shares of Netflix stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the completion of the transaction, the director directly owned 394 shares of the company's stock, valued at $461,736.48. This trade represents a 99.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction dated 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 transaction, the chief executive officer directly owned 15,168 shares of the company's stock, valued at $17,604,284.16. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock worth $122,710,980 over the last ninety days. Corporate insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NFLX. Canaccord Genuity Group restated a "buy" rating and set a $1,525.00 price target on shares of Netflix in a report on Wednesday. Citigroup restated a "neutral" rating and set a $1,295.00 price target (up previously from $1,280.00) on shares of Netflix in a report on Friday, October 3rd. Wedbush lowered their target price on shares of Netflix from $1,500.00 to $1,400.00 and set an "outperform" rating on the stock in a research note on Wednesday. Wells Fargo & Company lowered their target price on shares of Netflix from $1,560.00 to $1,510.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Benchmark reiterated a "hold" rating on shares of Netflix in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,352.78.

Netflix Stock Performance

NASDAQ NFLX opened at $1,094.69 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.34. The firm has a market capitalization of $463.85 billion, a price-to-earnings ratio of 45.73, a P/E/G ratio of 1.92 and a beta of 1.59. The company's fifty day moving average is $1,207.21 and its two-hundred day moving average is $1,185.28. Netflix, Inc. has a 52-week low of $747.77 and a 52-week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share for the quarter, missing the consensus estimate of $6.88 by ($1.01). Netflix had a net margin of 24.05% and a return on equity of 41.86%. The business had revenue of $11.51 billion for the quarter, compared to analyst estimates of $11.52 billion. During the same quarter last year, the firm posted $5.40 earnings per share. Netflix's revenue was up 17.2% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. Equities research analysts forecast that Netflix, Inc. will post 24.58 EPS 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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