DoubleLine ETF Adviser LP Trims Stock Position in Netflix, Inc. $NFLX

Key Points

• DoubleLine ETF Adviser LP reduced its stake in Netflix, Inc. by 24.1%, leaving it with 5,775 shares, making it the firm's 10th largest position with a value of approximately $5.4 million.
• Analysts have mixed ratings on Netflix's stock, with BMO Capital Markets raising its target price to $1,425 and Zacks Research downgrading it from "strong-buy" to "hold."
• Insiders have sold a substantial amount of Netflix shares recently, with key executives selling over 89,000 shares valued at approximately $109.5 million in the last 90 days.

DoubleLine ETF Adviser LP cut its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 24.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,775 shares of the Internet television network's stock after selling 1,833 shares during the quarter. Netflix accounts for about 1.8% of DoubleLine ETF Adviser LP's investment portfolio, making the stock its 10th largest holding. DoubleLine ETF Adviser LP's holdings in Netflix were worth $5,385,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fullcircle Wealth LLC lifted its holdings in shares of Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after buying an additional 9 shares during the period. Capital Analysts LLC lifted its holdings in shares of Netflix by 0.3% during the 1st quarter. Capital Analysts LLC now owns 2,620 shares of the Internet television network's stock valued at $2,443,000 after buying an additional 9 shares during the period. Enterprise Financial Services Corp lifted its holdings in shares of Netflix by 1.8% during the 1st quarter. Enterprise Financial Services Corp now owns 505 shares of the Internet television network's stock valued at $471,000 after buying an additional 9 shares during the period. Continuum Wealth Advisors LLC lifted its stake in shares of Netflix by 4.4% in the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after purchasing an additional 10 shares during the period. Finally, Financial Enhancement Group LLC lifted its stake in shares of Netflix by 2.5% in the 1st quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after purchasing an additional 10 shares during the period. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

NFLX stock traded down $13.66 during midday trading on Friday, hitting $1,243.82. The company's stock had a trading volume of 2,378,410 shares, compared to its average volume of 2,541,951. Netflix, Inc. has a 12 month low of $660.80 and a 12 month high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $528.54 billion, a price-to-earnings ratio of 53.00, a price-to-earnings-growth ratio of 2.09 and a beta of 1.60. The company has a 50 day moving average of $1,225.36 and a two-hundred day moving average of $1,124.35.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $11.04 billion. During the same period in the prior year, the company posted $4.88 EPS. The firm's revenue for the quarter 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, analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, Director Reed Hastings sold 25,959 shares of the company's 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 transaction, the director directly owned 394 shares in the company, valued at $475,837.74. This represents a 98.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at $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. Over the last quarter, insiders have sold 89,348 shares of company stock valued at $109,498,489. 1.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NFLX shares. Sanford C. Bernstein increased their price objective on shares of Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Jefferies Financial Group reiterated a "buy" rating on shares of Netflix in a research note on Tuesday, August 12th. Phillip Securities downgraded Netflix from a "hold" rating to a "strong sell" rating in a research note on Monday, July 21st. Citigroup reiterated a "neutral" rating and set a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, Oppenheimer boosted their price objective on Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and a consensus price target of $1,317.58.

Netflix 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.