Netflix, Inc. $NFLX is Jag Capital Management LLC's 7th Largest Position

Key Points

• Jag Capital Management LLC has reduced its position in Netflix, Inc. by 22.9%, now holding 24,254 shares, which constitutes approximately 3.6% of its total portfolio.
• Hedge funds collectively own 80.93% of Netflix's stock, with several institutional investors increasing their holdings significantly in the last quarter.
• Analysts have set a consensus target price of $1,337.63 for Netflix, with ratings ranging from "Strong Buy" to "Sell" from various research firms.

Jag Capital Management LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 22.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,254 shares of the Internet television network's stock after selling 7,192 shares during the quarter. Netflix accounts for about 3.6% of Jag Capital Management LLC's holdings, making the stock its 7th largest holding. Jag Capital Management LLC's holdings in Netflix were worth $32,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Nuveen LLC purchased a new position in shares of Netflix in the 1st quarter worth about $2,385,585,000. Kingstone Capital Partners Texas LLC grew its position in Netflix by 343,058.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network's stock worth $3,299,450,000 after acquiring an additional 2,463,158 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Netflix by 57.3% during 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 acquiring an additional 1,236,251 shares during the last quarter. Amundi grew its position in Netflix by 37.7% during the 1st quarter. Amundi now owns 2,070,221 shares of the Internet television network's stock worth $1,898,496,000 after acquiring an additional 567,251 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Netflix by 1.4% during 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 acquiring an additional 509,255 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on shares of Netflix from $1,310.00 to $1,300.00 and set a "neutral" rating for the company in a report on Tuesday, September 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Netflix in a report on Wednesday, October 8th. Sanford C. Bernstein upped their price target on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Wells Fargo & Company upped their price target on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, KeyCorp upped their price target on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,337.63.

Netflix Trading Down 0.1%

NASDAQ NFLX opened at $1,219.03 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 $1,211.81 and a two-hundred day simple moving average of $1,171.80. The stock has a market cap of $518.00 billion, a P/E ratio of 51.94, a price-to-earnings-growth ratio of 2.05 and a beta of 1.59.

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. The business had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business's revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted $4.88 EPS. 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.

Insider Buying and Selling

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm'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 in the company, valued at $4,290,418.40. This trade represents a 41.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 424 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the transaction, the insider owned 31,610 shares of the company's stock, valued at approximately $36,625,558.70. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock worth $122,710,980 over the last quarter. Company insiders own 1.37% of the company's stock.

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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