Netflix, Inc. $NFLX is Jericho Capital Asset Management L.P.'s 2nd Largest Position

Key Points

• Jericho Capital Asset Management L.P. has reduced its stake in Netflix, Inc. by 29.3%, now holding 579,000 shares, which accounts for 9.8% of its portfolio and makes Netflix its second largest position.
• Netflix reported earnings per share (EPS) of $7.19, exceeding analysts' expectations, with quarterly revenue increasing by 15.9% year-over-year to $11.08 billion.
• Institutional investors and hedge funds own approximately 80.93% of Netflix's stock, indicating strong institutional interest in the company.

Jericho Capital Asset Management L.P. cut its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 29.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 579,000 shares of the Internet television network's stock after selling 240,000 shares during the quarter. Netflix accounts for 9.8% of Jericho Capital Asset Management L.P.'s portfolio, making the stock its 2nd biggest holding. Jericho Capital Asset Management L.P. owned 0.14% of Netflix worth $539,935,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after purchasing an additional 144 shares during the period. Bridgefront Capital LLC purchased a new stake in Netflix during the fourth quarter worth about $218,000. Colonial Trust Co SC grew its position in Netflix by 191.7% during the fourth quarter. Colonial Trust Co SC now owns 913 shares of the Internet television network's stock worth $814,000 after buying an additional 600 shares during the period. Finally, EP Wealth Advisors LLC increased its holdings in Netflix by 4.7% in the fourth quarter. EP Wealth Advisors LLC now owns 17,592 shares of the Internet television network's stock valued at $15,680,000 after buying an additional 789 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Trading Up 2.6%

Netflix stock opened at $1,257.48 on Friday. The stock has a 50-day moving average price of $1,226.94 and a 200 day moving average price of $1,122.36. Netflix, Inc. has a 52 week low of $660.80 and a 52 week high of $1,341.15. The stock has a market cap of $534.34 billion, a PE ratio of 53.58, a P/E/G ratio of 2.06 and a beta of 1.60. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 2,600 shares of Netflix stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 directly owned 3,691 shares of the company's stock, valued at approximately $4,457,842.16. The trade was a 41.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 424 shares of the business's stock in a transaction 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 $36,625,558.70. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,348 shares of company stock valued at $109,498,489 in the last 90 days. Insiders own 1.37% of the company's stock.

Analyst Ratings Changes

NFLX has been the topic of several research analyst reports. Barclays reissued a "sell" rating and set a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Canaccord Genuity Group reissued a "buy" rating on shares of Netflix in a report on Thursday, July 10th. BMO Capital Markets restated an "outperform" rating and issued a $1,425.00 price target (up previously from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Wells Fargo & Company boosted their price objective on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Finally, Phillip Securities cut shares of Netflix from a "hold" rating to a "strong sell" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Netflix currently has an average rating of "Moderate Buy" and an average price target of $1,317.58.

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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