Netflix, Inc. $NFLX is Zurich Insurance Group Ltd FI's 10th Largest Position

Key Points

• Zurich Insurance Group Ltd FI holds 196,182 shares of Netflix, representing 1.5% of its investment portfolio and making it the 10th largest position in their holdings, valued at approximately $182.9 million.
• Recent trades by Netflix executives include Reed Hastings selling 25,959 shares for about $31.4 million, reflecting a 98.5% decrease in his position, while CEO Theodore A. Sarandos sold 2,026 shares for $2.35 million, a decrease of 11.78% in his ownership.
• Analysts have updated their ratings and target prices for Netflix, with several now setting a target of $1,500, reflecting an overall rating of "Moderate Buy" among market analysts.

Zurich Insurance Group Ltd FI trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 196,182 shares of the Internet television network's stock after selling 1,617 shares during the period. Netflix comprises 1.5% of Zurich Insurance Group Ltd FI's investment portfolio, making the stock its 10th largest position. Zurich Insurance Group Ltd FI's holdings in Netflix were worth $182,946,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in Netflix during the fourth quarter valued at about $27,000. Copia Wealth Management bought a new position in shares of Netflix during the fourth quarter valued at about $37,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Netflix during the first quarter valued at about $42,000. Finally, Stuart Chaussee & Associates Inc. increased its holdings in shares of Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Transactions at Netflix

In related news, Director Reed Hastings sold 25,959 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were 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 trade represents a 98.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 approximately $17,604,284.16. This trade 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 89,348 shares of company stock worth $109,498,489 over the last 90 days. 1.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NFLX has been the subject of several analyst reports. Robert W. Baird increased their target price on Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Wedbush reissued an "outperform" rating and set a $1,500.00 price objective (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Needham & Company LLC restated a "buy" rating and issued a $1,500.00 target price on shares of Netflix in a report on Friday, July 18th. Wolfe Research set a $1,340.00 price target on shares of Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, TD Cowen increased their price target on shares of Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and an average target price of $1,317.58.

Netflix Trading Up 0.1%

NASDAQ:NFLX opened at $1,244.76 on Tuesday. The company has a 50-day moving average price of $1,223.47 and a 200-day moving average price of $1,126.74. The stock has a market cap of $528.93 billion, a price-to-earnings ratio of 53.04, a P/E/G ratio of 2.09 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, Inc. has a 12 month low of $660.80 and a 12 month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter in the previous year, the company earned $4.88 earnings per share. Netflix's quarterly 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. Equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

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.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.