Netflix, Inc. $NFLX Position Decreased by Eads & Heald Wealth Management

Key Points

• Eads & Heald Wealth Management reduced its stake in Netflix by 15.4% in Q2, now holding 2,592 shares, representing about 1.7% of their portfolio valued at approximately $3.47 million.
• Netflix's Chief Financial Officer and CEO sold shares recently, contributing to insider trading totaling over $122 million in the past three months, while insiders own just 1.37% of the company's stock.
• Analysts have shown positive sentiment, with multiple firms increasing their price targets for Netflix; the consensus price target is now $1,335.00, reflecting a strong overall outlook on the stock.

Eads & Heald Wealth Management cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 15.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,592 shares of the Internet television network's stock after selling 471 shares during the quarter. Netflix comprises about 1.7% of Eads & Heald Wealth Management's investment portfolio, making the stock its 7th largest position. Eads & Heald Wealth Management's holdings in Netflix were worth $3,471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fishman Jay A Ltd. MI purchased a new stake in shares of Netflix in the second quarter valued at about $233,000. Chung Wu Investment Group LLC boosted its position in Netflix by 8.5% during the 2nd quarter. Chung Wu Investment Group LLC now owns 700 shares of the Internet television network's stock worth $937,000 after purchasing an additional 55 shares during the period. Sendero Wealth Management LLC raised its position in Netflix by 149.8% in the second quarter. Sendero Wealth Management LLC now owns 2,101 shares of the Internet television network's stock valued at $2,814,000 after purchasing an additional 1,260 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Netflix by 8.2% during the second quarter. DAVENPORT & Co LLC now owns 15,335 shares of the Internet television network's stock worth $20,535,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Grimes & Company Inc. boosted its holdings in Netflix by 18.9% in the 2nd quarter. Grimes & Company Inc. now owns 447 shares of the Internet television network's stock worth $599,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Sanford C. Bernstein upped their target price on Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Wedbush reaffirmed an "outperform" rating and set a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. TD Cowen increased their target price on Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Piper Sandler boosted their price target on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,335.00.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,600 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,172.51, for a total transaction of $3,048,526.00. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,327,734.41. This trade represents a 41.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the sale, the chief executive officer directly owned 15,168 shares in the company, valued at $17,604,284.16. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,100 shares of company stock worth $122,710,980. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,153.32 on Monday. Netflix, Inc. has a 52 week low of $677.88 and a 52 week high of $1,341.15. The firm has a market cap of $490.08 billion, a price-to-earnings ratio of 49.14, a P/E/G ratio of 1.94 and a beta of 1.59. 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 business's 50-day simple moving average is $1,207.36 and its 200-day simple moving average is $1,161.81.

Netflix (NASDAQ:NFLX - Get Free Report) last posted 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. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the business posted $4.88 EPS. Netflix's revenue 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. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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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