Netflix, Inc. $NFLX Position Lessened by Greatmark Investment Partners Inc.

Key Points

• Greatmark Investment Partners Inc. reduced its holdings in Netflix by 3.6%, bringing its ownership to 25,619 shares valued at approximately $34.3 million, making Netflix the firm's fourth largest position.
• Netflix reported $5.87 EPS for the latest quarter, missing analysts' expectations of $6.88, despite year-over-year revenue growth of 17.2% to $11.51 billion.
• Insiders at Netflix, including the CFO and CEO, have sold shares recently, with notable transactions reflecting significant decreases in their holdings.

Greatmark Investment Partners Inc. lowered its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,619 shares of the Internet television network's stock after selling 962 shares during the period. Netflix comprises 4.3% of Greatmark Investment Partners Inc.'s portfolio, making the stock its 4th largest position. Greatmark Investment Partners Inc.'s holdings in Netflix were worth $34,307,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after buying an additional 509,255 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Netflix by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock valued at $10,940,505,000 after purchasing an additional 304,399 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Netflix by 1.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network's stock valued at $4,844,436,000 after purchasing an additional 53,611 shares in the last quarter. Invesco Ltd. lifted its position in shares of Netflix by 8.3% during the first quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock worth $4,350,083,000 after purchasing an additional 356,617 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Netflix by 3.5% in the first quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network's stock worth $4,089,765,000 after purchasing an additional 148,675 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

NASDAQ NFLX opened at $1,241.35 on Wednesday. The stock has a market capitalization of $527.49 billion, a PE ratio of 52.89, a price-to-earnings-growth ratio of 2.08 and a beta of 1.59. The company has a 50 day moving average price of $1,214.20 and a two-hundred day moving average price of $1,182.49. Netflix, Inc. has a 12-month low of $744.26 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.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Tuesday, October 21st. The Internet television network reported $5.87 EPS for the quarter, missing the consensus estimate of $6.88 by ($1.01). The firm had revenue of $11.51 billion during the quarter, compared to the consensus estimate of $11.52 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business's revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the business earned $5.40 EPS. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. As a group, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,600 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $1,172.51, for a total value of $3,048,526.00. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,327,734.41. This represents a 41.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the completion of the transaction, the chief executive officer directly owned 15,168 shares of the company's stock, valued at $17,604,284.16. This trade represents a 11.78% decrease in their position. 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.

Analyst Ratings Changes

Several research firms recently issued reports on NFLX. Seaport Res Ptn raised Netflix from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Rosenblatt Securities increased their price target on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wall Street Zen downgraded Netflix from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Benchmark reissued a "hold" rating on shares of Netflix in a research note on Wednesday. Finally, KeyCorp lifted their price target on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Netflix has a consensus rating of "Moderate Buy" and a consensus target price of $1,336.69.

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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