Netflix, Inc. $NFLX Shares Acquired by Ethic Inc.

Key Points

• Ethic Inc. has increased its investment in Netflix, Inc. by 28.4% in the 2nd quarter, making the stock its 9th largest position with holdings worth approximately $60 million.
• Company insiders, including CEO Theodore A. Sarandos and CFO Spencer Adam Neumann, have sold a total of 104,100 shares of Netflix stock in the last 90 days, indicating a significant reduction in their ownership.
• Wall Street analysts have generally maintained a buy rating for Netflix, with a consensus target price of $1,344.19, although Goldman Sachs recently reduced its target price from $1,310 to $1,300.

Ethic Inc. boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 28.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,349 shares of the Internet television network's stock after buying an additional 10,019 shares during the quarter. Netflix accounts for approximately 1.1% of Ethic Inc.'s investment portfolio, making the stock its 9th largest position. Ethic Inc.'s holdings in Netflix were worth $60,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Netflix by 5.0% in 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 in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Netflix by 16.4% during 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 last quarter. GAMMA Investing LLC boosted its position in shares of Netflix by 17.6% in the 1st quarter. GAMMA Investing LLC now owns 9,475 shares of the Internet television network's stock valued at $8,836,000 after purchasing an additional 1,415 shares during the period. JFS Wealth Advisors LLC increased its stake in Netflix by 6.3% in the 1st quarter. JFS Wealth Advisors LLC now owns 544 shares of the Internet television network's stock worth $507,000 after purchasing an additional 32 shares in the last quarter. Finally, Continuum Advisory LLC raised its holdings in Netflix by 9.4% during the 1st quarter. Continuum Advisory LLC now owns 862 shares of the Internet television network's stock worth $804,000 after buying an additional 74 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Theodore A. Sarandos sold 2,026 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the transaction, the chief executive officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business'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 transaction of $3,023,402.40. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,290,418.40. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,100 shares of company stock valued at $122,710,980. 1.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several recent analyst reports. Cowen reiterated a "buy" rating on shares of Netflix in a report on Tuesday, October 7th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Pivotal Research reissued a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. The Goldman Sachs Group decreased their target price on Netflix from $1,310.00 to $1,300.00 and set a "neutral" rating for the company in a research report on Tuesday, September 30th. Finally, Guggenheim reissued a "buy" rating and set a $1,450.00 price target on shares of Netflix in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,344.19.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,139.82 on Wednesday. The firm has a market cap of $484.35 billion, a price-to-earnings ratio of 48.48, a P/E/G ratio of 2.08 and a beta of 1.59. Netflix, Inc. has a 1 year low of $744.26 and a 1 year high of $1,341.15. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $1,214.20 and a 200 day simple moving average of $1,182.49.

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

Netflix 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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