Netflix, Inc. $NFLX Shares Acquired by Patten & Patten Inc. TN

Key Points

• Patten & Patten Inc. TN dramatically increased its Netflix stake by 1,233.4% in the fourth quarter, ending with 26,908 shares valued at about $2.52 million.
• Insider selling has been heavy, with Reed Hastings and CEO Theodore Sarandos among those selling shares; insiders sold about 1.46 million shares worth $138.1 million over the last three months.
• Analysts remain broadly constructive, with Netflix holding a “Moderate Buy” consensus and an average price target of $114.82, while the company also beat quarterly EPS and revenue expectations in its latest earnings report.

Patten & Patten Inc. TN grew its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1,233.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,908 shares of the Internet television network's stock after buying an additional 24,890 shares during the period. Patten & Patten Inc. TN's holdings in Netflix were worth $2,523,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Apriem Advisors boosted its holdings in shares of Netflix by 0.6% in the 3rd quarter. Apriem Advisors now owns 1,567 shares of the Internet television network's stock valued at $1,879,000 after buying an additional 9 shares in the last quarter. Tortoise Investment Management LLC boosted its holdings in shares of Netflix by 10.8% in the 3rd quarter. Tortoise Investment Management LLC now owns 92 shares of the Internet television network's stock valued at $110,000 after buying an additional 9 shares in the last quarter. Brass Tax Wealth Management Inc. boosted its holdings in shares of Netflix by 3.2% in the 3rd quarter. Brass Tax Wealth Management Inc. now owns 288 shares of the Internet television network's stock valued at $345,000 after buying an additional 9 shares in the last quarter. Pacific Sun Financial Corp boosted its holdings in shares of Netflix by 1.6% in the 3rd quarter. Pacific Sun Financial Corp now owns 574 shares of the Internet television network's stock valued at $688,000 after buying an additional 9 shares in the last quarter. Finally, Apex Wealth Management LLC boosted its holdings in shares of Netflix by 5.6% in the 3rd quarter. Apex Wealth Management LLC now owns 189 shares of the Internet television network's stock valued at $227,000 after buying an additional 10 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling

In other news, Director Reed Hastings sold 407,550 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $93.13, for a total value of $37,955,131.50. Following the completion of the sale, the director owned 3,940 shares in the company, valued at approximately $366,932.20. This trade represents a 99.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Theodore A. Sarandos sold 27,312 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total transaction of $2,402,636.64. Following the completion of the sale, the chief executive officer owned 284,804 shares of the company's stock, valued at $25,054,207.88. This trade represents a 8.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 1,458,944 shares of company stock worth $138,141,007. 1.37% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. KeyCorp restated an "overweight" rating and issued a $115.00 target price (up from $108.00) on shares of Netflix in a report on Tuesday, April 14th. HSBC increased their price target on shares of Netflix from $106.00 to $114.00 and gave the stock a "buy" rating in a research note on Friday, April 10th. Arete Research upgraded shares of Netflix from a "neutral" rating to a "buy" rating in a research note on Friday, February 27th. Weiss Ratings upgraded shares of Netflix from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday. Finally, Cfra upgraded shares of Netflix from a "hold" rating to a "buy" rating and set a $115.00 price target for the company in a research note on Friday, March 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and an average price target of $114.82.

Netflix Stock Down 0.9%

Shares of NASDAQ:NFLX opened at $87.45 on Friday. The stock has a market cap of $368.22 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.12 and a beta of 1.55. The firm has a fifty day moving average price of $95.44 and a 200 day moving average price of $96.08. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.41 and a quick ratio of 1.41. Netflix, Inc. has a 1-year low of $75.01 and a 1-year high of $134.12.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 16th. The Internet television network reported $1.23 EPS for the quarter, topping the consensus estimate of $0.76 by $0.47. Netflix had a net margin of 28.52% and a return on equity of 40.92%. The company had revenue of $12.25 billion during the quarter, compared to analysts' expectations of $12.17 billion. During the same quarter last year, the business earned $6.61 EPS. The business's revenue was up 16.2% on a year-over-year basis. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. Sell-side analysts predict that Netflix, Inc. will post 3.6 EPS for the current year.

Key Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Strong early reviews for Netflix’s new drama Remarkably Bright Creatures suggest a programming win that could help engagement and subscriber retention. Remarkably Bright Creatures Review
• Positive Sentiment: Recent analyst commentary remains constructive, with several firms maintaining or raising price targets and broader coverage still pointing to a “Moderate Buy” view. Netflix, Pulte, and Mobileye Are Buying Their Own Dips—Should You?
• Neutral Sentiment: Warner Bros. Discovery’s large quarterly loss included a $2.8 billion Netflix-related termination fee, but this is primarily an M&A accounting item for WBD rather than a direct operating signal for Netflix. WBD Logs $2.92B Loss
• Neutral Sentiment: Jim Cramer said Netflix is “not a buy, buy, buy,” reflecting caution around competition in streaming, but it was more of a valuation/positioning comment than a formal downgrade. Jim Cramer on Netflix
• Negative Sentiment: CEO Gregory K. Peters sold 27,312 shares and CFO Spencer Adam Neumann sold 9,253 shares on May 7, adding to recent insider selling and likely weighing on investor sentiment. Netflix Insider Selling
• Negative Sentiment: Technical and trading commentary points to continued weakness after the recent pullback, with the stock still below key moving averages and some investors questioning near-term upside. Is It Time To Reassess Netflix?

About Netflix

Netflix, Inc NASDAQ: NFLX is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company's primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

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