Netflix, Inc. $NFLX Shares Bought by Opes Wealth Management LLC

Key Points

• Opes Wealth Management LLC increased its stake in Netflix, owning 21,464 shares after acquiring an additional 20,751 shares, making it the fund's second largest position at nearly $28.7 million.
• Netflix reported $5.87 EPS in its recent earnings, missing consensus estimates, but achieved a revenue of $11.51 billion, marking a 17.2% year-over-year increase.
• Insider trading activity shows that CEO Theodore A. Sarandos and CFO Spencer Adam Neumann both sold significant shares, collectively worth over $5.3 million.

Opes Wealth Management LLC grew its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2,910.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,464 shares of the Internet television network's stock after purchasing an additional 20,751 shares during the quarter. Netflix makes up about 5.1% of Opes Wealth Management LLC's holdings, making the stock its 2nd largest position. Opes Wealth Management LLC's holdings in Netflix were worth $28,742,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Stephens Consulting LLC lifted its stake in Netflix by 150.0% in the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network's stock valued at $33,000 after buying an additional 15 shares during the last quarter. Maseco LLP acquired a new position in shares of Netflix in the 2nd quarter valued at $39,000. LGT Financial Advisors LLC purchased a new stake in Netflix in the 2nd quarter valued at $40,000. Mid American Wealth Advisory Group Inc. acquired a new stake in Netflix during the 2nd quarter worth $44,000. Finally, Ransom Advisory Ltd purchased a new position in Netflix during the 2nd quarter worth $47,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NFLX stock opened at $1,113.59 on Friday. The firm has a fifty day simple moving average of $1,210.10 and a 200-day simple moving average of $1,183.73. The company has a market capitalization of $473.19 billion, a PE ratio of 46.52, a price-to-earnings-growth ratio of 1.89 and a beta of 1.59. Netflix, Inc. has a twelve month low of $746.25 and a twelve month high of $1,341.15. The company has a current ratio of 1.33, a quick ratio of 1.34 and a debt-to-equity ratio of 0.56.

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 company had revenue of $11.51 billion for the quarter, compared to analysts' expectations of $11.52 billion. Netflix had a net margin of 24.05% and a return on equity of 41.86%. The company's revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the company earned $5.40 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Netflix from $1,560.00 to $1,510.00 and set an "overweight" rating for the company in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Netflix from $1,300.00 to $1,275.00 and set a "neutral" rating for the company in a research report on Wednesday. Guggenheim reissued a "buy" rating and issued a $1,450.00 target price on shares of Netflix in a report on Wednesday. Citigroup restated a "neutral" rating and issued a $1,295.00 price target (up previously from $1,280.00) on shares of Netflix in a report on Friday, October 3rd. Finally, Wall Street Zen lowered shares of Netflix from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,352.78.

Insider Activity

In other Netflix news, 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 completion of 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 transaction 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 stock in a transaction 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 transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,290,418.40. This trade represents a 41.34% decrease in their position. 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.

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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