Netflix, Inc. $NFLX Shares Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 38.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,375 shares of the Internet television network's stock after purchasing an additional 383 shares during the quarter. Modern Wealth Management LLC's holdings in Netflix were worth $1,282,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after buying an additional 257 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its stake in Netflix by 8.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 7,161 shares of the Internet television network's stock valued at $6,383,000 after buying an additional 588 shares during the last quarter. Sentinus LLC purchased a new stake in Netflix in the fourth quarter valued at approximately $235,000. Finally, Tang Capital Management LLC lifted its stake in Netflix by 214.8% in the fourth quarter. Tang Capital Management LLC now owns 1,344 shares of the Internet television network's stock valued at $1,198,000 after buying an additional 917 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 2,600 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $1,207.76, for a total transaction of $3,140,176.00. Following the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,457,842.16. This trade represents a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Reed Hastings sold 25,959 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the transaction, the director owned 394 shares in the company, valued at $475,837.74. This trade represents a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,348 shares of company stock valued at $109,498,489 in the last three months. 1.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NFLX shares. Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. JPMorgan Chase & Co. upped their price target on Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Citigroup restated a "neutral" rating and set a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. KeyCorp upped 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. Finally, Barclays restated a "sell" rating and set a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and a consensus price target of $1,317.58.

Netflix Trading Down 1.3%

Shares of NFLX stock opened at $1,188.44 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $505.00 billion, a PE ratio of 50.64, a P/E/G ratio of 2.03 and a beta of 1.60. Netflix, Inc. has a 1-year low of $677.88 and a 1-year high of $1,341.15. The business's fifty day moving average price is $1,218.15 and its 200 day moving average price is $1,132.43.

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 for the quarter, beating the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.Netflix's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.88 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS 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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