Netflix, Inc. $NFLX Shares Sold by Baskin Financial Services Inc.

Key Points

• Baskin Financial Services Inc. reduced its Netflix holdings by 2.8%, owning 53,120 shares valued at approximately $71.1 million, making it the firm's second-largest position.
• CEO Theodore A. Sarandos and CFO Spencer Adam Neumann both sold shares of Netflix, with Sarandos decreasing his position by 11.78% and Neumann by 41.34% in recent transactions.
• Netflix's consensus rating is a "Moderate Buy" with an average target price of $1,337.63, despite a recent downgrade from Wall Street Zen from "buy" to "hold".

Baskin Financial Services Inc. lowered its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,120 shares of the Internet television network's stock after selling 1,510 shares during the period. Netflix comprises approximately 5.4% of Baskin Financial Services Inc.'s holdings, making the stock its 2nd largest position. Baskin Financial Services Inc.'s holdings in Netflix were worth $71,134,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Netflix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after acquiring an additional 509,255 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Netflix by 2.7% during 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 acquiring an additional 304,399 shares during the period. Alliancebernstein L.P. lifted its position in shares of Netflix by 1.0% during 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 acquiring an additional 53,611 shares during the period. Invesco Ltd. lifted its position in shares of Netflix by 8.3% during the 1st quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock valued at $4,350,083,000 after acquiring an additional 356,617 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Netflix by 3.5% during the 1st quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network's stock valued at $4,089,765,000 after acquiring an additional 148,675 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling

In other Netflix news, CEO Theodore A. Sarandos sold 2,026 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the transaction, the chief executive officer directly owned 15,168 shares in the company, valued at approximately $17,604,284.16. The trade was a 11.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,290,418.40. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock worth $122,710,980 in the last three months. 1.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NFLX. Wall Street Zen downgraded shares of Netflix from a "buy" rating to a "hold" rating in a research report on Saturday, October 4th. Oppenheimer lifted their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. UBS Group set a $1,425.00 price objective on shares of Netflix in a research note on Tuesday. Piper Sandler raised their price objective on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, Sanford C. Bernstein raised their price objective on shares of Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,337.63.

Netflix Trading Up 1.4%

Shares of NFLX opened at $1,231.07 on Friday. The stock has a fifty day moving average of $1,209.61 and a two-hundred day moving average of $1,165.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $523.12 billion, a PE ratio of 52.45, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $677.88 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

About Netflix

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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