Netflix, Inc. $NFLX Shares Sold by Country Club Bank

Key Points

• Country Club Bank has reduced its stake in Netflix, Inc. by 7.5%, owning 3,625 shares worth approximately $4.8 million after selling 296 shares in the second quarter.
• Analysts have mixed opinions on Netflix; while Oppenheimer raised its price target to $1,425, Phillip Securities downgraded the stock to a "strong sell" rating.
• Netflix reported earnings of $7.19 per share, exceeding analysts' expectations, with revenues of $11.08 billion for the quarter, marking a 15.9% year-over-year growth.

Country Club Bank lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,625 shares of the Internet television network's stock after selling 296 shares during the quarter. Country Club Bank's holdings in Netflix were worth $4,796,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares during the last quarter. Maseco LLP acquired a new stake in shares of Netflix during the 2nd quarter worth $39,000. Ransom Advisory Ltd purchased a new position in shares of Netflix in the 2nd quarter worth $47,000. Flaharty Asset Management LLC acquired a new position in Netflix in the first quarter valued at $37,000. Finally, Signature Resources Capital Management LLC grew its position in Netflix by 740.0% during the second quarter. Signature Resources Capital Management LLC now owns 42 shares of the Internet television network's stock valued at $56,000 after acquiring an additional 37 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Oppenheimer raised their price objective on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Piper Sandler increased their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Phillip Securities lowered shares of Netflix from a "hold" rating to a "strong sell" rating in a report on Monday, July 21st. Loop Capital raised shares of Netflix from a "hold" rating to a "buy" rating and lifted their price target for the company from $1,150.00 to $1,350.00 in a research report on Wednesday, September 17th. Finally, Wells Fargo & Company increased their price objective on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,335.00.

Netflix Stock Up 0.9%

Shares of NASDAQ:NFLX opened at $1,163.31 on Tuesday. The company has a market capitalization of $494.33 billion, a price-to-earnings ratio of 49.57, a price-to-earnings-growth ratio of 1.94 and a beta of 1.59. The company has a 50 day moving average of $1,207.13 and a two-hundred day moving average of $1,163.23. Netflix, Inc. has a 52-week low of $677.88 and a 52-week high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $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, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated 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 in the company, valued at $4,290,418.40. This trade represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 424 shares of Netflix stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total value of $491,276.08. Following the sale, the insider directly owned 31,610 shares in the company, valued at approximately $36,625,558.70. The trade was a 1.32% 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 over the last quarter. Company insiders own 1.37% of the company's stock.

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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