Netflix, Inc. $NFLX Shares Sold by First Long Island Investors LLC

Key Points

• First Long Island Investors LLC reduced its stake in Netflix, Inc. by 8.1%, now holding 11,316 shares valued at approximately $10.55 million.
• CEO Theodore A. Sarandos and Director Reed Hastings both sold shares recently, with Sarandos decreasing his ownership by 11.78% and Hastings by 98.50%.
• Netflix's stock is currently valued at $1,203.50, with a 12-month range of $677.88 to $1,341.15, and has a market cap of $511.40 billion.

First Long Island Investors LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,316 shares of the Internet television network's stock after selling 1,000 shares during the quarter. First Long Island Investors LLC's holdings in Netflix were worth $10,553,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NFLX. GAMMA Investing LLC grew its stake in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after buying an additional 8,827,662 shares during the period. Nuveen LLC purchased a new stake in Netflix during the first quarter worth approximately $2,385,585,000. Goldman Sachs Group Inc. grew its stake in Netflix by 57.3% during the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after buying an additional 1,236,251 shares during the period. Amundi grew its stake in Netflix by 37.7% during the first quarter. Amundi now owns 2,070,221 shares of the Internet television network's stock worth $1,898,496,000 after buying an additional 567,251 shares during the period. Finally, Vanguard Group Inc. grew its stake in Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after buying an additional 509,255 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the transaction, the chief executive officer directly owned 15,168 shares in the company, valued at $17,604,284.16. This represents a 11.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Reed Hastings sold 25,959 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total transaction 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. Over the last quarter, insiders have sold 89,348 shares of company stock valued at $109,498,489. 1.37% of the stock is owned by insiders.

Netflix Trading Down 3.5%

NASDAQ NFLX opened at $1,203.50 on Friday. Netflix, Inc. has a 12 month low of $677.88 and a 12 month high of $1,341.15. 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 company has a market capitalization of $511.40 billion, a price-to-earnings ratio of 51.28, a price-to-earnings-growth ratio of 2.10 and a beta of 1.60. The company's fifty day moving average price is $1,220.29 and its two-hundred day moving average price is $1,130.00.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the firm posted $4.88 EPS. The firm's revenue was up 15.9% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the subject of several research reports. Morgan Stanley reiterated an "equal weight" rating on shares of Netflix in a research note on Monday, July 21st. Sanford C. Bernstein upped their target price on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Robert W. Baird upped their target price on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Zacks Research downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Finally, Wedbush restated an "outperform" rating and issued a $1,500.00 target price (up from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. One equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,317.58.

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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