Netflix, Inc. $NFLX Shares Sold by Harbour Investments Inc.

Key Points

• Harbour Investments Inc. reduced its stake in Netflix, Inc. by 4.5%, now holding 4,801 shares valued at approximately $6.43 million.
• CEO Gregory K. Peters and CFO Spencer Adam Neumann both sold large quantities of stock, with Peters selling 2,026 shares for about $2.34 million and Neumann selling 2,601 shares for approximately $3.02 million.
• Netflix shares opened at $1,215.35, with analysts optimistic about future performance, giving an average price target of $1,337.63 for the stock.

Harbour Investments Inc. lowered its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,801 shares of the Internet television network's stock after selling 225 shares during the quarter. Harbour Investments Inc.'s holdings in Netflix were worth $6,430,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC lifted its position in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares during the last quarter. Stephens Consulting LLC lifted its position in shares of Netflix by 150.0% during the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network's stock worth $33,000 after purchasing an additional 15 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Netflix in the first quarter valued at approximately $37,000. Maseco LLP purchased a new position in shares of Netflix in the second quarter valued at approximately $39,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Netflix in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 2,026 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the transaction, the chief executive officer directly owned 12,781 shares in the company, valued at approximately $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. 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 firm's stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,100 shares of company stock valued at $122,710,980. 1.37% of the stock is owned by company insiders.

Netflix Stock Down 0.3%

Shares of NASDAQ:NFLX opened at $1,215.35 on Wednesday. The firm's 50 day moving average price is $1,213.15 and its 200 day moving average price is $1,172.10. The stock has a market cap of $516.43 billion, a price-to-earnings ratio of 51.78, a price-to-earnings-growth ratio of 2.05 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. 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 issued 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 firm 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 firm's revenue was up 15.9% compared to the same quarter last year. During the same quarter last 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, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NFLX shares. Piper Sandler raised their price objective on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Needham & Company LLC reissued a "buy" rating and issued a $1,500.00 price objective on shares of Netflix in a research note on Wednesday, September 10th. Wall Street Zen lowered shares of Netflix from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Weiss Ratings reissued a "buy (b)" rating on shares of Netflix in a research note on Wednesday, October 8th. Finally, Cowen reissued a "buy" rating on shares of Netflix in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,337.63.

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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