Netflix, Inc. $NFLX Shares Sold by Logan Capital Management Inc.

Key Points

• Logan Capital Management Inc. reduced its shareholding in Netflix by 10.8%, owning 51,051 shares, which comprises 2.2% of its holdings, valued at approximately $47.6 million.
• Several analysts have increased their price targets for Netflix shares, with Wells Fargo raising theirs to $1,560, while Barclays maintained a "sell" rating at a target price of $1,100.
• Insider selling has been notable, with Director Reed Hastings selling over 25,000 shares, indicating a significant decrease in his ownership stake.

Logan Capital Management Inc. reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,051 shares of the Internet television network's stock after selling 6,169 shares during the period. Netflix accounts for about 2.2% of Logan Capital Management Inc.'s holdings, making the stock its 8th biggest holding. Logan Capital Management Inc.'s holdings in Netflix were worth $47,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. MBB Public Markets I LLC acquired a new stake in Netflix during the first quarter worth about $324,000. Ascent Group LLC boosted its stake in Netflix by 34.8% during the first quarter. Ascent Group LLC now owns 6,860 shares of the Internet television network's stock worth $6,397,000 after buying an additional 1,771 shares during the period. Caxton Associates LLP purchased a new position in Netflix during the first quarter worth about $30,035,000. Signature Estate & Investment Advisors LLC boosted its stake in Netflix by 9.4% during the first quarter. Signature Estate & Investment Advisors LLC now owns 615 shares of the Internet television network's stock worth $574,000 after buying an additional 53 shares during the period. Finally, Fred Alger Management LLC boosted its stake in Netflix by 5.9% during the first quarter. Fred Alger Management LLC now owns 484,409 shares of the Internet television network's stock worth $451,726,000 after buying an additional 26,773 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NFLX shares. KeyCorp raised their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Oppenheimer increased their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Wells Fargo & Company increased their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Bank of America increased their target price on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Finally, Barclays reiterated a "sell" rating and set a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. One investment 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, the company has an average rating of "Moderate Buy" and an average price target of $1,317.58.

Insider Buying and Selling at Netflix

In other news, Director Reed Hastings sold 25,959 shares of Netflix stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the transaction, the director directly owned 394 shares of the company's stock, valued at $475,837.74. The trade was a 98.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 2,026 shares of Netflix stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 12,781 shares in the company, valued at $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,348 shares of company stock valued at $109,498,489. Insiders own 1.37% of the company's stock.

Netflix Stock Up 0.1%

NFLX stock opened at $1,244.76 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a twelve month low of $660.80 and a twelve month high of $1,341.15. The company's 50 day moving average is $1,223.47 and its two-hundred day moving average is $1,126.74. The stock has a market cap of $528.93 billion, a P/E ratio of 53.04, a PEG ratio of 2.09 and a beta of 1.60.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping 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 company had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter last year, the company earned $4.88 earnings per share. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix Company 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.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.