Netflix, Inc. $NFLX Shares Sold by MetLife Investment Management LLC

Key Points

• MetLife Investment Management LLC reduced its holdings in Netflix by 1.7% during the first quarter, decreasing its stake to 129,741 shares valued at approximately $120.99 million.
• Institutional investors collectively own 80.93% of Netflix's stock, with several firms, including Resurgent Financial and BNP Paribas, significantly increasing their positions in the company.
• CEO Theodore A. Sarandos and CFO Spencer Adam Neumann recently sold shares, with Sarandos reducing his ownership by 11.78% and Neumann by 15.65%, raising concerns about insider sentiment.

MetLife Investment Management LLC cut its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,741 shares of the Internet television network's stock after selling 2,278 shares during the quarter. Netflix accounts for 0.7% of MetLife Investment Management LLC's investment portfolio, making the stock its 20th biggest holding. MetLife Investment Management LLC's holdings in Netflix were worth $120,987,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Resurgent Financial Advisors LLC raised its holdings in Netflix by 234.4% during the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after purchasing an additional 708 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Netflix by 42.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 441,861 shares of the Internet television network's stock worth $412,059,000 after purchasing an additional 130,946 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Netflix by 8.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after purchasing an additional 110,432 shares during the last quarter. PharVision Advisers LLC acquired a new position in Netflix during the fourth quarter worth $873,000. Finally, New England Research & Management Inc. raised its holdings in Netflix by 148.5% during the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock worth $1,979,000 after purchasing an additional 1,268 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Theodore A. Sarandos sold 2,026 shares of Netflix 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 transaction, the chief executive officer owned 15,168 shares in the company, valued at approximately $17,604,284.16. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 685 shares of Netflix stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,161.21, for a total value of $795,428.85. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,286,026.11. The trade was a 15.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,307 shares of company stock valued at $179,443,809. 1.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Pivotal Research reissued a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Bank of America raised their price target on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Barclays reissued a "sell" rating and set a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Finally, Wall Street Zen raised Netflix from a "hold" rating to a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,204.65 on Friday. The company has a market cap of $511.89 billion, a P/E ratio of 51.33, a P/E/G ratio of 2.03 and a beta of 1.59. 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, Inc. has a 52 week low of $660.80 and a 52 week high of $1,341.15. The business has a fifty day simple moving average of $1,231.41 and a 200-day simple moving average of $1,110.98.

Netflix (NASDAQ:NFLX - Get Free Report) last announced 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. The business 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%.The business's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.88 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Equities research 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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