Netflix, Inc. $NFLX Shares Sold by National Wealth Management Group LLC

Key Points

• National Wealth Management Group LLC reduced its stake in Netflix, Inc. by 77.5%, selling 1,106 shares and now holding 322 shares valued at approximately $300,000.
• During the same time frame, GAMMA Investing LLC dramatically increased its holdings by 109,524.3%, now owning nearly 8.84 million shares valued at $8.24 billion.
• Wall Street analysts have set price targets for Netflix shares ranging from $1,340 to $1,560, with an average target price of $1,317.58, indicating positive growth expectations for the stock.

National Wealth Management Group LLC lessened its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 77.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 322 shares of the Internet television network's stock after selling 1,106 shares during the period. National Wealth Management Group LLC's holdings in Netflix were worth $300,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in NFLX. GAMMA Investing LLC increased its holdings in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares in the last quarter. Nuveen LLC purchased a new position in shares of Netflix in the 1st quarter valued at about $2,385,585,000. Goldman Sachs Group Inc. increased its holdings in shares of Netflix by 57.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock valued at $3,164,134,000 after purchasing an additional 1,236,251 shares in the last quarter. Amundi increased its holdings in shares of Netflix by 37.7% in the 1st quarter. Amundi now owns 2,070,221 shares of the Internet television network's stock valued at $1,898,496,000 after purchasing an additional 567,251 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Netflix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after purchasing an additional 509,255 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Wells Fargo & Company increased their price target on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Evercore ISI reissued an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Bank of America increased their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,317.58.

Insider Activity at Netflix

In other news, Director Reed Hastings sold 25,959 shares of the stock in a transaction dated 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 directly owned 394 shares in the company, valued at $475,837.74. This represents a 98.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the 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 transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,290,418.40. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,348 shares of company stock valued at $109,498,489. Insiders own 1.37% of the company's stock.

Netflix Price Performance

Netflix stock opened at $1,257.48 on Friday. Netflix, Inc. has a 12-month low of $660.80 and a 12-month high of $1,341.15. The stock has a market capitalization of $534.34 billion, a P/E ratio of 53.58, a P/E/G ratio of 2.06 and a beta of 1.60. The firm's 50-day moving average is $1,226.94 and its two-hundred day moving average is $1,122.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company earned $4.88 EPS. The firm's revenue for the quarter 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. Equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

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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