Netflix, Inc. $NFLX Shares Sold by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Netflix by 2.4%, holding 180,653 shares valued at $241.9 million at the end of the last quarter.
• Institutional investors own 80.93% of Netflix shares, with significant increases in holdings from firms like Vanguard and GAMMA Investing.
• Netflix's stock received multiple analyst upgrades, with an average target price of $1,328.87, reflecting a strong interest despite recent performance fluctuations.

Public Employees Retirement System of Ohio trimmed its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,653 shares of the Internet television network's stock after selling 4,381 shares during the quarter. Netflix comprises 0.8% of Public Employees Retirement System of Ohio's investment portfolio, making the stock its 17th biggest position. Public Employees Retirement System of Ohio's holdings in Netflix were worth $241,918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake 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 acquiring an additional 509,255 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Netflix by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock valued at $10,940,505,000 after acquiring an additional 304,399 shares during the period. GAMMA Investing LLC raised its stake 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 acquiring an additional 8,827,662 shares during the period. Alliancebernstein L.P. raised its stake in shares of Netflix by 1.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network's stock valued at $4,844,436,000 after acquiring an additional 53,611 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Netflix by 8.3% in the 1st quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock valued at $4,350,083,000 after acquiring an additional 356,617 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NFLX. Wall Street Zen raised shares of Netflix from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Bank of America boosted their price target 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. Seaport Res Ptn downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,500.00 target price on shares of Netflix in a research note on Wednesday, September 10th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,328.87.

Netflix Trading Down 0.7%

NASDAQ NFLX opened at $1,218.47 on Wednesday. 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 firm's fifty day moving average price is $1,210.96 and its 200 day moving average price is $1,145.17. The company has a market capitalization of $517.76 billion, a price-to-earnings ratio of 51.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.60. Netflix, Inc. has a 12 month low of $677.88 and a 12 month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results 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 firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company's revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm posted $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the completion of the sale, the chief financial officer owned 3,691 shares in the company, valued at $4,290,418.40. This represents a 41.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares of the company's stock, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,728 shares of company stock valued at $108,700,648. Corporate insiders own 1.37% of the company's stock.

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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