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

Key Points

• Sandler Capital Management reduced its stake in Netflix, Inc. by 61.0%, now owning 3,771 shares valued at $3,517,000.
• Company Director Reed Hastings sold 25,959 shares for approximately $31.35 million, marking a significant decrease in his position.
• Netflix reported earnings of $7.19 EPS, exceeding analysts' expectations, with a revenue increase of 15.9% compared to the previous year.

Sandler Capital Management lessened its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 61.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,771 shares of the Internet television network's stock after selling 5,897 shares during the period. Sandler Capital Management's holdings in Netflix were worth $3,517,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NFLX. Vanguard Group Inc. grew its stake in Netflix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after purchasing an additional 509,255 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Netflix by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock worth $10,940,505,000 after acquiring an additional 304,399 shares during the last quarter. GAMMA Investing LLC grew its holdings in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares in the last quarter. Alliancebernstein L.P. increased its position 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 purchasing an additional 53,611 shares during the last quarter. Finally, Invesco Ltd. raised its holdings 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 purchasing an additional 356,617 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Transactions at Netflix

In related news, Director Reed Hastings sold 25,959 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total transaction of $31,350,943.89. Following the transaction, the director owned 394 shares of the company's stock, valued at $475,837.74. This represents a 98.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 2,026 shares of the company's 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 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,348 shares of company stock valued at $109,498,489. 1.37% of the stock is owned by company insiders.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded up $18.49 during trading on Tuesday, reaching $1,263.25. The company had a trading volume of 2,215,844 shares, compared to its average volume of 4,021,003. 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 has a market capitalization of $536.79 billion, a price-to-earnings ratio of 53.82, a price-to-earnings-growth ratio of 2.09 and a beta of 1.60. The stock's fifty day moving average price is $1,223.47 and its 200 day moving average price is $1,126.74. Netflix, Inc. has a fifty-two week low of $660.80 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion during 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 business's revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business earned $4.88 EPS. 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 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citigroup reissued a "neutral" rating and issued a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Barclays reissued a "sell" rating and set a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a report on Tuesday, July 15th. Evercore ISI reissued an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Finally, Rosenblatt Securities upped their target price on shares of Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a report on Friday, July 18th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,317.58.

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.