Ascent Group LLC Grows Stock Holdings in Netflix, Inc. $NFLX

Key Points

• Ascent Group LLC increased its stake in Netflix by 34.8%, acquiring a total of 6,860 shares valued at approximately $6.4 million.
• Netflix's stock opened at $1,243.82, with a market cap of $528.54 billion and a year-over-year revenue growth of 15.9%.
• Insider trading activity included CEO Theodore A. Sarandos selling 2,026 shares and CFO Spencer Adam Neumann selling 2,600 shares in August and September, respectively.

Ascent Group LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 34.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,860 shares of the Internet television network's stock after purchasing an additional 1,771 shares during the period. Ascent Group LLC's holdings in Netflix were worth $6,397,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC grew its stake in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new position in Netflix during the 4th quarter worth $27,000. Copia Wealth Management purchased a new position in Netflix during the 4th quarter worth $37,000. Stuart Chaussee & Associates Inc. raised its holdings in shares of Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after buying an additional 45 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix in the first quarter valued at about $42,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,500.00 target price on shares of Netflix in a report on Friday, July 18th. Barclays reaffirmed a "sell" rating and issued a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. The Goldman Sachs Group upped their target price on shares of Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Finally, Seaport Res Ptn cut shares of Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued 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, Netflix presently has an average rating of "Moderate Buy" and an average price target of $1,317.58.

Insider Activity

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

Netflix Stock Performance

Shares of Netflix stock traded up $18.49 on Tuesday, reaching $1,263.25. 2,215,844 shares of the stock were exchanged, compared to its average volume of 2,443,071. Netflix, Inc. has a 1-year low of $660.80 and a 1-year high of $1,341.15. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average price of $1,222.86 and a two-hundred day moving average price of $1,127.68. The firm has a market capitalization of $536.79 billion, a PE ratio of 53.82, a PEG ratio of 2.10 and a beta of 1.60.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) 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 business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the previous year, the business posted $4.88 earnings per share. The business's revenue 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. As a group, research analysts anticipate 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.