Netflix, Inc. $NFLX Shares Sold by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management LLC has decreased its stake in Netflix, Inc. by 7.0%, owning 3,308 shares valued at approximately $4.29 million after selling 249 shares during the second quarter.
• Director Reed Hastings significantly reduced his holdings by selling 25,959 shares for over $31.35 million, resulting in a 98.5% decrease in his ownership.
• Analysts maintain a generally positive outlook for Netflix, with a consensus target price of $1,328.87 and most firms rating the stock as a "buy".

NorthCrest Asset Manangement LLC decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,308 shares of the Internet television network's stock after selling 249 shares during the period. NorthCrest Asset Manangement LLC's holdings in Netflix were worth $4,291,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after purchasing an additional 144 shares during the last quarter. Waverly Advisors LLC boosted its holdings in Netflix by 29.6% in the fourth quarter. Waverly Advisors LLC now owns 3,545 shares of the Internet television network's stock worth $3,160,000 after acquiring an additional 810 shares in the last quarter. Continuum Advisory LLC grew its position in Netflix by 9.0% during the 4th quarter. Continuum Advisory LLC now owns 788 shares of the Internet television network's stock valued at $703,000 after purchasing an additional 65 shares during the last quarter. Finally, First Heartland Consultants Inc. increased its position in shares of Netflix by 7.3% during the fourth quarter. First Heartland Consultants Inc. now owns 811 shares of the Internet television network's stock valued at $723,000 after acquiring an additional 55 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded up $0.40 during trading on Monday, hitting $1,227.37. The stock had a trading volume of 2,543,834 shares, compared to its average volume of 2,749,690. Netflix, Inc. has a 12-month low of $677.88 and a 12-month high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $521.55 billion, a price-to-earnings ratio of 52.30, a price-to-earnings-growth ratio of 2.07 and a beta of 1.60. The stock has a 50-day simple moving average of $1,211.80 and a two-hundred day simple moving average of $1,144.65.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 2,600 shares of Netflix stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $1,207.76, for a total transaction of $3,140,176.00. Following the completion of the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,457,842.16. This trade represents a 41.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 424 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the sale, the insider directly owned 31,610 shares in the company, valued at approximately $36,625,558.70. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,348 shares of company stock worth $109,498,489. 1.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Rosenblatt Securities lifted their price objective on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Oppenheimer boosted their price target on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. TD Cowen raised their price objective on Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Loop Capital raised shares of Netflix from a "hold" rating to a "buy" rating and upped their price target for the company from $1,150.00 to $1,350.00 in a research note on Wednesday, September 17th. Finally, JPMorgan Chase & Co. lifted their target price on Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,328.87.

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.