Northwestern Mutual Wealth Management Co. Decreases Stake in Netflix, Inc. $NFLX

Key Points

• Northwestern Mutual Wealth Management cut its Netflix stake by 43% in the fourth quarter, leaving it with 33,054 shares worth about $3.1 million.
• Several major institutions increased their positions in Netflix, including Vanguard, Baillie Gifford, and Jennison Associates, while hedge funds and other institutions now own 80.93% of the stock.
• Netflix insiders have also been selling shares recently, including CFO Spencer Adam Neumann and CEO Theodore A. Sarandos; over the last three months, insiders sold 1.42 million shares total.

Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 43.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,054 shares of the Internet television network's stock after selling 24,893 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Netflix were worth $3,099,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Netflix by 912.5% in the 4th quarter. Vanguard Group Inc. now owns 390,014,981 shares of the Internet television network's stock valued at $36,567,805,000 after acquiring an additional 351,493,659 shares during the last quarter. Baillie Gifford & Co. lifted its position in Netflix by 912.3% during the fourth quarter. Baillie Gifford & Co. now owns 36,940,035 shares of the Internet television network's stock valued at $3,463,498,000 after purchasing an additional 33,290,988 shares during the period. Jennison Associates LLC lifted its position in Netflix by 639.9% during the fourth quarter. Jennison Associates LLC now owns 34,871,951 shares of the Internet television network's stock valued at $3,269,594,000 after purchasing an additional 30,158,900 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Netflix by 891.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 12,099,908 shares of the Internet television network's stock valued at $1,134,487,000 after purchasing an additional 10,879,276 shares during the period. Finally, Principal Financial Group Inc. grew its position in Netflix by 850.7% during the 4th quarter. Principal Financial Group Inc. now owns 10,858,157 shares of the Internet television network's stock worth $1,018,062,000 after purchasing an additional 9,716,017 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 9,253 shares of the company's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $88.95, for a total transaction of $823,054.35. Following the completion of the sale, the chief financial officer owned 73,787 shares of the company's stock, valued at $6,563,353.65. This represents a 11.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Theodore A. Sarandos sold 27,312 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $87.97, for a total transaction of $2,402,636.64. Following the sale, the chief executive officer directly owned 284,804 shares of the company's stock, valued at $25,054,207.88. The trade was a 8.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 1,422,769 shares of company stock valued at $135,144,073. 1.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Erste Group Bank downgraded Netflix from a "buy" rating to a "hold" rating in a research report on Monday, April 27th. Citigroup assumed coverage on Netflix in a research report on Thursday, April 16th. They set a "market perform" rating on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of Netflix in a research report on Friday, April 17th. Huber Research raised Netflix from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, February 27th. Finally, Wells Fargo & Company assumed coverage on Netflix in a research report on Monday, March 9th. They set an "equal weight" rating and a $105.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $114.82.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Bank of America reiterated a Buy rating on Netflix with a $125 price target, citing optimism about the company’s expanding advertising business and ad placements, which could support future revenue growth. Bank of America Reiterates Buy Rating on Netflix (NFLX) Stock
• Positive Sentiment: Analysts and market commentary continue to frame Netflix’s ad tier as a meaningful long-term growth opportunity, with one report nudging fair value estimates higher and pointing to improved investor confidence around content discipline. How The Netflix (NFLX) Investment Story Is Shifting Around Ads Content And Deal Discipline
• Positive Sentiment: Netflix’s push into live sports is being viewed as a new revenue catalyst, with sports-related engagement helping drive sign-ups in key markets such as Japan, which could support subscriber growth. NFLX Rides on Sports Content Engagement: New Revenue Growth Catalyst?
• Neutral Sentiment: Netflix is getting elevated attention from Zacks users and analysts, but the coverage largely reiterates the existing investment debate rather than introducing a major new catalyst. Netflix, Inc. (NFLX) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Another market note says Netflix continues to attract strong analyst support, with a consensus view leaning toward Moderate Buy, reinforcing stable sentiment around the name. Netflix, Inc. NASDAQ: NFLX Receives Average Recommendation of "Moderate Buy" from Analysts
• Negative Sentiment: Netflix’s announcement that it is investing in an AI animation studio drew criticism online, with some viewers calling the project “AI slop,” which could create reputational headwinds if consumer backlash grows. Netflix is betting big on an AI animation studio — even as 51% of people say they don't want generative AI content
• Negative Sentiment: While live sports may boost engagement, the strategy also comes with heavier content spending, which could pressure near-term margins and limit upside in the short run. NFLX Rides on Sports Content Engagement: New Revenue Growth Catalyst?

Netflix Price Performance

Netflix stock opened at $88.60 on Tuesday. The company's fifty day moving average price is $93.76 and its 200 day moving average price is $93.90. Netflix, Inc. has a 1 year low of $75.01 and a 1 year high of $134.12. The stock has a market capitalization of $373.08 billion, a P/E ratio of 28.62, a P/E/G ratio of 1.13 and a beta of 1.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.41 and a current ratio of 1.41.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 16th. The Internet television network reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.47. Netflix had a net margin of 28.52% and a return on equity of 40.92%. The business had revenue of $12.25 billion during the quarter, compared to analyst estimates of $12.17 billion. During the same quarter in the prior year, the firm earned $6.61 earnings per share. The company's revenue for the quarter was up 16.2% compared to the same quarter last year. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. As a group, equities research analysts anticipate that Netflix, Inc. will post 3.6 earnings per share for the current fiscal year.

About Netflix

Netflix, Inc NASDAQ: NFLX is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company's primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

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