OLD National Bancorp IN Acquires 8,666 Shares of Netflix, Inc. $NFLX

Key Points

• OLD National Bancorp IN increased its stake in Netflix by 269.5% during Q2, acquiring an additional 8,666 shares, bringing its total holdings to 11,882 shares valued at approximately $15.9 million.
• Insider transactions show that CEO Theodore A. Sarandos and CFO Spencer Adam Neumann sold shares, resulting in declines of 11.78% and 41.34% in their ownership respectively.
• Equities analysts have mixed views on Netflix, with target prices ranging from $1,200 to $1,450 and an average rating of “Moderate Buy”.

OLD National Bancorp IN raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 269.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,882 shares of the Internet television network's stock after acquiring an additional 8,666 shares during the quarter. OLD National Bancorp IN's holdings in Netflix were worth $15,912,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Netflix in the first quarter worth $37,000. Maseco LLP purchased a new position in shares of Netflix in the second quarter worth $39,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Netflix in the first quarter worth $42,000. Finally, 1248 Management LLC purchased a new position in shares of Netflix in the first quarter worth $43,000. 80.93% of the stock is owned by institutional investors.

Insider Transactions at Netflix

In other news, CEO Theodore A. Sarandos sold 2,026 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the transaction, the chief executive officer directly owned 15,168 shares in the company, valued at approximately $17,604,284.16. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company'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 completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,290,418.40. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,100 shares of company stock valued at $122,710,980. Company insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Oppenheimer boosted their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Phillip Securities downgraded shares of Netflix from a "hold" rating to a "strong sell" rating in a report on Monday, July 21st. TD Cowen boosted their target price on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wall Street Zen downgraded shares of Netflix from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Sanford C. Bernstein upped their price target on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Netflix currently has an average rating of "Moderate Buy" and an average target price of $1,335.00.

Netflix Trading Down 0.8%

NASDAQ NFLX opened at $1,153.32 on Friday. The company's 50-day moving average price is $1,207.36 and its 200-day moving average price is $1,160.35. 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 stock has a market cap of $490.08 billion, a PE ratio of 49.14, a PEG ratio of 1.94 and a beta of 1.59. 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 quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion for 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 for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.88 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix 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.

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