Parallel Advisors LLC Boosts Stock Position in Netflix, Inc. $NFLX

Parallel Advisors LLC lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 29,351 shares of the Internet television network's stock after acquiring an additional 776 shares during the period. Netflix makes up approximately 0.8% of Parallel Advisors LLC's investment portfolio, making the stock its 20th largest holding. Parallel Advisors LLC's holdings in Netflix were worth $39,305,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. O Connor Financial Group LLC purchased a new stake in shares of Netflix during the second quarter worth about $218,000. Trust Co. of Oklahoma grew its stake in shares of Netflix by 123.8% during the second quarter. Trust Co. of Oklahoma now owns 629 shares of the Internet television network's stock worth $842,000 after acquiring an additional 348 shares during the last quarter. Park Edge Advisors LLC grew its stake in shares of Netflix by 12.1% during the second quarter. Park Edge Advisors LLC now owns 1,998 shares of the Internet television network's stock worth $2,676,000 after acquiring an additional 216 shares during the last quarter. Capital Asset Advisory Services LLC grew its stake in shares of Netflix by 16.1% during the second quarter. Capital Asset Advisory Services LLC now owns 698 shares of the Internet television network's stock worth $903,000 after acquiring an additional 97 shares during the last quarter. Finally, Wesbanco Bank Inc. grew its stake in shares of Netflix by 10.2% during the second quarter. Wesbanco Bank Inc. now owns 12,698 shares of the Internet television network's stock worth $17,004,000 after acquiring an additional 1,174 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Trading Down 1.3%

Shares of NASDAQ:NFLX opened at $1,188.44 on Monday. Netflix, Inc. has a 12-month low of $677.88 and a 12-month high of $1,341.15. The company has a market capitalization of $505.00 billion, a PE ratio of 50.64, a PEG ratio of 2.00 and a beta of 1.60. The business has a 50 day moving average of $1,218.15 and a two-hundred day moving average of $1,133.62. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NFLX shares. Bank of America boosted their price target on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Phillip Securities lowered Netflix from a "hold" rating to a "strong sell" rating in a research note on Monday, July 21st. Sanford C. Bernstein lifted their target price on Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Wall Street Zen raised Netflix from a "hold" rating to a "buy" rating in a report on Saturday. Finally, UBS Group reaffirmed a "market underperform" rating on shares of Netflix in a report on Saturday, July 19th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,317.58.

Insider Buying and Selling

In other Netflix news, Director Reed Hastings sold 25,959 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the completion of the transaction, the director directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the transaction, the chief executive officer directly owned 15,168 shares of the company's stock, valued at $17,604,284.16. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,348 shares of company stock valued at $109,498,489. Insiders own 1.37% of the company's stock.

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.

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