Patriot Financial Group Insurance Agency LLC Grows Stock Holdings in Netflix, Inc. $NFLX

Key Points

• Patriot Financial Group Insurance Agency LLC increased its stake in Netflix by 18.8% during the second quarter, holding 1,928 shares worth $2,581,000.
• Various hedge funds have also bolstered their positions in Netflix, with notable increases including 343,058.2% growth from Kingstone Capital Partners, now owning shares valued at $3.3 billion.
• Insider transactions disclosed a 11.78% ownership decrease for CEO Theodore A. Sarandos after selling 2,026 shares for over $2.35 million, contributing to a total of 104,100 shares sold by insiders this quarter.

Patriot Financial Group Insurance Agency LLC grew its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 18.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,928 shares of the Internet television network's stock after purchasing an additional 305 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in Netflix were worth $2,581,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NFLX. Nuveen LLC purchased a new position in shares of Netflix during the 1st quarter valued at $2,385,585,000. Kingstone Capital Partners Texas LLC grew its position in shares of Netflix by 343,058.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network's stock valued at $3,299,450,000 after purchasing an additional 2,463,158 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Netflix by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock valued at $3,164,134,000 after purchasing an additional 1,236,251 shares in the last quarter. Amundi grew its position in shares of Netflix by 37.7% during the 1st quarter. Amundi now owns 2,070,221 shares of the Internet television network's stock valued at $1,898,496,000 after purchasing an additional 567,251 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Netflix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after purchasing an additional 509,255 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Theodore A. Sarandos sold 2,026 shares of the 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 completion of the transaction, the chief executive officer directly owned 15,168 shares of the company's stock, valued at $17,604,284.16. This represents a 11.78% 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, insider David A. Hyman sold 424 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the completion of the transaction, the insider directly owned 31,610 shares of the company's stock, valued at approximately $36,625,558.70. The trade was a 1.32% 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. 1.37% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NFLX. Phillip Securities lowered shares of Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. UBS Group reiterated a "market underperform" rating on shares of Netflix in a research report on Saturday, July 19th. The Goldman Sachs Group cut their target price on shares of Netflix from $1,310.00 to $1,300.00 and set a "neutral" rating for the company in a research report on Tuesday. TD Cowen upped their target price on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Zacks Research lowered shares of Netflix from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,334.03.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $1,162.53 on Friday. The company has a market cap of $493.99 billion, a price-to-earnings ratio of 49.53, a price-to-earnings-growth ratio of 1.97 and a beta of 1.59. The company has a 50-day moving average price of $1,207.90 and a 200-day moving average price of $1,157.42. 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, 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 issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS 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 the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.88 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current 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.

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