Perigon Wealth Management LLC Grows Stock Holdings in Netflix, Inc. $NFLX

Key Points

• Perigon Wealth Management LLC increased its stake in Netflix, Inc. by 24.5% during Q2, owning 15,266 shares now valued at approximately $20.4 million.
• Multiple hedge funds also raised their stakes in Netflix, contributing to a significant institutional ownership of 80.93% in the company.
• Netflix reported Q2 earnings of $7.19 EPS, surpassing analysts' expectations, and had a year-over-year revenue increase of 15.9%.

Perigon Wealth Management LLC grew its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 24.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,266 shares of the Internet television network's stock after acquiring an additional 3,000 shares during the period. Perigon Wealth Management LLC's holdings in Netflix were worth $20,443,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NFLX. Maridea Wealth Management LLC raised its holdings in shares of Netflix by 3.2% during the 2nd quarter. Maridea Wealth Management LLC now owns 877 shares of the Internet television network's stock valued at $1,174,000 after buying an additional 27 shares during the period. Magnus Financial Group LLC grew its stake in shares of Netflix by 27.6% during the second quarter. Magnus Financial Group LLC now owns 2,381 shares of the Internet television network's stock valued at $3,188,000 after acquiring an additional 515 shares in the last quarter. Littlejohn Financial Services Inc. increased its holdings in Netflix by 18.6% during the 2nd quarter. Littlejohn Financial Services Inc. now owns 268 shares of the Internet television network's stock worth $359,000 after purchasing an additional 42 shares during the last quarter. Plancorp LLC increased its stake in shares of Netflix by 0.6% in the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network's stock worth $1,711,000 after buying an additional 8 shares during the last quarter. Finally, Motive Wealth Advisors increased its position in shares of Netflix by 10.9% in the 2nd quarter. Motive Wealth Advisors now owns 642 shares of the Internet television network's stock worth $860,000 after purchasing an additional 63 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,208.24 on Friday. The company has a market cap of $513.42 billion, a P/E ratio of 51.48, a price-to-earnings-growth ratio of 2.03 and a beta of 1.60. 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 company's fifty day moving average is $1,208.72 and its two-hundred day moving average is $1,147.93.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The firm had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the business earned $4.88 EPS. The business'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. Equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Director Reed Hastings sold 25,959 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total transaction of $31,350,943.89. Following the transaction, the director directly owned 394 shares in the company, valued at $475,837.74. The trade was a 98.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the completion of the transaction, the chief executive officer directly owned 15,168 shares in the company, valued at $17,604,284.16. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,728 shares of company stock valued at $108,700,648. Company insiders own 1.37% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NFLX shares. Piper Sandler boosted their price target on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, July 18th. TD Cowen increased their price objective on Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company increased their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Robert W. Baird lifted their price target on Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, Pivotal Research reiterated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and an average price target of $1,328.87.

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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