Point72 Italy S.r.l. Sells 2,631 Shares of Netflix, Inc. $NFLX

Key Points

• Point72 Italy S.r.l. has significantly reduced its stake in Netflix, selling 2,631 shares in the first quarter of 2023, which accounts for a 49.6% decrease, leaving the fund with 2,669 shares valued at approximately $2.5 million.
• Analysts have varying ratings for Netflix's stock, with targets ranging up to $1,390 and a consensus rating of "Moderate Buy" based on recent research firm reports.
• Insider trading activity includes significant sales by Director Jay C. Hoag and CEO Gregory K. Peters, decreasing their respective holdings by 33.5% and 13.68% in recent transactions.

Point72 Italy S.r.l. trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 49.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,669 shares of the Internet television network's stock after selling 2,631 shares during the quarter. Netflix accounts for about 2.5% of Point72 Italy S.r.l.'s holdings, making the stock its 16th biggest holding. Point72 Italy S.r.l.'s holdings in Netflix were worth $2,489,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Halbert Hargrove Global Advisors LLC raised its holdings in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new stake in Netflix during the 4th quarter valued at $27,000. Copia Wealth Management bought a new stake in Netflix during the 4th quarter valued at $37,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Netflix during the 1st quarter valued at $42,000. Finally, Stuart Chaussee & Associates Inc. raised its holdings in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after buying an additional 45 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on NFLX. 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 report on Thursday, July 17th. Phillip Securities lowered shares of Netflix from a "hold" rating to a "strong sell" rating in a report on Monday, July 21st. Jefferies Financial Group reissued a "buy" rating on shares of Netflix in a research report on Tuesday, August 12th. Barclays reissued a "sell" rating and set a $1,100.00 price objective (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Finally, Seaport Res Ptn downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Stock Performance

NASDAQ NFLX opened at $1,208.25 on Friday. Netflix, Inc. has a fifty-two week low of $660.80 and a fifty-two week high of $1,341.15. The stock has a market cap of $513.42 billion, a price-to-earnings ratio of 51.48, a price-to-earnings-growth ratio of 2.03 and a beta of 1.59. The business has a fifty day moving average of $1,231.11 and a 200-day moving average of $1,118.03. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping 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 analysts' expectations of $11.04 billion. During the same period in the previous year, the firm posted $4.88 earnings per share. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the sale, the director owned 63,040 shares of the company's stock, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of Netflix stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the sale, the chief executive officer directly owned 12,781 shares of the company's stock, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,163 shares of company stock valued at $151,917,174. Company insiders own 1.37% of the company's stock.

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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