Procyon Advisors LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 76.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,194 shares of the Internet television network's stock after selling 16,600 shares during the quarter. Procyon Advisors LLC's holdings in Netflix were worth $6,955,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Pallas Capital Advisors LLC raised its position in Netflix by 83.3% in the second quarter. Pallas Capital Advisors LLC now owns 6,066 shares of the Internet television network's stock valued at $8,123,000 after purchasing an additional 2,756 shares during the period. GSG Advisors LLC raised its position in Netflix by 7.6% in the second quarter. GSG Advisors LLC now owns 298 shares of the Internet television network's stock valued at $399,000 after purchasing an additional 21 shares during the period. Baron Wealth Management LLC raised its position in Netflix by 5.2% in the second quarter. Baron Wealth Management LLC now owns 1,333 shares of the Internet television network's stock valued at $1,785,000 after purchasing an additional 66 shares during the period. David J Yvars Group raised its position in Netflix by 10.5% in the second quarter. David J Yvars Group now owns 2,856 shares of the Internet television network's stock valued at $3,825,000 after purchasing an additional 272 shares during the period. Finally, Westbourne Investments Inc. raised its position in Netflix by 55.3% in the second quarter. Westbourne Investments Inc. now owns 3,740 shares of the Internet television network's stock valued at $5,008,000 after purchasing an additional 1,332 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,290,418.40. The trade was a 41.34% 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 the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the sale, the chief executive officer directly owned 12,781 shares in the company, valued at approximately $14,793,240.64. The trade was a 13.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,348 shares of company stock valued at $109,498,489. Corporate insiders own 1.37% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on NFLX shares. KeyCorp lifted their target price on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Wells Fargo & Company lifted their target price on Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Wall Street Zen raised Netflix from a "hold" rating to a "buy" rating in a research report on Saturday. Wedbush reaffirmed an "outperform" rating and set a $1,500.00 target price (up from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Finally, Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,317.58.
Check Out Our Latest Research Report on NFLX
Netflix Stock Performance
Shares of NASDAQ NFLX opened at $1,200.51 on Wednesday. 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 50 day simple moving average of $1,214.91 and a 200-day simple moving average of $1,135.62. The company has a market cap of $510.13 billion, a PE ratio of 51.15, a P/E/G ratio of 2.02 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.
Netflix (NASDAQ:NFLX - Get Free Report) last issued 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. The business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business's revenue was up 15.9% on a year-over-year basis. During the same period in the previous 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. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.
About Netflix
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Netflix, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Netflix wasn't on the list.
While Netflix currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
