Profit Investment Management LLC Decreases Holdings in Netflix, Inc. $NFLX

Key Points

• Profit Investment Management LLC has reduced its holdings in Netflix, Inc. by 23.0%, now owning 1,620 shares valued at approximately $2.17 million.
• Analyst ratings reveal that Netflix has a consensus average rating of "Moderate Buy" with an average target price of $1,328.87, despite a downgrade from Zacks Research.
• Insiders sold a total of 89,348 shares valued at over $109 million in the last quarter, indicating possible shifts in confidence among company executives.

Profit Investment Management LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 23.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,620 shares of the Internet television network's stock after selling 485 shares during the quarter. Netflix accounts for approximately 2.0% of Profit Investment Management LLC's holdings, making the stock its 19th biggest holding. Profit Investment Management LLC's holdings in Netflix were worth $2,169,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC raised its position in shares of 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 in the last quarter. Copia Wealth Management purchased a new stake in shares of Netflix during the 4th quarter valued at about $37,000. Flaharty Asset Management LLC purchased a new stake in shares of Netflix during the 1st quarter valued at about $37,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix during the 1st quarter valued at about $42,000. Finally, 1248 Management LLC bought a new position in Netflix during the 1st quarter valued at about $43,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on NFLX shares. Zacks Research downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Bank of America upped their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. Barclays reiterated a "sell" rating and set a $1,100.00 price target (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Finally, Rosenblatt Securities upped their price target on shares of Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,328.87.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 424 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the sale, the insider directly owned 31,610 shares in the company, valued at $36,625,558.70. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the sale, the chief executive officer owned 12,781 shares of the company's stock, valued at approximately $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,348 shares of company stock valued at $109,498,489 over the last quarter. Insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of NFLX stock opened at $1,226.97 on Friday. The firm has a market cap of $521.37 billion, a price-to-earnings ratio of 52.28, a PEG ratio of 2.07 and a beta of 1.60. The company's 50 day moving average is $1,212.49 and its 200 day moving average is $1,140.66. 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, Inc. has a 52-week low of $677.88 and a 52-week 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, beating the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. Netflix's revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company 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, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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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