Ritholtz Wealth Management Buys 1,403 Shares of Netflix, Inc. $NFLX

Key Points

• Ritholtz Wealth Management increased its stake in Netflix by 19.1% in Q2, now holding 8,754 shares valued at approximately $11.72 million.
• Netflix analysts have mixed ratings, with two issuing a Strong Buy, twenty-six a Buy, and an average price target of $1,337.63.
• Insider trades included CFO Spencer Adam Neumann selling 2,601 shares and David A. Hyman selling 424 shares, reflecting notable insider activity during the period.

Ritholtz Wealth Management boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 19.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,754 shares of the Internet television network's stock after buying an additional 1,403 shares during the quarter. Ritholtz Wealth Management's holdings in Netflix were worth $11,722,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC boosted its stake in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares during the last quarter. Stephens Consulting LLC grew its stake in shares of Netflix by 150.0% during the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network's stock worth $33,000 after purchasing an additional 15 shares during the period. Flaharty Asset Management LLC bought a new stake in Netflix in the first quarter valued at about $37,000. Maseco LLP acquired a new position in Netflix in the second quarter valued at about $39,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in Netflix in the first quarter valued at about $42,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several analyst reports. UBS Group set a $1,425.00 target price on shares of Netflix in a report on Tuesday, October 7th. Rosenblatt Securities boosted their price objective on Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wall Street Zen downgraded shares of Netflix from a "buy" rating to a "hold" rating in a report on Saturday, October 4th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Netflix in a research note on Tuesday. Finally, Seaport Res Ptn upgraded shares of Netflix from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,337.63.

Insider Activity

In related news, insider David A. Hyman sold 424 shares of the stock in a transaction that occurred on 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 sale, the insider owned 31,610 shares of the company's stock, valued at $36,625,558.70. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,290,418.40. This trade represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,100 shares of company stock worth $122,710,980. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of NFLX opened at $1,215.35 on Wednesday. The company has a market cap of $516.43 billion, a PE ratio of 51.78, a price-to-earnings-growth ratio of 2.05 and a beta of 1.59. The firm has a 50-day moving average of $1,213.15 and a 200-day moving average of $1,172.10. Netflix, Inc. has a one year low of $677.88 and a one year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, July 17th. The Internet television network reported $7.19 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 company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the previous year, the company posted $4.88 EPS. The firm'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, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

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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