Riverbridge Partners LLC Lowers Stake in Netflix, Inc. $NFLX

Key Points

• Riverbridge Partners LLC has reduced its stake in Netflix, Inc. by 3.5%, owning 54,920 shares, valued at approximately $73.5 million.
• Insiders, including Director Reed Hastings, have sold a significant number of shares recently; Hastings sold 25,959 shares, marking a 98.5% decrease in his ownership.
• The company reported a 15.9% increase in revenue year-over-year, with earnings per share (EPS) of $7.19, surpassing consensus estimates of $7.07.

Riverbridge Partners LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,920 shares of the Internet television network's stock after selling 2,019 shares during the period. Netflix makes up 1.2% of Riverbridge Partners LLC's investment portfolio, making the stock its 28th largest position. Riverbridge Partners LLC's holdings in Netflix were worth $73,545,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after buying an additional 509,255 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Netflix by 2.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock worth $10,940,505,000 after purchasing an additional 304,399 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Netflix by 1.0% during the first quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network's stock worth $4,844,436,000 after purchasing an additional 53,611 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Netflix by 8.3% during the first quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock worth $4,350,083,000 after purchasing an additional 356,617 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 25,959 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the transaction, the director owned 394 shares in the company, valued at approximately $475,837.74. This represents a 98.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 2,026 shares of the 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 value of $2,344,973.44. Following the transaction, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This trade represents a 13.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,728 shares of company stock worth $108,700,648 over the last quarter. Company insiders own 1.37% of the company's stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,203.95 on Thursday. Netflix, Inc. has a twelve month low of $677.88 and a twelve month high of $1,341.15. 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 company has a market capitalization of $511.59 billion, a price-to-earnings ratio of 51.30, a PEG ratio of 2.05 and a beta of 1.60. The firm has a 50-day moving average of $1,210.04 and a two-hundred day moving average of $1,145.57.

Netflix (NASDAQ:NFLX - Get Free Report) last posted 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 firm had revenue of $11.08 billion for 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 for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NFLX shares. Citigroup reissued a "neutral" rating and set a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Morgan Stanley restated an "equal weight" rating on shares of Netflix in a research note on Monday, July 21st. Barclays reiterated a "sell" rating and set a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. BMO Capital Markets reiterated an "outperform" rating and set a $1,425.00 target price (up previously from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Netflix in a research report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,328.87.

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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