Smith Salley Wealth Management Increases Position in Netflix, Inc. $NFLX

Key Points

• Smith Salley Wealth Management increased its holdings in Netflix by 21.2% in Q2, owning 2,211 shares valued at approximately $2.96 million at the end of the reporting period.
• Analysts are bullish on Netflix, with the stock receiving multiple buy ratings and price target increases, with an average target of $1,328.87.
• Netflix reported a strong financial performance in its last quarterly earnings, achieving $7.19 EPS and $11.08 billion in revenue, surpassing analyst expectations.

Smith Salley Wealth Management raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 21.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,211 shares of the Internet television network's stock after buying an additional 387 shares during the period. Smith Salley Wealth Management's holdings in Netflix were worth $2,961,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Optima Capital LLC raised its stake in shares of Netflix by 3.5% during the second quarter. Optima Capital LLC now owns 239 shares of the Internet television network's stock valued at $320,000 after acquiring an additional 8 shares in the last quarter. Unified Investment Management raised its stake in shares of Netflix by 1.7% during the second quarter. Unified Investment Management now owns 474 shares of the Internet television network's stock valued at $635,000 after acquiring an additional 8 shares in the last quarter. Plancorp LLC raised its stake in shares of Netflix by 0.6% during the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network's stock valued at $1,711,000 after acquiring an additional 8 shares in the last quarter. Five Oceans Advisors raised its stake in shares of Netflix by 1.1% during the second quarter. Five Oceans Advisors now owns 751 shares of the Internet television network's stock valued at $1,006,000 after acquiring an additional 8 shares in the last quarter. Finally, Old Port Advisors raised its stake in shares of Netflix by 1.3% during the second quarter. Old Port Advisors now owns 624 shares of the Internet television network's stock valued at $836,000 after acquiring an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on NFLX shares. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Wedbush reaffirmed an "outperform" rating and set a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. TD Cowen boosted their price objective on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Robert W. Baird boosted their price objective on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Finally, Sanford C. Bernstein boosted their price objective on shares of Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,328.87.

Netflix Stock Performance

Shares of NFLX stock opened at $1,210.61 on Monday. The business's fifty day simple moving average is $1,208.75 and its 200-day simple moving average is $1,153.53. The company has a market cap of $514.42 billion, a PE ratio of 51.58, a PEG ratio of 2.04 and a beta of 1.60. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. 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 results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The business 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 quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior 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. Analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Reed Hastings sold 25,959 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total transaction of $31,350,943.89. Following the sale, the director directly owned 394 shares of the company's stock, valued at $475,837.74. The trade was a 98.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the business's stock in a transaction 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 sale, the chief executive officer directly owned 12,781 shares in the company, valued at $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. Over the last ninety days, insiders sold 88,728 shares of company stock valued at $108,700,648. 1.37% of the stock is owned by corporate insiders.

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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