Sound Income Strategies LLC Reduces Stock Position in Netflix, Inc. $NFLX

Key Points

• Sound Income Strategies LLC has reduced its position in Netflix, Inc. by 6.0%, selling 387 shares and bringing its total holdings to 6,056 shares valued at approximately $8.1 million.
• Netflix reported earnings per share (EPS) of $7.19 for the last quarter, surpassing analysts' expectations of $7.07, and the company's revenue rose by 15.9% year-over-year to $11.08 billion.
• Multiple hedge fund firms have adjusted their holdings in Netflix, with significant increases from investors like Optima Capital LLC and Unified Investment Management, amid overall institutional ownership of 80.93% of the stock.

Sound Income Strategies LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,056 shares of the Internet television network's stock after selling 387 shares during the quarter. Sound Income Strategies LLC's holdings in Netflix were worth $8,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Optima Capital LLC increased its holdings in Netflix by 3.5% during the 2nd quarter. Optima Capital LLC now owns 239 shares of the Internet television network's stock worth $320,000 after purchasing an additional 8 shares during the last quarter. Unified Investment Management increased its holdings in Netflix by 1.7% during the 2nd quarter. Unified Investment Management now owns 474 shares of the Internet television network's stock worth $635,000 after purchasing an additional 8 shares during the last quarter. Plancorp LLC increased its holdings in shares of Netflix by 0.6% in the 2nd 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 during the last quarter. Five Oceans Advisors increased its holdings in shares of Netflix by 1.1% in the 2nd 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 during the last quarter. Finally, Old Port Advisors increased its holdings in shares of Netflix by 1.3% in the 2nd 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 during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Up 0.2%

NASDAQ:NFLX opened at $1,210.61 on Monday. Netflix, Inc. has a 12-month low of $677.88 and a 12-month high of $1,341.15. The firm has a market capitalization of $514.42 billion, a P/E ratio of 51.58, a P/E/G ratio of 2.04 and a beta of 1.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The business has a 50 day simple moving average of $1,208.75 and a 200 day simple moving average of $1,153.53.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the previous year, the firm posted $4.88 EPS. The business'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. Equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, Director Reed Hastings sold 25,959 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total transaction of $31,350,943.89. Following the completion of the transaction, the director owned 394 shares in the company, valued at approximately $475,837.74. The trade was a 98.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business'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 of the company's stock, valued at $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 quarter, insiders have sold 88,728 shares of company stock worth $108,700,648. Insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their price target on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. UBS Group reiterated a "market underperform" rating on shares of Netflix in a report on Saturday, July 19th. KeyCorp boosted their price target on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen upgraded Netflix from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Finally, JPMorgan Chase & Co. boosted their price target on Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a report on Friday, July 18th. One investment 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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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