State of Alaska Department of Revenue Sells 2,233 Shares of Netflix, Inc. $NFLX

Key Points

• The State of Alaska Department of Revenue sold 2,233 shares of Netflix, reducing its holdings by 4.2% during the second quarter, now owning approximately 50,989 shares worth $68.28 million.
• Multiple analysts have raised their price targets for Netflix, with Goldman Sachs setting a target of $1,140.00 and Barclays maintaining a sell rating with a target of $1,100.00.
• Netflix reported earnings of $7.19 EPS beating estimates, with revenue of $11.08 billion, reflecting a 15.9% increase year-over-year.

State of Alaska Department of Revenue decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,989 shares of the Internet television network's stock after selling 2,233 shares during the period. Netflix comprises approximately 0.7% of State of Alaska Department of Revenue's holdings, making the stock its 14th largest position. State of Alaska Department of Revenue's holdings in Netflix were worth $68,280,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC grew its stake 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 acquiring an additional 13 shares during the period. Flaharty Asset Management LLC bought a new position in shares of Netflix in the first quarter worth approximately $37,000. Maseco LLP bought a new position in shares of Netflix in the second quarter worth approximately $39,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Netflix in the first quarter worth approximately $42,000. Finally, 1248 Management LLC bought a new position in shares of Netflix in the first quarter worth approximately $43,000. Institutional investors own 80.93% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NFLX shares. Rosenblatt Securities increased their price target on Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Bank of America upped their price objective on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Barclays restated a "sell" rating and issued a $1,100.00 price target (up from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Wedbush restated an "outperform" rating and issued a $1,500.00 price target (up from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Finally, The Goldman Sachs Group upped their price target on Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,328.87.

Netflix Price Performance

NFLX stock opened at $1,210.61 on Friday. Netflix, Inc. has a 52 week low of $677.88 and a 52 week high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $1,208.75 and a two-hundred day simple moving average of $1,150.10. The firm has a market capitalization of $514.42 billion, a P/E ratio of 51.58, a price-to-earnings-growth ratio of 2.03 and a beta of 1.60.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter last year, the firm earned $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. Analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Spencer Adam Neumann sold 2,600 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $1,207.76, for a total value of $3,140,176.00. Following the completion of the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,457,842.16. This trade represents a 41.33% 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 Theodore A. Sarandos sold 2,026 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the sale, the chief executive officer owned 15,168 shares of the company's stock, valued at approximately $17,604,284.16. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,728 shares of company stock worth $108,700,648. 1.37% of the stock is currently owned by company insiders.

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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