Summit Financial LLC Increases Stock Holdings in Netflix, Inc. $NFLX

Key Points

• Summit Financial LLC increased its stake in Netflix, Inc. by 5.0%, owning 19,837 shares valued at approximately $18.5 million after purchasing additional shares during the first quarter.
• Several brokerages have raised their price targets for Netflix, with Bank of America increasing its target to $1,490 and Wedbush setting a new target at $1,500, reflecting a positive outlook from analysts.
• The stock opened at $1,213.86, with Netflix reporting $7.19 EPS for the latest quarter, exceeding consensus estimates and showing a 15.9% revenue increase year-over-year.

Summit Financial LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,837 shares of the Internet television network's stock after acquiring an additional 952 shares during the period. Summit Financial LLC's holdings in Netflix were worth $18,499,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Halbert Hargrove Global Advisors LLC increased its stake in 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 purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new stake in Netflix during the 4th quarter valued at $27,000. Transce3nd LLC bought a new stake in Netflix during the 4th quarter valued at $32,000. Copia Wealth Management bought a new stake in Netflix during the 4th quarter valued at $37,000. Finally, Stuart Chaussee & Associates Inc. increased its stake in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wedbush restated 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. Morgan Stanley reiterated an "equal weight" rating on shares of Netflix in a research note on Monday, July 21st. Piper Sandler upped their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Finally, Barclays reiterated a "sell" rating and issued a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Insider Buying and Selling at Netflix

In other Netflix news, insider Cletus R. Willems sold 238 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total transaction of $274,537.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the company's stock in a transaction dated 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 approximately $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 90 days, insiders sold 146,307 shares of company stock valued at $179,443,809. Insiders own 1.37% of the company's stock.

Netflix Stock Performance

NFLX traded down $1.56 during trading on Friday, hitting $1,204.65. 3,122,827 shares of the company traded hands, compared to its average volume of 2,927,073. The firm has a market cap of $511.89 billion, a P/E ratio of 51.33, a price-to-earnings-growth ratio of 2.03 and a beta of 1.59. The stock's fifty day moving average is $1,231.41 and its 200 day moving average is $1,110.30. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a one year low of $660.80 and a one year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.88 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.