SVB Wealth LLC Sells 1,654 Shares of Netflix, Inc. $NFLX

Key Points

• SVB Wealth LLC has reduced its shares in Netflix by 10.2%, selling 1,654 shares and currently holds a total of 14,510 shares, valued at approximately $13.5 million.
• Insider trading showed significant activity, with CEO Theodore A. Sarandos and CEO Gregory K. Peters each selling 2,026 shares of Netflix, reflecting decreases in their respective positions by 11.78% and 13.68%.
• Wall Street analysts have boosted their price targets for Netflix, with estimates ranging from $1,300 to $1,500, highlighting a consensus rating of "Moderate Buy" for the stock.

SVB Wealth LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,510 shares of the Internet television network's stock after selling 1,654 shares during the quarter. Netflix accounts for approximately 0.6% of SVB Wealth LLC's holdings, making the stock its 25th biggest position. SVB Wealth LLC's holdings in Netflix were worth $13,531,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Resurgent Financial Advisors LLC grew its stake in shares of Netflix by 234.4% during the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock valued at $942,000 after purchasing an additional 708 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Netflix by 42.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 441,861 shares of the Internet television network's stock valued at $412,059,000 after acquiring an additional 130,946 shares during the period. Janus Henderson Group PLC grew its stake in shares of Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after acquiring an additional 110,432 shares during the period. PharVision Advisers LLC bought a new position in shares of Netflix during the 4th quarter valued at approximately $873,000. Finally, New England Research & Management Inc. grew its stake in shares of Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after acquiring an additional 1,268 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Netflix

In other news, CEO Theodore A. Sarandos sold 2,026 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the sale, the chief executive officer directly owned 15,168 shares of the company's stock, valued at $17,604,284.16. This represents a 11.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction 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 sale, the chief executive officer owned 12,781 shares in the company, valued at $14,793,240.64. The trade was a 13.68% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,307 shares of company stock worth $179,443,809. Company insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Oppenheimer boosted their price objective on Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. boosted their price objective on Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Wedbush reiterated an "outperform" rating and set a $1,500.00 price objective (up from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Needham & Company LLC reiterated a "buy" rating and set a $1,500.00 price objective on shares of Netflix in a research note on Friday, July 18th. Finally, TD Cowen boosted their price objective on Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Trading Down 0.1%

NFLX stock opened at $1,204.65 on Friday. The company has a market capitalization of $511.89 billion, a price-to-earnings ratio of 51.33, a PEG ratio of 2.03 and a beta of 1.59. Netflix, Inc. has a 1-year low of $660.80 and a 1-year high of $1,341.15. The business has a 50 day simple moving average of $1,231.41 and a two-hundred day simple moving average of $1,110.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last issued 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 business had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.