Tenzing Global Management LLC Sells 4,379 Shares of Netflix, Inc. $NFLX

Key Points

• Tenzing Global Management LLC reduced its stake in Netflix by 35.4%, leaving it with 8,000 shares valued at approximately $7.46 million, making it the firm's 8th largest holding.
• Netflix's recent quarterly earnings showed an EPS of $7.19, exceeding estimates, with a year-over-year revenue increase of 15.9%.
• Several analysts raised their price targets for Netflix, with the consensus now averaging $1,317.58, reflecting a generally positive outlook on the stock.

Tenzing Global Management LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 35.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,000 shares of the Internet television network's stock after selling 4,379 shares during the period. Netflix comprises approximately 5.4% of Tenzing Global Management LLC's investment portfolio, making the stock its 8th biggest position. Tenzing Global Management LLC's holdings in Netflix were worth $7,460,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of NFLX. Brighton Jones LLC boosted its position in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after buying an additional 257 shares during the period. Revolve Wealth Partners LLC increased its position in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares in the last quarter. Fiduciary Trust Co increased its stake in Netflix by 7.4% during the 4th quarter. Fiduciary Trust Co now owns 3,233 shares of the Internet television network's stock valued at $2,882,000 after purchasing an additional 223 shares in the last quarter. Fund 1 Investments LLC bought a new position in Netflix in the 4th quarter valued at approximately $5,794,000. Finally, Fullerton Fund Management Co Ltd. raised its position in Netflix by 7.3% in the 4th quarter. Fullerton Fund Management Co Ltd. now owns 244,101 shares of the Internet television network's stock worth $217,572,000 after buying an additional 16,557 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NFLX shares. Pivotal Research reiterated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Wolfe Research set a $1,340.00 price objective on Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. TD Cowen increased their price objective on Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Zacks Research downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Finally, Barclays reaffirmed a "sell" rating and issued a $1,100.00 price objective (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Netflix presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,317.58.

Netflix Trading Up 1.5%

Netflix stock traded up $18.49 during midday trading on Tuesday, reaching $1,263.25. 2,215,844 shares of the stock traded hands, compared to its average volume of 2,443,071. Netflix, Inc. has a 12-month low of $660.80 and a 12-month high of $1,341.15. The company has a 50-day simple moving average of $1,223.47 and a two-hundred day simple moving average of $1,126.74. The firm has a market cap of $536.79 billion, a PE ratio of 53.82, a price-to-earnings-growth ratio of 2.10 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 (NASDAQ:NFLX - Get Free Report) last posted its 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 for the quarter, compared to the consensus estimate of $11.04 billion. During the same period last year, the firm posted $4.88 EPS. The company's revenue was up 15.9% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 2,026 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the completion of the transaction, the chief executive officer directly owned 15,168 shares in the company, valued at approximately $17,604,284.16. This trade represents a 11.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reed Hastings sold 25,959 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the sale, the director owned 394 shares in the company, valued at approximately $475,837.74. This trade represents a 98.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,348 shares of company stock worth $109,498,489. Corporate insiders own 1.37% of the company's stock.

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.