Three Bridge Wealth Advisors LLC Acquires New Position in Netflix, Inc. $NFLX

Key Points

• Three Bridge Wealth Advisors LLC acquired a new position in Netflix, Inc., purchasing 376 shares valued at approximately $504,000 in the second quarter.
• Netflix's stock has received mixed ratings from analysts, with the average target price set at $1,335.00 and a consensus rating of "Moderate Buy."
• Insider trading activity included sales by Director Reed Hastings, who sold 42,176 shares for nearly $49.4 million, leading to a significant decrease in his ownership.

Three Bridge Wealth Advisors LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 376 shares of the Internet television network's stock, valued at approximately $504,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC boosted its stake in Netflix by 100.0% in the first 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 acquired a new position in Netflix in the first quarter valued at approximately $37,000. Maseco LLP acquired a new position in Netflix in the second quarter valued at approximately $39,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Netflix in the first quarter valued at approximately $42,000. Finally, 1248 Management LLC acquired a new position in Netflix in the first quarter valued at approximately $43,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NFLX. The Goldman Sachs Group reduced their price objective on Netflix from $1,310.00 to $1,300.00 and set a "neutral" rating for the company in a research report on Tuesday, September 30th. Phillip Securities downgraded Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. Barclays reiterated a "sell" rating and set a $1,100.00 price objective (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Zacks Research downgraded Netflix from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Finally, KeyCorp boosted their price objective on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,335.00.

Insiders Place Their Bets

In other Netflix news, Director Reed Hastings sold 42,176 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the transaction, the director directly owned 394 shares of the company's stock, valued at $461,736.48. This represents a 99.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David A. Hyman sold 424 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the transaction, the insider directly owned 31,610 shares in the company, valued at $36,625,558.70. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock valued at $122,710,980 in the last three months. Company insiders own 1.37% of the company's stock.

Netflix Trading Down 0.8%

NASDAQ NFLX opened at $1,153.32 on Friday. Netflix, Inc. has a 1-year low of $677.88 and a 1-year high of $1,341.15. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $490.08 billion, a PE ratio of 49.14, a price-to-earnings-growth ratio of 1.94 and a beta of 1.59. The firm's fifty day simple moving average is $1,207.36 and its 200-day simple moving average is $1,160.35.

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, topping 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 business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the business posted $4.88 earnings per share. Netflix'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. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share 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.

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