Truist Financial Corp Sells 6,070 Shares of Netflix, Inc. $NFLX

Truist Financial Corp lowered its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,570 shares of the Internet television network's stock after selling 6,070 shares during the period. Truist Financial Corp's holdings in Netflix were worth $252,519,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Optima Capital LLC boosted its holdings in Netflix by 3.5% in the second quarter. Optima Capital LLC now owns 239 shares of the Internet television network's stock valued at $320,000 after acquiring an additional 8 shares in the last quarter. Unified Investment Management boosted its holdings in Netflix by 1.7% in the second quarter. Unified Investment Management now owns 474 shares of the Internet television network's stock valued at $635,000 after acquiring an additional 8 shares in the last quarter. Plancorp LLC boosted its holdings in Netflix by 0.6% in the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network's stock valued at $1,711,000 after acquiring an additional 8 shares in the last quarter. Five Oceans Advisors boosted its holdings in Netflix by 1.1% in the second quarter. Five Oceans Advisors now owns 751 shares of the Internet television network's stock valued at $1,006,000 after acquiring an additional 8 shares in the last quarter. Finally, Old Port Advisors boosted its holdings in Netflix by 1.3% in the second quarter. Old Port Advisors now owns 624 shares of the Internet television network's stock valued at $836,000 after acquiring an additional 8 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,600 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $1,207.76, for a total transaction 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 approximately $4,457,842.16. This trade represents a 41.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 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. Insiders sold 59,324 shares of company stock worth $70,235,556 in the last 90 days. Insiders own 1.37% of the company's stock.

Netflix Stock Down 0.6%

NASDAQ:NFLX opened at $1,198.92 on Wednesday. The firm has a market cap of $509.46 billion, a P/E ratio of 51.08, a P/E/G ratio of 2.03 and a beta of 1.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a fifty-two week low of $677.88 and a fifty-two week high of $1,341.15. The firm has a 50-day simple moving average of $1,208.39 and a two-hundred day simple moving average of $1,155.85.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. The business 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%. Netflix's revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NFLX shares. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Jefferies Financial Group reissued a "buy" rating on shares of Netflix in a research report on Thursday, September 11th. Rosenblatt Securities raised their price objective on Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Needham & Company LLC reissued a "buy" rating and set a $1,500.00 price objective on shares of Netflix in a research report on Wednesday, September 10th. Finally, Seaport Res Ptn lowered Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and a consensus target price of $1,334.03.

Netflix 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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