Netflix, Inc. $NFLX Shares Sold by Vident Advisory LLC

Key Points

• Vident Advisory LLC sold 2,560 shares of Netflix, reducing its holdings by 4.5% during the first quarter, with the remaining 54,071 shares valued at approximately $50.4 million.
• Insider activity showed significant sales, with CEO Theodore A. Sarandos and Gregory K. Peters each selling 2,026 shares, resulting in an 11.78% and 13.68% reduction in their positions, respectively.
• Wall Street analysts have mixed ratings on Netflix, with a consensus target price of $1,297.66 and a majority rating it a "buy", while others have issued sell ratings.

Vident Advisory LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,071 shares of the Internet television network's stock after selling 2,560 shares during the quarter. Netflix makes up about 0.7% of Vident Advisory LLC's holdings, making the stock its 25th largest holding. Vident Advisory LLC's holdings in Netflix were worth $50,424,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Halbert Hargrove Global Advisors LLC lifted its holdings in Netflix by 100.0% in 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 purchased a new position in shares of Netflix in the fourth quarter worth about $27,000. Copia Wealth Management acquired a new position in Netflix during the fourth quarter worth about $37,000. Stuart Chaussee & Associates Inc. raised its holdings in Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after acquiring an additional 45 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Netflix in the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NFLX. Wells Fargo & Company upped their price target on Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Barclays reissued a "sell" rating and set a $1,100.00 price objective (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Sanford C. Bernstein lifted their price target on Netflix from $1,200.00 to $1,390.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 685 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,286,026.11. This represents a 15.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 12,781 shares of the company's stock, valued at approximately $14,793,240.64. The trade was a 13.68% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,163 shares of company stock worth $151,917,174. 1.37% of the stock is owned by corporate insiders.

Netflix Trading Down 1.9%

Shares of Netflix stock traded down $23.20 on Friday, reaching $1,208.25. The company had a trading volume of 3,206,585 shares, compared to its average volume of 2,730,890. The firm's 50 day moving average price is $1,231.11 and its two-hundred day moving average price is $1,118.03. 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 52-week low of $660.80 and a 52-week high of $1,341.15. The firm has a market cap of $513.42 billion, a PE ratio of 51.48, a PEG ratio of 2.03 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its 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 firm had revenue of $11.08 billion during the quarter, compared to the consensus estimate 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 last 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. Sell-side analysts predict 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.