Wealth Enhancement Advisory Services LLC Cuts Holdings in Netflix, Inc. $NFLX

Key Points

• Wealth Enhancement Advisory Services LLC reduced its holdings in Netflix, Inc. by 18.5%, selling 16,883 shares, with current holdings valued at $96.21 million.
• Despite some hedge funds decreasing stakes, other firms such as Brighton Jones LLC and Waverly Advisors LLC have increased their positions in Netflix during the fourth quarter.
• Netflix's stock recently opened at $1,228.50 with analysts raising price targets to as high as $1,425.00, reflecting a consensus "Moderate Buy" rating with an average target price of $1,328.87.

Wealth Enhancement Advisory Services LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 18.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,171 shares of the Internet television network's stock after selling 16,883 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Netflix were worth $96,214,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC raised its stake in shares of 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 buying an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new position in shares of Netflix in the fourth quarter worth about $27,000. Copia Wealth Management bought a new stake in shares of Netflix in the fourth quarter valued at approximately $37,000. Flaharty Asset Management LLC purchased a new stake in shares of Netflix during the 1st quarter valued at approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in Netflix in the 1st quarter worth approximately $42,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

Shares of NFLX stock traded up $19.19 during trading hours on Friday, hitting $1,226.97. The company's stock had a trading volume of 4,943,369 shares, compared to its average volume of 2,658,717. The company has a 50 day moving average of $1,212.49 and a 200 day moving average of $1,140.66. The stock has a market cap of $521.37 billion, a PE ratio of 52.28, a price-to-earnings-growth ratio of 2.07 and a beta of 1.60. Netflix, Inc. has a 12-month low of $677.88 and a 12-month 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.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS 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 during the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter in the previous year, the company earned $4.88 earnings per share. The company's quarterly 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. On average, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NFLX shares. Robert W. Baird boosted their price objective on Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Bank of America increased their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Morgan Stanley reissued an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Pivotal Research reiterated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Finally, KeyCorp increased their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,328.87.

Insider Transactions at Netflix

In other news, Director Reed Hastings sold 25,959 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total transaction of $31,350,943.89. Following the completion of the sale, the director owned 394 shares in the company, valued at $475,837.74. This trade represents a 98.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,600 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $1,207.76, for a total value of $3,140,176.00. Following the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,457,842.16. This trade represents a 41.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,348 shares of company stock valued at $109,498,489 in the last three months. 1.37% of the stock is currently owned by corporate insiders.

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.