Weatherly Asset Management L. P. Reduces Position in Netflix, Inc. $NFLX

Key Points

• Weatherly Asset Management L. P. reduced its stake in Netflix by 3.8%, owning 43,320 shares worth approximately $58 million, making it the fund's third largest position.
• Netflix's most recent quarterly earnings report showed an EPS of $7.19, surpassing analysts' expectations, with revenues reaching $11.08 billion, marking a 15.9% increase year-over-year.
• Insider trades saw Netflix Director Reed Hastings selling 25,959 shares for over $31 million, representing a significant decrease in his holdings by 98.5%.

Weatherly Asset Management L. P. trimmed its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,320 shares of the Internet television network's stock after selling 1,721 shares during the quarter. Netflix comprises about 4.9% of Weatherly Asset Management L. P.'s holdings, making the stock its 3rd biggest position. Weatherly Asset Management L. P.'s holdings in Netflix were worth $58,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Netflix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after purchasing an additional 509,255 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Netflix by 2.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock worth $10,940,505,000 after acquiring an additional 304,399 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after buying an additional 8,827,662 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Netflix by 1.0% during the 1st quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network's stock valued at $4,844,436,000 after purchasing an additional 53,611 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Netflix by 8.3% in the 1st quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock worth $4,350,083,000 after acquiring an additional 356,617 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Activity

In related news, CEO Gregory K. Peters sold 2,026 shares of the company's stock in a transaction dated 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 owned 12,781 shares in the company, valued at $14,793,240.64. This represents a 13.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 2,600 shares of the firm's stock in a transaction on 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 owned 3,691 shares in the company, valued at $4,457,842.16. The trade was a 41.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,348 shares of company stock valued at $109,498,489. 1.37% of the stock is owned by corporate insiders.

Netflix Trading Up 1.6%

Netflix stock traded up $19.19 during mid-day trading on Friday, hitting $1,226.97. The stock had a trading volume of 4,943,369 shares, compared to its average volume of 2,749,690. The stock has a 50-day simple moving average of $1,212.49 and a two-hundred day simple moving average of $1,140.66. Netflix, Inc. has a 12 month low of $677.88 and a 12 month high of $1,341.15. The stock has a market capitalization of $521.38 billion, a PE ratio of 52.28, a P/E/G ratio of 2.07 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 released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter last year, the firm posted $4.88 earnings per share. The firm'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. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on NFLX. Zacks Research downgraded Netflix from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Rosenblatt Securities lifted their price target on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a report on Friday, July 18th. TD Cowen increased their price target on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. KeyCorp lifted their price target 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. Finally, Sanford C. Bernstein increased their price objective on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,328.87.

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.