Welch & Forbes LLC Acquires 115,125 Shares of Netflix, Inc. $NFLX

Key Points

• Welch & Forbes LLC dramatically increased its Netflix stake in the first quarter, buying 115,125 shares and lifting its holdings to 118,448 shares valued at about $11.4 million.
• Institutional ownership remains high, with several other hedge funds also adding to Netflix positions during the quarter and 80.93% of the stock owned by institutional investors.
• Netflix shares were under pressure, trading down to $73.37, even as the company reported better-than-expected quarterly earnings and revenue growth; analysts still hold a Moderate Buy consensus target of $113.65.

Welch & Forbes LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3,464.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,448 shares of the Internet television network's stock after buying an additional 115,125 shares during the quarter. Welch & Forbes LLC's holdings in Netflix were worth $11,389,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NFLX. Ferguson Wellman Capital Management Inc. grew its stake in shares of Netflix by 12.5% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 8,254 shares of the Internet television network's stock worth $794,000 after acquiring an additional 914 shares during the last quarter. Cullinan Associates Inc. raised its stake in Netflix by 25.5% during the 1st quarter. Cullinan Associates Inc. now owns 17,200 shares of the Internet television network's stock valued at $1,654,000 after purchasing an additional 3,500 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in Netflix by 71.6% during the 1st quarter. Citizens Financial Group Inc. RI now owns 286,009 shares of the Internet television network's stock valued at $27,500,000 after purchasing an additional 119,343 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Netflix by 73.6% in the 1st quarter. Fifth Third Bancorp now owns 1,999,633 shares of the Internet television network's stock valued at $192,265,000 after purchasing an additional 847,808 shares during the period. Finally, Sovran Advisors LLC boosted its holdings in Netflix by 25.6% in the 1st quarter. Sovran Advisors LLC now owns 21,765 shares of the Internet television network's stock valued at $2,037,000 after purchasing an additional 4,440 shares during the period. 80.93% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Bradford L. Smith sold 35,990 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total value of $2,789,944.80. Following the sale, the director owned 79,690 shares of the company's stock, valued at $6,177,568.80. The trade was a 31.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Reed Hastings sold 407,550 shares of the company's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $93.13, for a total value of $37,955,131.50. Following the completion of the sale, the director owned 3,940 shares in the company, valued at $366,932.20. This trade represents a 99.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 899,839 shares of company stock worth $80,141,661 in the last 90 days. 1.24% of the stock is owned by corporate insiders.

Netflix Price Performance

NASDAQ NFLX traded down $2.10 on Friday, reaching $73.37. The company's stock had a trading volume of 46,556,598 shares, compared to its average volume of 45,985,956. The firm has a market cap of $308.95 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 0.93 and a beta of 1.52. The business has a 50-day moving average price of $81.78 and a 200 day moving average price of $87.63. Netflix, Inc. has a 52 week low of $70.86 and a 52 week high of $127.75. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.43.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The Internet television network reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.47. The firm had revenue of $12.25 billion during the quarter, compared to analysts' expectations of $12.17 billion. Netflix had a net margin of 28.52% and a return on equity of 40.92%. The company's revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the company earned $6.61 earnings per share. Netflix has set its Q2 2026 guidance at 0.780-0.780 EPS. Sell-side analysts expect that Netflix, Inc. will post 3.6 EPS for the current year.

More Netflix News

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Some investors see Netflix’s valuation and long-term operating momentum as attractive ahead of earnings, with articles arguing the stock may be a buy before the July 16 report as the company still has strong financial execution. Here Is the Main Reason to Buy Netflix Before July 16
• Positive Sentiment: Several analysts and market commentators remain constructive, saying the recent pullback may have gone too far and that Netflix could still surprise positively on earnings if subscriber trends and margins hold up. Netflix (NFLX) Bears Have Gone Too Far Ahead of Q2
• Neutral Sentiment: Netflix remains a heavily watched stock ahead of earnings, with option traders positioning for a larger move around the July 16 report. 3 Options Strategies for Netflix Earnings Next Week
• Negative Sentiment: Reports that Netflix is considering live TV channels and bundling third-party services suggest management is worried about slowing engagement, raising concerns that growth is becoming harder to sustain. Netflix Is Exploring Live TV and Bundles as It Struggles to Keep Viewers Hooked
• Negative Sentiment: Investors are reacting to signs that viewer retention may be weakening, and the strategic pivot toward live programming is being interpreted as a response to competitive and engagement pressures. Netflix Weighs Live TV Push
• Negative Sentiment: Commentary ahead of earnings says Netflix has been in a funk for nearly a year, with the stock still facing investor concern over slowing engagement and the need for a new growth catalyst. Should You Buy Netflix Stock Before July 16? Here's My Honest Answer

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Guggenheim restated a "buy" rating and set a $120.00 price objective on shares of Netflix in a report on Friday, May 15th. Sanford C. Bernstein set a $100.00 price target on Netflix and gave the company an "outperform" rating in a report on Wednesday. Pivotal Research set a $96.00 price objective on Netflix and gave the stock a "hold" rating in a research report on Friday, April 17th. Erste Group Bank lowered Netflix from a "buy" rating to a "hold" rating in a report on Monday, April 27th. Finally, Rosenblatt Securities lowered their price objective on Netflix from $96.00 to $95.00 and set a "neutral" rating on the stock in a research report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $113.65.

About Netflix

Netflix, Inc NASDAQ: NFLX is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company's primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.

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