Worth Asset Management LLC Sells 223 Shares of Netflix, Inc. $NFLX

Key Points

• Worth Asset Management LLC reduced its stake in Netflix by 12.8%, owning 1,521 shares after selling 223 shares, which represents about 1.0% of its investment portfolio.
• Several large investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., increased their holdings in Netflix, with institutional ownership now at 80.93%.
• Netflix's recent earnings report showed an EPS of $7.19, exceeding estimates, as revenue grew by 15.9% compared to the previous year.

Worth Asset Management LLC cut its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 12.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,521 shares of the Internet television network's stock after selling 223 shares during the quarter. Netflix comprises about 1.0% of Worth Asset Management LLC's holdings, making the stock its 22nd largest position. Worth Asset Management LLC's holdings in Netflix were worth $2,037,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fullcircle Wealth LLC raised its stake in shares of Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after purchasing an additional 9 shares during the period. Capital Analysts LLC raised its stake in shares of Netflix by 0.3% during the 1st quarter. Capital Analysts LLC now owns 2,620 shares of the Internet television network's stock valued at $2,443,000 after purchasing an additional 9 shares during the period. Enterprise Financial Services Corp raised its stake in shares of Netflix by 1.8% during the 1st quarter. Enterprise Financial Services Corp now owns 505 shares of the Internet television network's stock valued at $471,000 after purchasing an additional 9 shares during the period. Sunpointe LLC raised its stake in shares of Netflix by 1.4% during the 2nd quarter. Sunpointe LLC now owns 644 shares of the Internet television network's stock valued at $862,000 after purchasing an additional 9 shares during the period. Finally, Continuum Wealth Advisors LLC raised its stake in shares of Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after purchasing an additional 10 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Insider Transactions at Netflix

In other news, CEO Theodore A. Sarandos sold 2,026 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the transaction, the chief executive officer directly owned 15,168 shares in the company, valued at approximately $17,604,284.16. This represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 2,026 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the sale, the chief executive officer directly owned 12,781 shares of the company's stock, valued at approximately $14,793,240.64. This trade represents a 13.68% 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 over the last quarter. 1.37% of the stock is owned by company insiders.

Netflix Price Performance

Shares of NFLX traded up $0.40 during midday trading on Monday, reaching $1,227.37. The stock had a trading volume of 2,543,834 shares, compared to its average volume of 2,749,690. The company's 50-day moving average is $1,211.80 and its 200 day moving average is $1,144.65. 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. The company has a market capitalization of $521.55 billion, a price-to-earnings ratio of 52.30, a price-to-earnings-growth ratio of 2.07 and a beta of 1.60.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The firm had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same period in the prior year, the business earned $4.88 EPS. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NFLX. TD Cowen boosted their price objective on Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Wedbush restated an "outperform" rating and set a $1,500.00 target price (up from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Wells Fargo & Company boosted their target price on Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. boosted their target price on Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Finally, Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and an average 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.