Zevenbergen Capital Investments LLC Sells 18,191 Shares of Netflix, Inc. $NFLX

Key Points

• Zevenbergen Capital Investments LLC reduced its stake in Netflix by 13.3%, selling 18,191 shares, leaving them with 118,732 shares valued at approximately $159 million.
• Netflix's stock has recently been downgraded by Zacks Research from a "strong-buy" to a "hold," while analysts at other firms have varied opinions, with a consensus rating of "Moderate Buy."
• Insider selling has increased, with CEO Gregory K. Peters and CFO Spencer Neumann selling shares, reflecting a decrease of 13.68% and 41.33% in their respective positions.

Zevenbergen Capital Investments LLC decreased its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 13.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,732 shares of the Internet television network's stock after selling 18,191 shares during the period. Netflix makes up 3.1% of Zevenbergen Capital Investments LLC's portfolio, making the stock its 8th largest holding. Zevenbergen Capital Investments LLC's holdings in Netflix were worth $158,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NFLX. GAMMA Investing LLC grew its stake in shares of Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Netflix in the first quarter worth $2,385,585,000. Goldman Sachs Group Inc. grew its stake in shares of Netflix by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after acquiring an additional 1,236,251 shares during the last quarter. Amundi grew its stake in shares of Netflix by 37.7% in the first quarter. Amundi now owns 2,070,221 shares of the Internet television network's stock worth $1,898,496,000 after acquiring an additional 567,251 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after acquiring an additional 509,255 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 2,026 shares of the business's stock in a transaction on 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 sale, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. The trade was a 13.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,600 shares of the business'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. This represents a 41.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,348 shares of company stock worth $109,498,489 in the last three months. Company insiders own 1.37% of the company's stock.

Netflix Stock Down 1.3%

NFLX opened at $1,188.44 on Friday. Netflix, Inc. has a fifty-two week low of $677.88 and a fifty-two week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The firm's fifty day moving average price is $1,218.15 and its two-hundred day moving average price is $1,132.43. The company has a market capitalization of $505.00 billion, a P/E ratio of 50.64, a P/E/G ratio of 2.03 and a beta of 1.60.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the previous year, the company earned $4.88 EPS. The firm'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, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Wall Street Zen upgraded shares of Netflix from a "hold" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. raised their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. TD Cowen lifted 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. Finally, Needham & Company LLC reiterated a "buy" rating and set a $1,500.00 price target on shares of Netflix in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,317.58.

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.

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