Sheets Smith Wealth Management Increases Stake in Netflix, Inc. $NFLX

Sheets Smith Wealth Management raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 19.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 728 shares of the Internet television network’s stock after buying an additional 119 shares during the quarter. Sheets Smith Wealth Management’s holdings in Netflix were worth $975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Halbert Hargrove Global Advisors LLC grew its stake in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Copia Wealth Management purchased a new position in shares of Netflix during the fourth quarter valued at about $37,000. Flaharty Asset Management LLC purchased a new position in shares of Netflix during the first quarter valued at about $37,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Netflix during the first quarter valued at about $42,000. Finally, 1248 Management LLC purchased a new position in shares of Netflix during the first quarter valued at about $43,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on NFLX shares. Sanford C. Bernstein raised their price target on Netflix from $1,200.00 to $1,390.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Canaccord Genuity Group reissued a “buy” rating on shares of Netflix in a report on Thursday, July 10th. The Goldman Sachs Group raised their target price on shares of Netflix from $1,000.00 to $1,140.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Wells Fargo & Company raised their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Finally, Piper Sandler lifted their price objective on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned 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 target price of $1,328.87.

Insider Activity at Netflix

In related news, insider Cletus R. Willems sold 238 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total transaction of $274,537.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Theodore A. Sarandos sold 2,026 shares of the company’s stock in a transaction on 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 sale, the chief executive officer owned 15,168 shares of the company’s stock, valued at $17,604,284.16. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,728 shares of company stock valued at $108,700,648 over the last 90 days. Insiders own 1.37% of the company’s stock.

Netflix Stock Down 0.7%

NASDAQ:NFLX opened at $1,218.47 on Wednesday. The company has a 50-day moving average of $1,210.96 and a 200 day moving average of $1,145.17. Netflix, Inc. has a 1-year low of $677.88 and a 1-year high of $1,341.15. The firm has a market cap of $517.76 billion, a PE ratio of 51.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping 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 firm had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $11.04 billion. During the same quarter in the prior year, the company earned $4.88 EPS. The company’s revenue 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. As a group, research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.