Tritonpoint Wealth LLC Cuts Stake in Netflix, Inc. $NFLX

Tritonpoint Wealth LLC reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,894 shares of the Internet television network’s stock after selling 11 shares during the period. Tritonpoint Wealth LLC’s holdings in Netflix were worth $2,536,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Netflix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock worth $35,433,585,000 after buying an additional 509,255 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Netflix by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock valued at $10,940,505,000 after purchasing an additional 304,399 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Netflix by 1.0% in 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 last quarter. Invesco Ltd. increased its position 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 valued at $4,350,083,000 after purchasing an additional 356,617 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Netflix by 3.5% in the 1st quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network’s stock valued at $4,089,765,000 after purchasing an additional 148,675 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 0.2%

Shares of NASDAQ:NFLX opened at $1,210.61 on Friday. The company has a market cap of $514.42 billion, a price-to-earnings ratio of 51.58, a PEG ratio of 2.04 and a beta of 1.60. The firm’s 50-day simple moving average is $1,208.75 and its 200-day simple moving average is $1,151.70. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a fifty-two week low of $677.88 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.88 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent analyst reports. Seaport Res Ptn downgraded shares of Netflix from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 6th. Sanford C. Bernstein increased their target price on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. Wells Fargo & Company increased their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Wedbush reiterated an “outperform” rating and set a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Finally, Pivotal Research reiterated a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,328.87.

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 2,600 shares of Netflix stock in a transaction dated 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 transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,457,842.16. The trade was a 41.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 2,026 shares of Netflix stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the transaction, the chief executive officer owned 12,781 shares of the company’s stock, valued at approximately $14,793,240.64. The trade was a 13.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,728 shares of company stock valued at $108,700,648 in the last quarter. Insiders own 1.37% of the company’s stock.

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.