Conning Inc. Trims Stock Position in Netflix, Inc. $NFLX

Conning Inc. reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,628 shares of the Internet television network’s stock after selling 103 shares during the quarter. Conning Inc.’s holdings in Netflix were worth $3,519,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Optima Capital LLC increased its position in Netflix by 3.5% during the 2nd quarter. Optima Capital LLC now owns 239 shares of the Internet television network’s stock valued at $320,000 after purchasing an additional 8 shares during the period. Unified Investment Management increased its position in Netflix by 1.7% during the 2nd quarter. Unified Investment Management now owns 474 shares of the Internet television network’s stock valued at $635,000 after purchasing an additional 8 shares during the period. Plancorp LLC increased its position in Netflix by 0.6% during the 2nd quarter. Plancorp LLC now owns 1,278 shares of the Internet television network’s stock valued at $1,711,000 after purchasing an additional 8 shares during the period. Five Oceans Advisors increased its position in Netflix by 1.1% during the 2nd quarter. Five Oceans Advisors now owns 751 shares of the Internet television network’s stock valued at $1,006,000 after purchasing an additional 8 shares during the period. Finally, Old Port Advisors increased its position in Netflix by 1.3% during the 2nd quarter. Old Port Advisors now owns 624 shares of the Internet television network’s stock valued at $836,000 after purchasing an additional 8 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of Netflix stock opened at $1,220.08 on Friday. The stock has a market cap of $518.45 billion, a price-to-earnings ratio of 51.98, a PEG ratio of 2.07 and a beta of 1.59. The firm’s 50-day moving average is $1,210.84 and its 200 day moving average is $1,167.10. Netflix, Inc. has a 1 year low of $677.88 and a 1 year 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.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results 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. The company had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. Netflix’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on NFLX shares. Zacks Research cut shares of Netflix from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Sanford C. Bernstein boosted their target price on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Needham & Company LLC restated a “buy” rating and set a $1,500.00 target price on shares of Netflix in a report on Wednesday, September 10th. Canaccord Genuity Group restated a “buy” rating on shares of Netflix in a report on Thursday, July 10th. Finally, Morgan Stanley restated an “equal weight” rating on shares of Netflix in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average target price of $1,337.63.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,290,418.40. This represents a 41.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were 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 in the company, valued at $14,793,240.64. This represents a 13.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,100 shares of company stock worth $122,710,980. 1.37% of the stock is owned by company insiders.

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.