Greenwood Gearhart Inc. Cuts Stock Position in Netflix, Inc. $NFLX

Greenwood Gearhart Inc. reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 4.0% in the second quarter, Holdings Channel.com reports. The firm owned 387 shares of the Internet television network’s stock after selling 16 shares during the quarter. Greenwood Gearhart Inc.’s holdings in Netflix were worth $518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Nuveen LLC purchased a new position in shares of Netflix in the 1st quarter worth about $2,385,585,000. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Netflix by 343,058.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network’s stock worth $3,299,450,000 after purchasing an additional 2,463,158 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Netflix by 57.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock worth $3,164,134,000 after purchasing an additional 1,236,251 shares in the last quarter. Amundi boosted its holdings in Netflix by 37.7% during the 1st quarter. Amundi now owns 2,070,221 shares of the Internet television network’s stock valued at $1,898,496,000 after acquiring an additional 567,251 shares during the period. Finally, Vanguard Group Inc. boosted its holdings 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 valued at $35,433,585,000 after acquiring an additional 509,255 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In other news, Director Reed Hastings sold 42,176 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the completion of the transaction, the director owned 394 shares of the company’s stock, valued at approximately $461,736.48. This represents a 99.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the transaction, the chief executive officer directly owned 12,781 shares of the company’s stock, 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 three months, insiders have sold 104,100 shares of company stock worth $122,710,980. 1.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NFLX has been the subject of several analyst reports. Wells Fargo & Company increased their target price on Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a report on Friday, July 18th. KeyCorp increased their target price on Netflix from $1,070.00 to $1,390.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. JPMorgan Chase & Co. increased their target price on Netflix from $1,230.00 to $1,300.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Citigroup restated a “neutral” rating and set a $1,295.00 target price (up from $1,280.00) on shares of Netflix in a report on Friday, October 3rd. Finally, Rosenblatt Securities increased their target price on Netflix from $1,514.00 to $1,515.00 and gave the company a “buy” rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,337.63.

Netflix Price Performance

Shares of Netflix stock opened at $1,220.08 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market cap of $518.45 billion, a PE ratio of 51.98, a P/E/G ratio of 2.07 and a beta of 1.59. The business has a 50 day moving average of $1,210.84 and a 200 day moving average of $1,167.10. Netflix, Inc. has a 52 week low of $677.88 and a 52 week high of $1,341.15.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating 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 company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the company earned $4.88 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix Company Profile

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.