Bristlecone Advisors LLC Reduces Stock Holdings in Netflix, Inc. $NFLX

Bristlecone Advisors LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 12.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,458 shares of the Internet television network’s stock after selling 779 shares during the period. Bristlecone Advisors LLC’s holdings in Netflix were worth $7,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Netflix by 1.4% in 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 purchasing an additional 509,255 shares during the period. Price T Rowe Associates Inc. MD lifted its stake 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 period. Alliancebernstein L.P. lifted its stake 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 period. Invesco Ltd. lifted its stake 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 period. Finally, Wellington Management Group LLP lifted its stake 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 period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Up 0.7%

Shares of NFLX opened at $1,102.50 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12-month low of $747.77 and a 12-month high of $1,341.15. The firm has a 50-day moving average price of $1,201.97 and a 200 day moving average price of $1,191.47. The firm has a market capitalization of $467.16 billion, a P/E ratio of 46.05, a P/E/G ratio of 1.89 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.88 by ($1.01). Netflix had a net margin of 24.05% and a return on equity of 41.86%. The firm had revenue of $11.51 billion during the quarter, compared to analysts’ expectations of $11.52 billion. During the same period in the prior year, the company posted $5.40 EPS. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Argus set a $1,410.00 price objective on shares of Netflix in a research report on Thursday, October 23rd. Wells Fargo & Company reduced their price objective on shares of Netflix from $1,560.00 to $1,510.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. Pivotal Research restated a “buy” rating on shares of Netflix in a research report on Thursday, July 10th. JPMorgan Chase & Co. reduced their price objective on shares of Netflix from $1,300.00 to $1,275.00 and set a “neutral” rating for the company in a research report on Wednesday, October 22nd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $1,525.00 target price on shares of Netflix in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,344.64.

Insider Transactions at Netflix

In other Netflix news, Director Reed Hastings sold 42,176 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the completion of the transaction, the director owned 394 shares of the company’s stock, valued at $461,736.48. This trade represents a 99.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,600 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $1,172.51, for a total transaction of $3,048,526.00. Following the transaction, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at approximately $4,327,734.41. This trade represents a 41.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 104,100 shares of company stock valued at $122,710,980 in the last three months. 1.37% of the stock is currently owned by corporate 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.