Private Wealth Asset Management LLC Trims Holdings in Netflix, Inc. $NFLX

Private Wealth Asset Management LLC decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 462 shares of the Internet television network’s stock after selling 11 shares during the period. Private Wealth Asset Management LLC’s holdings in Netflix were worth $619,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC boosted its position in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Stephens Consulting LLC increased its holdings in shares of Netflix by 150.0% in the 2nd quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock worth $33,000 after purchasing an additional 15 shares in the last quarter. Flaharty Asset Management LLC bought a new stake in shares of Netflix in the 1st quarter worth $37,000. Maseco LLP bought a new stake in shares of Netflix in the 2nd quarter worth $39,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in Netflix in the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Down 0.3%

Shares of NASDAQ:NFLX opened at $1,215.35 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12 month low of $677.88 and a 12 month high of $1,341.15. The company has a 50-day moving average price of $1,213.15 and a 200 day moving average price of $1,172.10. The company has a market cap of $516.43 billion, a price-to-earnings ratio of 51.78, a PEG ratio of 2.05 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last announced its quarterly 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 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 the consensus estimate of $11.04 billion. During the same quarter last year, the firm earned $4.88 EPS. The firm’s revenue for the quarter 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, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on NFLX. Morgan Stanley set a $1,500.00 price objective on Netflix in a research note on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Netflix in a research note on Wednesday, October 8th. Itau BBA Securities initiated coverage on Netflix in a research note on Tuesday, October 7th. They issued an “outperform” rating and a $1,514.00 price objective for the company. Barclays reiterated a “sell” rating and issued a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Finally, Canaccord Genuity Group reiterated a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,337.63.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 2,600 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,172.51, for a total value of $3,048,526.00. Following the completion of the sale, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,327,734.41. This trade represents a 41.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the firm’s 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 completion of the sale, the chief executive officer directly 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 104,100 shares of company stock valued at $122,710,980 over the last quarter. Corporate insiders own 1.37% of the company’s stock.

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.