Summit Financial LLC Has $18.50 Million Stake in Netflix, Inc. $NFLX

Summit Financial LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,837 shares of the Internet television network’s stock after purchasing an additional 952 shares during the period. Summit Financial LLC’s holdings in Netflix were worth $18,499,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Halbert Hargrove Global Advisors LLC lifted its holdings in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new position in Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC acquired a new position in Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management acquired a new position in Netflix in the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock valued at $41,000 after buying an additional 45 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on NFLX. Bank of America increased their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a report on Friday, May 30th. Wedbush reaffirmed an “outperform” rating and issued a $1,500.00 target price (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Seaport Res Ptn downgraded shares of Netflix from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 6th. Pivotal Research reaffirmed a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. Finally, Sanford C. Bernstein upped 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 note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,297.66.

Netflix Price Performance

NFLX stock opened at $1,213.86 on Thursday. 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 12 month low of $660.80 and a 12 month high of $1,341.15. The firm has a market cap of $515.80 billion, a P/E ratio of 51.72, a P/E/G ratio of 2.04 and a beta of 1.59. The company’s 50-day moving average price is $1,231.74 and its two-hundred day moving average price is $1,107.28.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the firm earned $4.88 EPS. The business’s quarterly revenue 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. On average, analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, Director Reed Hastings sold 26,933 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the transaction, the director directly owned 394 shares of the company’s stock, valued at $477,394.04. This trade represents a 98.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the sale, the director directly owned 63,040 shares in the company, valued at $78,948,144. This trade represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,307 shares of company stock valued at $179,443,809 in the last 90 days. 1.37% of the stock is 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.