1858 Wealth Management LLC Trims Stock Holdings in Netflix, Inc. $NFLX

1858 Wealth Management LLC decreased its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,662 shares of the Internet television network’s stock after selling 90 shares during the quarter. Netflix makes up 1.6% of 1858 Wealth Management LLC’s portfolio, making the stock its 21st biggest holding. 1858 Wealth Management LLC’s holdings in Netflix were worth $2,226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock worth $35,433,585,000 after buying an additional 509,255 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Netflix by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock worth $10,940,505,000 after buying an additional 304,399 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Netflix by 1.0% in the first quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network’s stock worth $4,844,436,000 after acquiring an additional 53,611 shares during the period. Invesco Ltd. grew its position in shares of Netflix by 8.3% during the first quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network’s stock worth $4,350,083,000 after purchasing an additional 356,617 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Netflix by 3.5% during the first quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network’s stock worth $4,089,765,000 after purchasing an additional 148,675 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Netflix from $1,500.00 to $1,560.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Sanford C. Bernstein increased their target price on Netflix from $1,200.00 to $1,390.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Piper Sandler increased their target price on Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. BMO Capital Markets reiterated an “outperform” rating and set a $1,425.00 target price (up previously from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Finally, Loop Capital upgraded Netflix from a “hold” rating to a “buy” rating and increased their target price for the stock from $1,150.00 to $1,350.00 in a research report on Wednesday, September 17th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,337.63.

Insiders Place Their Bets

In other news, Director Reed Hastings sold 42,176 shares of the firm’s 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 sale, the director directly owned 394 shares of the company’s stock, valued at $461,736.48. This trade represents a 99.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the sale, the chief executive officer directly owned 15,168 shares of the company’s stock, valued at $17,604,284.16. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,100 shares of company stock worth $122,710,980. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,220.08 on Friday. 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, Inc. has a 1 year low of $677.88 and a 1 year high of $1,341.15. The stock’s 50 day simple moving average is $1,210.84 and its two-hundred day simple moving average is $1,168.46. The company has a market cap of $518.44 billion, a price-to-earnings ratio of 51.98, a PEG ratio of 2.05 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data 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. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the previous year, the company posted $4.88 EPS. The company’s 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. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.