Sheets Smith Investment Management Sells 331 Shares of Netflix, Inc. $NFLX

Sheets Smith Investment Management lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 22.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,120 shares of the Internet television network’s stock after selling 331 shares during the period. Netflix accounts for about 1.0% of Sheets Smith Investment Management’s investment portfolio, making the stock its 29th largest position. Sheets Smith Investment Management’s holdings in Netflix were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kondo Wealth Advisors Inc. raised its position in shares of Netflix by 5.9% during the first quarter. Kondo Wealth Advisors Inc. now owns 304 shares of the Internet television network’s stock valued at $283,000 after buying an additional 17 shares during the last quarter. 1248 Management LLC bought a new stake in shares of Netflix during the first quarter valued at approximately $58,000. Harold Davidson & Associates Inc. raised its position in shares of Netflix by 6.4% during the first quarter. Harold Davidson & Associates Inc. now owns 466 shares of the Internet television network’s stock valued at $435,000 after buying an additional 28 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of Netflix by 231.6% during the first quarter. CBIZ Investment Advisory Services LLC now owns 63 shares of the Internet television network’s stock valued at $59,000 after buying an additional 44 shares during the last quarter. Finally, Cim Investment Management Inc. raised its position in shares of Netflix by 6.7% during the first quarter. Cim Investment Management Inc. now owns 3,338 shares of the Internet television network’s stock valued at $3,113,000 after buying an additional 209 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NFLX shares. 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 research report on Friday, July 18th. Loop Capital reiterated a “hold” rating on shares of Netflix in a research report on Tuesday, July 15th. The Goldman Sachs Group increased their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Wall Street Zen lowered shares of Netflix from a “buy” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Sanford C. Bernstein boosted their target price on Netflix from $1,200.00 to $1,390.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. One investment 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, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $1,317.58.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 424 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total value of $491,276.08. Following the sale, the insider owned 31,610 shares in the company, valued at $36,625,558.70. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Reed Hastings sold 25,959 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at approximately $475,837.74. This trade represents a 98.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,348 shares of company stock valued at $109,498,489. Insiders own 1.37% of the company’s stock.

Netflix Price Performance

Shares of NFLX stock opened at $1,203.50 on Friday. Netflix, Inc. has a 52-week low of $677.88 and a 52-week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $511.40 billion, a P/E ratio of 51.28, a P/E/G ratio of 2.10 and a beta of 1.60. The stock has a 50 day moving average price of $1,220.29 and a 200 day moving average price of $1,130.00.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share 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 analyst estimates of $11.04 billion. During the same quarter last year, the firm posted $4.88 earnings per share. The business’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, sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.