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

1858 Wealth Management LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,662 shares of the Internet television network’s stock after selling 90 shares during the quarter. Netflix makes up about 1.6% of 1858 Wealth Management LLC’s portfolio, making the stock its 21st biggest position. 1858 Wealth Management LLC’s holdings in Netflix were worth $2,226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Brighton Jones LLC raised its holdings in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after buying an additional 257 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after buying an additional 144 shares during the period. GAMMA Investing LLC raised its holdings in shares of Netflix by 17.6% in the first quarter. GAMMA Investing LLC now owns 9,475 shares of the Internet television network’s stock worth $8,836,000 after buying an additional 1,415 shares during the period. Thomasville National Bank raised its holdings in shares of Netflix by 60.3% in the first quarter. Thomasville National Bank now owns 396 shares of the Internet television network’s stock worth $369,000 after buying an additional 149 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its holdings in shares of Netflix by 11.7% in the first quarter. NorthCrest Asset Manangement LLC now owns 3,557 shares of the Internet television network’s stock worth $3,317,000 after buying an additional 374 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Gregory K. Peters sold 2,026 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer directly owned 12,781 shares in the company, valued at $14,793,240.64. The trade was a 13.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 424 shares of the business’s 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 transaction, the insider owned 31,610 shares in the company, valued at approximately $36,625,558.70. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,100 shares of company stock worth $122,710,980 over the last quarter. Company insiders own 1.37% of the company’s stock.

Netflix Trading Down 0.9%

Shares of NASDAQ:NFLX opened at $1,220.08 on Friday. Netflix, Inc. has a 12-month low of $677.88 and a 12-month high of $1,341.15. The business’s fifty day simple moving average is $1,210.84 and its 200-day simple moving average is $1,168.46. The company has a market capitalization of $518.44 billion, a PE ratio of 51.98, a P/E/G ratio of 2.05 and a beta of 1.59. 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 (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating 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 period last year, the business posted $4.88 EPS. 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, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. Jefferies Financial Group restated a “buy” rating on shares of Netflix in a report on Thursday, September 11th. UBS Group set a $1,425.00 price objective on Netflix in a report on Tuesday. Phillip Securities downgraded Netflix from a “hold” rating to a “strong sell” rating in a report on Monday, July 21st. JPMorgan Chase & Co. raised their price objective on Netflix from $1,230.00 to $1,300.00 and gave the stock a “neutral” rating in a report on Friday, July 18th. Finally, Citigroup restated a “neutral” rating and set a $1,295.00 price objective (up from $1,280.00) on shares of Netflix in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,337.63.

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.