New York Life Investment Management LLC Grows Stake in Netflix, Inc. $NFLX

New York Life Investment Management LLC raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 57,951 shares of the Internet television network’s stock after acquiring an additional 664 shares during the quarter. Netflix accounts for about 0.7% of New York Life Investment Management LLC’s portfolio, making the stock its 24th largest position. New York Life Investment Management LLC’s holdings in Netflix were worth $77,604,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Stephens Consulting LLC increased its position in shares of Netflix by 150.0% during the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock worth $33,000 after acquiring an additional 15 shares during the last quarter. Rossby Financial LCC purchased a new stake in shares of Netflix during the second quarter worth about $35,000. Maseco LLP purchased a new stake in shares of Netflix during the second quarter worth about $39,000. LGT Financial Advisors LLC purchased a new stake in shares of Netflix during the second quarter worth about $40,000. Finally, Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Netflix during the second quarter worth about $44,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Down 0.0%

NASDAQ:NFLX opened at $1,094.56 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $1,204.20 and a 200-day moving average of $1,190.20. The firm has a market capitalization of $463.80 billion, a PE ratio of 45.72, a price-to-earnings-growth ratio of 1.89 and a beta of 1.59. Netflix, Inc. has a 52 week low of $747.77 and a 52 week high of $1,341.15.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.88 by ($1.01). The company had revenue of $11.51 billion during the quarter, compared to the consensus estimate of $11.52 billion. Netflix had a return on equity of 41.86% and a net margin of 24.05%.The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period last year, the business posted $5.40 EPS. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. Analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of analyst reports. Wells Fargo & Company dropped their target price on Netflix from $1,560.00 to $1,510.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Rosenblatt Securities lifted their price target on Netflix from $1,515.00 to $1,530.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $1,500.00 price target on shares of Netflix in a research note on Wednesday, October 22nd. KeyCorp lifted their price target on Netflix from $1,070.00 to $1,390.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Itau BBA Securities started coverage on Netflix in a research note on Tuesday, October 7th. They issued an “outperform” rating and a $1,514.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $1,352.78.

Insiders Place Their Bets

In related news, CEO Theodore A. Sarandos sold 2,026 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the sale, the chief executive officer owned 15,168 shares of the company’s stock, valued at approximately $17,604,284.16. This trade represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 in the company, valued at approximately $461,736.48. This trade represents a 99.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,100 shares of company stock worth $122,710,980. 1.37% of the stock is currently owned by insiders.

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.