Blume Capital Management Inc. Boosts Stake in Netflix, Inc. $NFLX

Blume Capital Management Inc. lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 126.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 59 shares of the Internet television network’s stock after acquiring an additional 33 shares during the period. Blume Capital Management Inc.’s holdings in Netflix were worth $79,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after purchasing an additional 257 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in 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 in the last quarter. GAMMA Investing LLC boosted its stake in 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 in the last quarter. JFS Wealth Advisors LLC grew its position in Netflix by 6.3% during the first quarter. JFS Wealth Advisors LLC now owns 544 shares of the Internet television network’s stock valued at $507,000 after acquiring an additional 32 shares during the last quarter. Finally, Continuum Advisory LLC raised its stake in shares of Netflix by 9.4% during the first quarter. Continuum Advisory LLC now owns 862 shares of the Internet television network’s stock worth $804,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Reed Hastings sold 42,176 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were 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 approximately $461,736.48. This trade represents a 99.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Cletus R. Willems sold 238 shares of Netflix stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total transaction of $274,537.76. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock valued at $122,710,980 over the last quarter. 1.37% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on NFLX. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Netflix in a report on Thursday, July 10th. Phillip Securities cut Netflix from a “hold” rating to a “strong sell” rating in a research note on Monday, July 21st. Wedbush reiterated an “outperform” rating on shares of Netflix in a report on Wednesday, October 15th. Jefferies Financial Group reissued a “buy” rating on shares of Netflix in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company increased their target price on Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,339.81.

Netflix Stock Performance

Netflix stock opened at $1,241.35 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market cap of $527.49 billion, a P/E ratio of 52.89, a P/E/G ratio of 2.08 and a beta of 1.59. Netflix, Inc. has a 1-year low of $744.26 and a 1-year high of $1,341.15. The firm has a 50-day moving average of $1,214.20 and a 200-day moving average of $1,182.49.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, October 21st. The Internet television network reported $5.87 EPS for the quarter, missing analysts’ consensus estimates of $6.88 by ($1.01). Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.51 billion for the quarter, compared to the consensus estimate of $11.52 billion. During the same period in the previous year, the company earned $5.40 EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. Sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current 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.