Fortitude Advisory Group L.L.C. Reduces Stock Position in Netflix, Inc. $NFLX

Fortitude Advisory Group L.L.C. cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 403 shares of the Internet television network’s stock after selling 37 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Netflix were worth $540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC increased its holdings in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 13 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in Netflix during the 1st quarter worth approximately $37,000. Maseco LLP purchased a new stake in Netflix during the 2nd quarter worth approximately $39,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Netflix during the 1st quarter worth approximately $42,000. Finally, 1248 Management LLC purchased a new stake in Netflix during the 1st quarter worth approximately $43,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Down 0.8%

NASDAQ:NFLX opened at $1,153.32 on Friday. Netflix, Inc. has a 1 year low of $677.88 and a 1 year high of $1,341.15. 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 stock has a market cap of $490.08 billion, a price-to-earnings ratio of 49.14, a PEG ratio of 1.94 and a beta of 1.59. The stock has a 50-day moving average price of $1,207.36 and a two-hundred day moving average price of $1,160.35.

Netflix (NASDAQ:NFLX) last posted its 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 firm had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $11.04 billion. During the same period in the previous year, the firm earned $4.88 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NFLX shares. Morgan Stanley restated an “equal weight” rating on shares of Netflix in a report on Monday, July 21st. Pivotal Research reiterated a “buy” rating on shares of Netflix in a report on Thursday, July 10th. Loop Capital upgraded Netflix from a “hold” rating to a “buy” rating and boosted their price target for the company from $1,150.00 to $1,350.00 in a report on Wednesday, September 17th. JPMorgan Chase & Co. boosted their price target on Netflix from $1,230.00 to $1,300.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Finally, Citigroup reiterated a “neutral” rating and issued a $1,295.00 price target (up from $1,280.00) on shares of Netflix in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $1,335.00.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at approximately $4,290,418.40. The trade was a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reed Hastings sold 42,176 shares of the business’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 transaction, the director directly owned 394 shares of the company’s stock, valued at approximately $461,736.48. The trade was a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,100 shares of company stock valued at $122,710,980. Insiders own 1.37% of the company’s stock.

Netflix 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.