Hartmann Taylor Wealth Management LLC Sells 148 Shares of Netflix, Inc. $NFLX

Hartmann Taylor Wealth Management LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 21.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 534 shares of the Internet television network’s stock after selling 148 shares during the quarter. Netflix accounts for about 0.6% of Hartmann Taylor Wealth Management LLC’s investment portfolio, making the stock its 29th biggest holding. Hartmann Taylor Wealth Management LLC’s holdings in Netflix were worth $715,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NFLX. GAMMA Investing LLC boosted its position in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Nuveen LLC bought a new stake in Netflix during the first quarter worth approximately $2,385,585,000. Kingstone Capital Partners Texas LLC boosted its position in Netflix by 343,058.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network’s stock worth $3,299,450,000 after purchasing an additional 2,463,158 shares during the period. Goldman Sachs Group Inc. boosted its position in Netflix by 57.3% during the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock worth $3,164,134,000 after purchasing an additional 1,236,251 shares during the period. Finally, Amundi boosted its position in Netflix by 37.7% during the first quarter. Amundi now owns 2,070,221 shares of the Internet television network’s stock worth $1,898,496,000 after purchasing an additional 567,251 shares during the period. Institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Wedbush reissued an “outperform” rating and issued a $1,500.00 price objective (up from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Piper Sandler increased their price objective on Netflix from $1,400.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Jefferies Financial Group restated a “buy” rating on shares of Netflix in a research note on Thursday, September 11th. Finally, Pivotal Research restated a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $1,328.87.

Netflix Stock Down 0.7%

Shares of Netflix stock opened at $1,218.47 on Wednesday. The business’s 50 day simple moving average is $1,210.96 and its 200 day simple moving average is $1,145.17. Netflix, Inc. has a 52-week low of $677.88 and a 52-week high of $1,341.15. The firm has a market cap of $517.76 billion, a PE ratio of 51.92, a P/E/G ratio of 2.07 and a beta of 1.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34.

Netflix (NASDAQ:NFLX) last announced 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. The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.Netflix’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Reed Hastings sold 25,959 shares of Netflix 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 transaction 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. The trade was a 98.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of Netflix 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 transaction, the chief executive officer owned 15,168 shares of the company’s stock, valued at $17,604,284.16. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,728 shares of company stock worth $108,700,648 over the last 90 days. Company 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.