Institute for Wealth Management LLC. Trims Stock Position in Netflix, Inc. $NFLX

Institute for Wealth Management LLC. cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,182 shares of the Internet television network’s stock after selling 102 shares during the period. Institute for Wealth Management LLC.’s holdings in Netflix were worth $5,600,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC raised its stake 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 valued at $25,000 after acquiring an additional 13 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in Netflix during the 1st quarter valued at approximately $37,000. Maseco LLP purchased a new position in shares of Netflix during the 2nd quarter worth approximately $39,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Netflix during the 1st quarter worth approximately $42,000. Finally, 1248 Management LLC purchased a new position in shares of Netflix during the 1st quarter worth approximately $43,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Netflix news, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the sale, the chief executive officer owned 15,168 shares in the company, valued at approximately $17,604,284.16. This represents a 11.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cletus R. Willems sold 238 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total value of $274,537.76. The disclosure for this sale can be found here. Insiders have sold 59,324 shares of company stock worth $70,235,556 in the last quarter. 1.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NFLX. BMO Capital Markets reissued an “outperform” rating and set a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Barclays reissued a “sell” rating and set a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Wedbush reissued an “outperform” rating and set a $1,500.00 target price (up from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. TD Cowen increased their target price on Netflix from $1,440.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $1,500.00 target price on shares of Netflix in a research note on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,334.03.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,198.92 on Wednesday. The business’s fifty day moving average price is $1,208.39 and its two-hundred day moving average price is $1,155.85. The stock has a market cap of $509.46 billion, a PE ratio of 51.08, a price-to-earnings-growth ratio of 2.03 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, Inc. has a one year low of $677.88 and a one year high of $1,341.15.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.Netflix’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior 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 forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

About Netflix

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.