Netflix, Inc. $NFLX is Baskin Financial Services Inc.’s 2nd Largest Position

Baskin Financial Services Inc. cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,120 shares of the Internet television network’s stock after selling 1,510 shares during the period. Netflix accounts for approximately 5.4% of Baskin Financial Services Inc.’s holdings, making the stock its 2nd biggest holding. Baskin Financial Services Inc.’s holdings in Netflix were worth $71,134,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of 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 in the last quarter. Flaharty Asset Management LLC acquired a new position in shares of Netflix during the 1st quarter valued at $37,000. Maseco LLP acquired a new position in shares of Netflix during the 2nd quarter valued at $39,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Netflix during the 1st quarter valued at $42,000. Finally, 1248 Management LLC acquired a new position in shares of Netflix during the 1st quarter valued at $43,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Netflix in a report on Wednesday. Jefferies Financial Group reiterated a “buy” rating on shares of Netflix in a report on Thursday, September 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. KeyCorp boosted their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Finally, Piper Sandler boosted their price objective on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,337.63.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 2,026 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cletus R. Willems sold 238 shares of the company’s 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. In the last quarter, insiders have sold 104,100 shares of company stock worth $122,710,980. Company insiders own 1.37% of the company’s stock.

Netflix Stock Performance

Shares of Netflix stock opened at $1,231.07 on Friday. The firm has a market cap of $523.12 billion, a PE ratio of 52.45, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59. The firm’s 50-day simple moving average is $1,209.61 and its 200-day simple moving average is $1,165.56. 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 1 year low of $677.88 and a 1 year high of $1,341.15.

Netflix (NASDAQ:NFLX) last issued 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 net margin of 24.58% and a return on equity of 42.50%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.