Netflix, Inc. $NFLX Shares Bought by RNC Capital Management LLC

RNC Capital Management LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 14.5% during the 2nd quarter, Holdings Channel reports. The fund owned 441 shares of the Internet television network’s stock after purchasing an additional 56 shares during the period. RNC Capital Management LLC’s holdings in Netflix were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Freedom Investment Management Inc. raised its stake in Netflix by 2.6% during the 2nd quarter. Freedom Investment Management Inc. now owns 2,390 shares of the Internet television network’s stock valued at $3,199,000 after acquiring an additional 60 shares in the last quarter. Ethic Inc. raised its stake in Netflix by 28.4% during the 2nd quarter. Ethic Inc. now owns 45,349 shares of the Internet television network’s stock valued at $60,002,000 after acquiring an additional 10,019 shares in the last quarter. White Lighthouse Investment Management Inc. bought a new stake in Netflix during the 2nd quarter valued at $275,000. Caliber Wealth Management LLC KS raised its stake in Netflix by 23.4% during the 2nd quarter. Caliber Wealth Management LLC KS now owns 295 shares of the Internet television network’s stock valued at $395,000 after acquiring an additional 56 shares in the last quarter. Finally, BlueChip Wealth Advisors LLC bought a new stake in Netflix during the 2nd quarter valued at $307,000. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley set a $1,500.00 target price on Netflix in a research note on Monday, October 13th. Canaccord Genuity Group reissued a “buy” rating and issued a $1,525.00 price objective on shares of Netflix in a research note on Wednesday. The Goldman Sachs Group dropped their price objective on Netflix from $1,310.00 to $1,300.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 30th. Needham & Company LLC reissued a “buy” rating and issued a $1,500.00 price objective on shares of Netflix in a research note on Wednesday. Finally, Loop Capital raised Netflix from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $1,150.00 to $1,350.00 in a research note on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,341.22.

Insider Activity at Netflix

In other news, CEO Theodore A. Sarandos sold 2,026 shares of the company’s stock in a transaction dated 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 completion of 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 transaction was disclosed in a legal filing 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 stock was 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 a total of 104,100 shares of company stock worth $122,710,980 in the last 90 days. Insiders own 1.37% of the company’s stock.

Netflix Stock Down 10.1%

Shares of Netflix stock opened at $1,116.37 on Thursday. The stock’s fifty day moving average is $1,212.43 and its 200-day moving average is $1,182.04. The firm has a market capitalization of $474.38 billion, a PE ratio of 46.63, a price-to-earnings-growth ratio of 2.09 and a beta of 1.59. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $744.26 and a 12-month high of $1,341.15.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.88 by ($1.01). Netflix had a return on equity of 42.45% and a net margin of 24.05%.The company had revenue of $11.51 billion for the quarter, compared to analyst estimates of $11.52 billion. During the same period last year, the firm earned $5.40 earnings per share. The firm’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. Equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share 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.