Patten Group Inc. Increases Position in Netflix, Inc. $NFLX

Patten Group Inc. increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 902 shares of the Internet television network’s stock after buying an additional 45 shares during the quarter. Patten Group Inc.’s holdings in Netflix were worth $1,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in NFLX. Brighton Jones LLC grew its holdings in shares of Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after buying an additional 257 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after buying an additional 144 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Netflix by 17.6% in the first quarter. GAMMA Investing LLC now owns 9,475 shares of the Internet television network’s stock valued at $8,836,000 after purchasing an additional 1,415 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in Netflix by 6.3% in the first quarter. JFS Wealth Advisors LLC now owns 544 shares of the Internet television network’s stock valued at $507,000 after purchasing an additional 32 shares during the last quarter. Finally, Continuum Advisory LLC boosted its holdings in Netflix by 9.4% in the first quarter. Continuum Advisory LLC now owns 862 shares of the Internet television network’s stock valued at $804,000 after purchasing an additional 74 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NFLX. Wells Fargo & Company upped their price target on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a report on Friday, July 18th. KeyCorp upped their price target on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Netflix in a report on Wednesday. Robert W. Baird upped their price target on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, Zacks Research lowered shares of Netflix from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have issued a Hold rating and two have assigned 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 price target of $1,339.81.

Netflix Trading Up 0.2%

Shares of Netflix stock opened at $1,241.35 on Wednesday. The firm has a 50-day simple moving average of $1,214.20 and a two-hundred day simple moving average of $1,182.49. The company has a market cap of $527.49 billion, a P/E ratio of 52.89, a price-to-earnings-growth ratio of 2.08 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $744.26 and a fifty-two week high of $1,341.15. 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 issued its quarterly earnings data on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share for the quarter, missing analysts’ consensus estimates of $6.88 by ($1.01). The firm had revenue of $11.51 billion during the quarter, compared to analyst estimates of $11.52 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company’s revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the company posted $5.40 EPS. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. As a group, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 424 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the transaction, the insider directly owned 31,610 shares of the company’s stock, valued at approximately $36,625,558.70. This trade represents a 1.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Reed Hastings sold 42,176 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at $461,736.48. This represents a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock worth $122,710,980 in the last three months. 1.37% of the stock is owned by corporate insiders.

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.