Wright Investors Service Inc. Reduces Position in Netflix, Inc. $NFLX

Wright Investors Service Inc. lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,103 shares of the Internet television network’s stock after selling 129 shares during the quarter. Netflix makes up 1.3% of Wright Investors Service Inc.’s portfolio, making the stock its 22nd largest holding. Wright Investors Service Inc.’s holdings in Netflix were worth $4,155,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC lifted its stake 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 buying an additional 13 shares in the last quarter. Copia Wealth Management bought a new stake in Netflix in the 4th quarter valued at $37,000. Flaharty Asset Management LLC bought a new stake in shares of Netflix in the 1st quarter worth about $37,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Netflix in the 1st quarter worth about $42,000. Finally, 1248 Management LLC bought a new stake in shares of Netflix in the 1st quarter worth about $43,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on NFLX shares. Citigroup reaffirmed a “neutral” rating and set a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. JPMorgan Chase & Co. upped their price target on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Canaccord Genuity Group reiterated a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. Sanford C. Bernstein boosted their price objective on shares of Netflix from $1,200.00 to $1,390.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Finally, Bank of America upped their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a research note on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,328.87.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,226.97 on Friday. The company’s fifty day moving average price is $1,212.49 and its 200 day moving average price is $1,139.63. Netflix, Inc. has a 1 year low of $677.88 and a 1 year high of $1,341.15. The company has a market capitalization of $521.38 billion, a PE ratio of 52.28, 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 (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the firm posted $4.88 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In other news, Director Reed Hastings sold 25,959 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the completion of the sale, the director directly owned 394 shares in the company, valued at $475,837.74. This represents a 98.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the completion of the sale, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,290,418.40. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 89,348 shares of company stock valued at $109,498,489. 1.37% of the stock is currently owned by company 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.