Abacus Wealth Partners LLC Acquires Shares of 215 Netflix, Inc. $NFLX

Abacus Wealth Partners LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 215 shares of the Internet television network’s stock, valued at approximately $288,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC increased its stake in shares of Netflix by 100.0% during the first 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 period. Copia Wealth Management acquired a new position in Netflix in the fourth quarter valued at about $37,000. Flaharty Asset Management LLC acquired a new position in Netflix in the first quarter valued at approximately $37,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Netflix in the first quarter valued at approximately $42,000. Finally, 1248 Management LLC bought a new position in Netflix in the first quarter valued at $43,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NFLX. Needham & Company LLC reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Netflix in a report on Wednesday, September 10th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Netflix in a research note on Monday, July 21st. Rosenblatt Securities lifted their price target on shares of Netflix from $1,514.00 to $1,515.00 and gave the company a “buy” rating in a report on Friday, July 18th. JPMorgan Chase & Co. upped their price target on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Finally, Piper Sandler increased their target price on Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $1,328.87.

Netflix Stock Up 1.6%

Shares of NFLX stock opened at $1,226.97 on Friday. The firm has a market capitalization of $521.37 billion, a P/E ratio of 52.28, a PEG ratio of 2.07 and a beta of 1.60. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm’s fifty day moving average price is $1,212.49 and its two-hundred day moving average price is $1,140.66. Netflix, Inc. has a 1 year low of $677.88 and a 1 year high of $1,341.15.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data 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. The business had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company earned $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. On average, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, insider Cletus R. Willems sold 238 shares of the 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Reed Hastings sold 25,959 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total transaction of $31,350,943.89. Following the sale, the director directly owned 394 shares of the company’s stock, valued at approximately $475,837.74. This trade represents a 98.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,348 shares of company stock worth $109,498,489. 1.37% of the stock is owned by insiders.

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.