Provident Wealth Management LLC Takes $225,000 Position in Netflix, Inc. $NFLX

Provident Wealth Management LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) during the second quarter, according to its most recent filing with the SEC. The firm purchased 168 shares of the Internet television network’s stock, valued at approximately $225,000.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Netflix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock worth $35,433,585,000 after purchasing an additional 509,255 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Netflix by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock worth $10,940,505,000 after purchasing an additional 304,399 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Netflix by 1.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network’s stock worth $4,844,436,000 after purchasing an additional 53,611 shares in the last quarter. Invesco Ltd. boosted its position in shares of Netflix by 8.3% in the 1st quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network’s stock worth $4,350,083,000 after purchasing an additional 356,617 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Netflix by 3.5% in the 1st quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network’s stock worth $4,089,765,000 after purchasing an additional 148,675 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

Shares of Netflix stock opened at $1,198.92 on Wednesday. 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 twelve month low of $677.88 and a twelve month high of $1,341.15. The business has a 50-day moving average price of $1,208.39 and a 200 day moving average price of $1,155.85. The firm has a market cap of $509.46 billion, a PE ratio of 51.08, a P/E/G ratio of 2.03 and a beta of 1.60.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The firm had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the previous year, the business earned $4.88 EPS. Netflix’s revenue for the quarter 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. Sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. TD Cowen lifted their price target on Netflix from $1,440.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Netflix in a research report on Wednesday, September 10th. Loop Capital raised Netflix from a “hold” rating to a “buy” rating and lifted their price target for the stock from $1,150.00 to $1,350.00 in a research report on Wednesday, September 17th. Oppenheimer lifted their price target on Netflix from $1,200.00 to $1,425.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Finally, JPMorgan Chase & Co. lifted their price target on Netflix from $1,230.00 to $1,300.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,334.03.

Insider Activity at Netflix

In other Netflix news, Director Reed Hastings sold 25,959 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $1,207.71, for a total transaction of $31,350,943.89. Following the completion of the sale, the director directly owned 394 shares in the company, valued at approximately $475,837.74. The trade was a 98.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cletus R. Willems sold 238 shares of the business’s stock in a transaction that occurred on 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 sold 59,324 shares of company stock worth $70,235,556 in the last quarter. Corporate insiders own 1.37% of the company’s stock.

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.