Precedent Wealth Partners LLC Invests $316,000 in Netflix, Inc. $NFLX

Precedent Wealth Partners LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 236 shares of the Internet television network’s stock, valued at approximately $316,000.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Netflix in the 1st quarter worth $2,385,585,000. Kingstone Capital Partners Texas LLC lifted its stake in shares of Netflix by 343,058.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network’s stock worth $3,299,450,000 after acquiring an additional 2,463,158 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Netflix by 57.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock worth $3,164,134,000 after acquiring an additional 1,236,251 shares during the period. Amundi lifted its stake in shares of Netflix by 37.7% in the 1st quarter. Amundi now owns 2,070,221 shares of the Internet television network’s stock worth $1,898,496,000 after acquiring an additional 567,251 shares during the period. Finally, Vanguard Group Inc. lifted its stake 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 acquiring an additional 509,255 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Transactions at Netflix

In related news, insider Cletus R. Willems sold 238 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total value of $274,537.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Reed Hastings sold 42,176 shares of the business’s stock in a transaction that occurred on 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 sale, the director owned 394 shares of the company’s stock, valued at approximately $461,736.48. The trade was a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,100 shares of company stock valued at $122,710,980 in the last quarter. Insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. Seaport Res Ptn cut shares of Netflix from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 6th. TD Cowen raised their target price on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Wells Fargo & Company raised their price objective on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Robert W. Baird raised their price objective on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Finally, UBS Group reiterated a “market underperform” rating on shares of Netflix in a research note on Saturday, July 19th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,335.00.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,153.32 on Friday. The company has a market cap of $490.08 billion, a PE ratio of 49.14, a price-to-earnings-growth ratio of 1.96 and a beta of 1.59. Netflix, Inc. has a 12 month low of $677.88 and a 12 month high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The company has a 50-day simple moving average of $1,207.36 and a 200-day simple moving average of $1,158.96.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the previous year, the firm earned $4.88 earnings per share. Netflix’s 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, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.