RMG Wealth Management LLC Acquires New Holdings in Netflix, Inc. $NFLX

RMG Wealth Management LLC bought a new position in Netflix, Inc. (NASDAQ:NFLX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 160 shares of the Internet television network’s stock, valued at approximately $214,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Halbert Hargrove Global Advisors LLC boosted its stake in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after buying an additional 13 shares during the last quarter. Flaharty Asset Management LLC bought a new position in Netflix in the first quarter valued at about $37,000. Maseco LLP purchased a new position in Netflix in the second quarter worth about $39,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Netflix during the 1st quarter valued at about $42,000. Finally, 1248 Management LLC bought a new stake in shares of Netflix during the 1st quarter valued at about $43,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 424 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the completion of the sale, the insider directly owned 31,610 shares of the company’s stock, valued at $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 is available through the SEC website. Also, Director Reed Hastings sold 42,176 shares of Netflix 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 sale, the director owned 394 shares in the company, valued at approximately $461,736.48. The trade was a 99.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock worth $122,710,980 over the last ninety days. 1.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NFLX shares. Seaport Res Ptn downgraded shares of Netflix from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 6th. TD Cowen increased their price target on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Pivotal Research reiterated a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. Jefferies Financial Group restated a “buy” rating on shares of Netflix in a research note on Thursday, September 11th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. One equities research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,335.00.

Netflix Price Performance

NASDAQ:NFLX opened at $1,163.31 on Tuesday. The business’s 50-day simple moving average is $1,207.13 and its two-hundred day simple moving average is $1,163.23. Netflix, Inc. has a 52 week low of $677.88 and a 52 week high of $1,341.15. The stock has a market cap of $494.33 billion, a PE ratio of 49.57, a P/E/G ratio of 1.94 and a beta of 1.59. 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 (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 prior year, the company posted $4.88 earnings per share. The business’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. As a group, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Netflix 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.