Netflix, Inc. $NFLX Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,550 shares of the Internet television network’s stock after acquiring an additional 158 shares during the period. Cornerstone Wealth Group LLC’s holdings in Netflix were worth $2,076,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Halbert Hargrove Global Advisors LLC increased its position in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Stephens Consulting LLC lifted its position in shares of Netflix by 150.0% during the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock worth $33,000 after purchasing an additional 15 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in shares of Netflix during the first quarter worth $37,000. Maseco LLP acquired a new position in shares of Netflix during the second quarter worth $39,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Netflix during the 1st quarter valued at $42,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 2,600 shares of Netflix stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,172.51, for a total value of $3,048,526.00. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at approximately $4,327,734.41. The trade was a 41.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Reed Hastings sold 42,176 shares of Netflix stock in a transaction dated 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 transaction, the director directly owned 394 shares of the company’s stock, valued at $461,736.48. This trade represents a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,100 shares of company stock valued at $122,710,980 over the last quarter. 1.37% of the stock is owned by company insiders.

Netflix Stock Down 0.1%

NASDAQ:NFLX opened at $1,219.03 on Tuesday. The company has a market capitalization of $518.00 billion, a price-to-earnings ratio of 51.94, a price-to-earnings-growth ratio of 2.05 and a beta of 1.59. Netflix, Inc. has a one year low of $677.88 and a one year high of $1,341.15. The stock has a 50-day simple moving average of $1,211.81 and a 200 day simple moving average of $1,171.80. 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 posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 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 the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm earned $4.88 earnings per share. 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 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group set a $1,425.00 price target on shares of Netflix in a research note on Tuesday, October 7th. Zacks Research downgraded shares of Netflix from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. Itau BBA Securities assumed coverage on shares of Netflix in a research note on Tuesday, October 7th. They set an “outperform” rating and a $1,514.00 price target on the stock. Robert W. Baird lifted their price target on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Finally, Morgan Stanley set a $1,500.00 price target on shares of Netflix in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $1,337.63.

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.