Brookstone Capital Management Decreases Stock Position in Netflix, Inc. $NFLX

Brookstone Capital Management cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,308 shares of the Internet television network’s stock after selling 276 shares during the quarter. Brookstone Capital Management’s holdings in Netflix were worth $9,787,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Nuveen LLC acquired a new position in Netflix in the 1st quarter valued at about $2,385,585,000. Kingstone Capital Partners Texas LLC raised its stake in 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 valued at $3,299,450,000 after purchasing an additional 2,463,158 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in 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 valued at $3,164,134,000 after purchasing an additional 1,236,251 shares during the last quarter. Amundi raised its stake in Netflix by 37.7% in the 1st quarter. Amundi now owns 2,070,221 shares of the Internet television network’s stock valued at $1,898,496,000 after purchasing an additional 567,251 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Netflix by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock valued at $35,433,585,000 after purchasing an additional 509,255 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup reissued a “neutral” rating and issued a $1,295.00 target price (up previously from $1,280.00) on shares of Netflix in a research note on Friday, October 3rd. Loop Capital raised shares of Netflix from a “hold” rating to a “buy” rating and boosted their target price for the company from $1,150.00 to $1,350.00 in a research note on Wednesday, September 17th. Sanford C. Bernstein reissued a “buy” rating on shares of Netflix in a research note on Friday, October 17th. JPMorgan Chase & Co. dropped their price objective on shares of Netflix from $1,300.00 to $1,275.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,341.22.

Insider Activity

In related news, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the completion of the sale, the chief executive officer owned 15,168 shares of the company’s stock, valued at approximately $17,604,284.16. This represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cletus R. Willems sold 238 shares of the 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 transaction of $274,537.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,100 shares of company stock worth $122,710,980. Insiders own 1.37% of the company’s stock.

Netflix Trading Down 10.1%

NASDAQ NFLX opened at $1,116.37 on Thursday. The company has a 50-day moving average of $1,212.43 and a 200-day moving average of $1,182.04. The company has a market cap of $474.38 billion, a P/E ratio of 46.63, a P/E/G ratio of 2.09 and a beta of 1.59. Netflix, Inc. has a 12 month low of $744.26 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.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.88 by ($1.01). The business had revenue of $11.51 billion for the quarter, compared to analyst estimates of $11.52 billion. Netflix had a return on equity of 42.45% and a net margin of 24.05%.The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the company posted $5.40 EPS. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. As a group, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current 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.