CNB Bank Cuts Stock Position in Netflix, Inc. $NFLX

CNB Bank lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,456 shares of the Internet television network’s stock after selling 73 shares during the quarter. Netflix comprises about 0.9% of CNB Bank’s portfolio, making the stock its 25th largest holding. CNB Bank’s holdings in Netflix were worth $1,950,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Stephens Consulting LLC grew its holdings in Netflix by 150.0% in the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock valued at $33,000 after purchasing an additional 15 shares during the last quarter. Flaharty Asset Management LLC acquired a new stake in Netflix in the first quarter valued at $37,000. Maseco LLP acquired a new stake in Netflix in the second quarter valued at $39,000. LGT Financial Advisors LLC acquired a new stake in Netflix in the second quarter valued at $40,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Netflix in the first quarter valued at $42,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on NFLX shares. TD Cowen lowered their target price on Netflix from $1,450.00 to $1,425.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Phillip Securities downgraded Netflix from a “hold” rating to a “strong sell” rating in a research report on Monday, July 21st. Rosenblatt Securities upped their price objective on Netflix from $1,515.00 to $1,530.00 and gave the company a “buy” rating in a research report on Wednesday. Cowen restated a “buy” rating on shares of Netflix in a research report on Tuesday, October 7th. Finally, Robert W. Baird upped their price objective on Netflix from $1,300.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,352.78.

Insider Activity

In other news, Director Reed Hastings sold 42,176 shares of Netflix stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the completion of the transaction, the director owned 394 shares in the company, valued at approximately $461,736.48. This trade represents a 99.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the transaction, the chief executive officer owned 15,168 shares of the company’s stock, valued at approximately $17,604,284.16. The trade was a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,100 shares of company stock worth $122,710,980 over the last quarter. Corporate insiders own 1.37% of the company’s stock.

Netflix Stock Performance

Netflix stock opened at $1,094.69 on Friday. The stock’s 50-day moving average is $1,207.21 and its 200-day moving average is $1,185.28. The company has a market cap of $463.85 billion, a price-to-earnings ratio of 45.73, a price-to-earnings-growth ratio of 1.92 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.34. Netflix, Inc. has a 12 month low of $747.77 and a 12 month high of $1,341.15.

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). Netflix had a net margin of 24.05% and a return on equity of 41.86%. The company had revenue of $11.51 billion during the quarter, compared to analyst estimates of $11.52 billion. During the same quarter last year, the business posted $5.40 EPS. Netflix’s quarterly revenue was up 17.2% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. Equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.