Waterfront Wealth Inc. Has $2.20 Million Stock Position in Netflix, Inc. $NFLX

Waterfront Wealth Inc. raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,644 shares of the Internet television network’s stock after acquiring an additional 49 shares during the period. Waterfront Wealth Inc.’s holdings in Netflix were worth $2,202,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position 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 acquiring an additional 509,255 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Netflix by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock valued at $10,940,505,000 after purchasing an additional 304,399 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Netflix by 1.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network’s stock valued at $4,844,436,000 after purchasing an additional 53,611 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Netflix by 8.3% in the 1st quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network’s stock valued at $4,350,083,000 after purchasing an additional 356,617 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Netflix by 3.5% in the 1st quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network’s stock valued at $4,089,765,000 after purchasing an additional 148,675 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 424 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the transaction, the insider directly owned 31,610 shares of the company’s stock, valued at approximately $36,625,558.70. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reed Hastings sold 42,176 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 394 shares in the company, valued at $461,736.48. This trade represents a 99.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 104,100 shares of company stock valued at $122,710,980. Corporate insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NFLX shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,425.00 price objective (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. JPMorgan Chase & Co. reduced their price objective on shares of Netflix from $1,300.00 to $1,275.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 22nd. Cowen reaffirmed a “buy” rating on shares of Netflix in a research note on Tuesday, October 7th. Wedbush reduced their price objective on shares of Netflix from $1,500.00 to $1,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Finally, Arete upped their price objective on shares of Netflix from $833.00 to $1,084.00 and gave the company a “neutral” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,344.64.

Netflix Stock Up 0.7%

Shares of NASDAQ NFLX opened at $1,102.50 on Wednesday. The firm has a market cap of $467.16 billion, a PE ratio of 46.05, a P/E/G ratio of 1.89 and a beta of 1.59. Netflix, Inc. has a 12-month low of $747.77 and a 12-month high of $1,341.15. The company’s fifty day simple moving average is $1,201.97 and its 200 day simple moving average is $1,191.47. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.88 by ($1.01). The company had revenue of $11.51 billion for the quarter, compared to the consensus estimate of $11.52 billion. Netflix had a return on equity of 41.86% and a net margin of 24.05%.The firm’s revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.40 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.