Spire Wealth Management Trims Position in Netflix, Inc. $NFLX

Spire Wealth Management trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 23.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,047 shares of the Internet television network’s stock after selling 4,876 shares during the period. Netflix accounts for approximately 0.8% of Spire Wealth Management’s portfolio, making the stock its 25th largest position. Spire Wealth Management’s holdings in Netflix were worth $21,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NFLX. Nuveen LLC purchased a new stake in shares of Netflix in the first quarter valued at about $2,385,585,000. Kingstone Capital Partners Texas LLC raised its holdings in shares of Netflix by 343,058.2% in the second 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 buying an additional 2,463,158 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Netflix by 57.3% in the first 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 buying an additional 1,236,251 shares during the last quarter. Amundi raised its holdings in shares of Netflix by 37.7% in the first quarter. Amundi now owns 2,070,221 shares of the Internet television network’s stock valued at $1,898,496,000 after buying an additional 567,251 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock valued at $35,433,585,000 after buying an additional 509,255 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Netflix news, Director Reed Hastings sold 42,176 shares of the stock in a transaction dated Wednesday, October 1st. The shares were 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 directly owned 394 shares of the company’s stock, valued at approximately $461,736.48. This trade represents a 99.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at approximately $4,290,418.40. This trade represents a 41.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 104,100 shares of company stock valued at $122,710,980 in the last 90 days. 1.37% of the stock is owned by corporate insiders.

Netflix Trading Down 0.2%

Shares of Netflix stock opened at $1,100.41 on Thursday. Netflix, Inc. has a 12-month low of $747.77 and a 12-month high of $1,341.15. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. The stock has a market cap of $466.28 billion, a PE ratio of 45.97, a price-to-earnings-growth ratio of 1.91 and a beta of 1.59. The company has a 50-day moving average of $1,199.70 and a two-hundred day moving average of $1,192.74.

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 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 analysts’ expectations of $11.52 billion. During the same period last year, the business posted $5.40 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. On average, research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NFLX shares. Robert W. Baird upped their target price on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Wedbush reduced their target price on shares of Netflix from $1,500.00 to $1,400.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Citic Securities cut their price target on shares of Netflix from $1,280.00 to $1,250.00 and set a “hold” rating for the company in a report on Wednesday. Barclays reissued a “sell” rating and set a $1,100.00 price target (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Finally, Wall Street Zen cut shares of Netflix from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,341.12.

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.