Netflix, Inc. $NFLX is Prakash Investment Advisors LLC’s 2nd Largest Position

Prakash Investment Advisors LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.0% in the 2nd quarter, Holdings Channel reports. The fund owned 9,607 shares of the Internet television network’s stock after selling 100 shares during the quarter. Netflix accounts for 11.2% of Prakash Investment Advisors LLC’s holdings, making the stock its 2nd largest holding. Prakash Investment Advisors LLC’s holdings in Netflix were worth $12,865,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. LeConte Wealth Management LLC purchased a new stake in Netflix during the 2nd quarter valued at about $470,000. First City Capital Management Inc. purchased a new stake in Netflix during the 2nd quarter valued at about $257,000. Oxinas Partners Wealth Management LLC grew its stake in Netflix by 50.6% during the 2nd quarter. Oxinas Partners Wealth Management LLC now owns 586 shares of the Internet television network’s stock valued at $785,000 after acquiring an additional 197 shares in the last quarter. Palumbo Wealth Management LLC grew its stake in Netflix by 2.8% during the 2nd quarter. Palumbo Wealth Management LLC now owns 447 shares of the Internet television network’s stock valued at $599,000 after acquiring an additional 12 shares in the last quarter. Finally, McAdam LLC grew its stake in Netflix by 11.9% during the 2nd quarter. McAdam LLC now owns 1,805 shares of the Internet television network’s stock valued at $2,417,000 after acquiring an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,290,418.40. This trade represents a 41.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 2,026 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the transaction, the chief executive officer directly owned 12,781 shares of the company’s stock, valued at $14,793,240.64. This represents a 13.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,728 shares of company stock worth $108,700,648. 1.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research reports. Morgan Stanley reaffirmed an “equal weight” rating on shares of Netflix in a research note on Monday, July 21st. Rosenblatt Securities increased their price target on shares of Netflix from $1,514.00 to $1,515.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Zacks Research cut shares of Netflix from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. BMO Capital Markets reissued an “outperform” rating and issued a $1,425.00 price target (up previously from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Finally, Barclays reissued a “sell” rating and issued a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,328.87.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,203.95 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $511.59 billion, a P/E ratio of 51.30, a PEG ratio of 2.05 and a beta of 1.60. The company has a 50 day moving average price of $1,210.04 and a 200 day moving average price of $1,145.57. Netflix, Inc. has a fifty-two week low of $677.88 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company posted $4.88 EPS. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current 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.