New Wave Wealth Advisors LLC Sells 2,114 Shares of Netflix, Inc. $NFLX

New Wave Wealth Advisors LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 65.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,107 shares of the Internet television network’s stock after selling 2,114 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in Netflix were worth $1,482,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Community Financial Services Group LLC bought a new stake in shares of Netflix in the second quarter worth $5,572,000. NRI Wealth Management LC lifted its position in shares of Netflix by 1.6% in the second quarter. NRI Wealth Management LC now owns 3,858 shares of the Internet television network’s stock worth $5,166,000 after purchasing an additional 61 shares in the last quarter. Precision Wealth Strategies LLC lifted its position in shares of Netflix by 25.4% in the second quarter. Precision Wealth Strategies LLC now owns 5,368 shares of the Internet television network’s stock worth $7,188,000 after purchasing an additional 1,089 shares in the last quarter. jvl associates llc bought a new stake in shares of Netflix in the second quarter worth $327,000. Finally, B.O.S.S. Retirement Advisors LLC bought a new stake in shares of Netflix in the second quarter worth $359,000. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NASDAQ:NFLX opened at $1,170.90 on Thursday. Netflix, Inc. has a one year low of $677.88 and a one year high of $1,341.15. The company has a market cap of $497.55 billion, a P/E ratio of 49.89, a P/E/G ratio of 2.02 and a beta of 1.59. The firm’s fifty day moving average price is $1,208.27 and its two-hundred day moving average price is $1,155.95. 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 released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the previous year, the company earned $4.88 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In related news, Director Reed Hastings sold 25,959 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the transaction, the director directly owned 394 shares in the company, valued at approximately $475,837.74. This represents a 98.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 15,168 shares in the company, valued at $17,604,284.16. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,324 shares of company stock valued at $70,235,556. Corporate insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NFLX shares. Seaport Res Ptn lowered shares of Netflix from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 6th. Loop Capital raised shares of Netflix from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $1,150.00 to $1,350.00 in a research report on Wednesday, September 17th. The Goldman Sachs Group cut their price objective on shares of Netflix from $1,310.00 to $1,300.00 and set a “neutral” rating on the stock in a research report on Tuesday. Phillip Securities downgraded shares of Netflix from a “hold” rating to a “strong sell” rating in a report on Monday, July 21st. Finally, Wells Fargo & Company boosted their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,334.03.

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.