Netflix, Inc. $NFLX Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 16.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 26,796 shares of the Internet television network’s stock after selling 5,231 shares during the period. Netflix comprises about 1.4% of SteelPeak Wealth LLC’s portfolio, making the stock its 15th largest holding. SteelPeak Wealth LLC’s holdings in Netflix were worth $35,883,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of NFLX. Optima Capital LLC lifted its stake in Netflix by 3.5% in the 2nd quarter. Optima Capital LLC now owns 239 shares of the Internet television network’s stock worth $320,000 after acquiring an additional 8 shares in the last quarter. Unified Investment Management boosted its holdings in shares of Netflix by 1.7% during the second quarter. Unified Investment Management now owns 474 shares of the Internet television network’s stock worth $635,000 after purchasing an additional 8 shares during the period. Plancorp LLC grew its position in Netflix by 0.6% during the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network’s stock valued at $1,711,000 after purchasing an additional 8 shares in the last quarter. Five Oceans Advisors grew its position in Netflix by 1.1% during the second quarter. Five Oceans Advisors now owns 751 shares of the Internet television network’s stock valued at $1,006,000 after purchasing an additional 8 shares in the last quarter. Finally, Old Port Advisors increased its stake in Netflix by 1.3% in the 2nd quarter. Old Port Advisors now owns 624 shares of the Internet television network’s stock valued at $836,000 after buying an additional 8 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NFLX. Needham & Company LLC restated a “buy” rating and set a $1,500.00 price target on shares of Netflix in a report on Wednesday, September 10th. JPMorgan Chase & Co. upped their target price on Netflix from $1,230.00 to $1,300.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Citigroup reiterated a “neutral” rating and set a $1,295.00 price target (up from $1,280.00) on shares of Netflix in a report on Friday. Loop Capital raised Netflix from a “hold” rating to a “buy” rating and boosted their price target for the company from $1,150.00 to $1,350.00 in a research note on Wednesday, September 17th. Finally, Phillip Securities lowered shares of Netflix from a “hold” rating to a “strong sell” rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,335.00.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 2,026 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the transaction, the chief executive officer directly owned 12,781 shares in the company, valued at $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of the firm’s 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 sale, the chief executive officer owned 15,168 shares of the company’s stock, valued at $17,604,284.16. This represents a 11.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,100 shares of company stock worth $122,710,980. Insiders own 1.37% of the company’s stock.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,163.31 on Tuesday. Netflix, Inc. has a 12 month low of $677.88 and a 12 month high of $1,341.15. The company has a market cap of $494.33 billion, a P/E ratio of 49.57, a P/E/G ratio of 1.94 and a beta of 1.59. The business’s 50 day moving average is $1,207.13 and its two-hundred day moving average is $1,163.23. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

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