Conning Inc. Sells 103 Shares of Netflix, Inc. $NFLX

Conning Inc. lowered its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,628 shares of the Internet television network’s stock after selling 103 shares during the quarter. Conning Inc.’s holdings in Netflix were worth $3,519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NFLX. Nuveen LLC purchased a new stake in shares of Netflix during the 1st quarter valued at about $2,385,585,000. Kingstone Capital Partners Texas LLC increased its position in shares of Netflix by 343,058.2% during the 2nd 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 purchasing an additional 2,463,158 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Netflix by 57.3% during the 1st 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 purchasing an additional 1,236,251 shares during the last quarter. Amundi increased its position in shares of Netflix by 37.7% during the 1st quarter. Amundi now owns 2,070,221 shares of the Internet television network’s stock valued at $1,898,496,000 after purchasing an additional 567,251 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Netflix by 1.4% during 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 purchasing an additional 509,255 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NFLX. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Netflix in a research report on Wednesday. Loop Capital raised shares of Netflix from a “hold” rating to a “buy” rating and increased their target price for the stock from $1,150.00 to $1,350.00 in a report on Wednesday, September 17th. Zacks Research lowered shares of Netflix from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. TD Cowen reduced their target price on shares of Netflix from $1,450.00 to $1,425.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Wall Street Zen lowered 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-six have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,337.63.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,600 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $1,172.51, for a total transaction of $3,048,526.00. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at $4,327,734.41. This trade represents a 41.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Reed Hastings sold 42,176 shares of the stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,100 shares of company stock worth $122,710,980. Insiders own 1.37% of the company’s stock.

Netflix Trading Down 0.9%

Shares of NFLX opened at $1,220.08 on Friday. 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, Inc. has a 1 year low of $677.88 and a 1 year high of $1,341.15. The company has a 50 day simple moving average of $1,210.84 and a two-hundred day simple moving average of $1,167.10. The firm has a market cap of $518.45 billion, a P/E ratio of 51.98, a price-to-earnings-growth ratio of 2.07 and a beta of 1.59.

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, beating analysts’ consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the firm posted $4.88 EPS. The company’s 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. On average, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.