Meritage Portfolio Management Acquires Shares of 170 Netflix, Inc. $NFLX

Meritage Portfolio Management acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 170 shares of the Internet television network’s stock, valued at approximately $228,000.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after buying an additional 257 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after buying an additional 144 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Netflix by 17.6% during the 1st quarter. GAMMA Investing LLC now owns 9,475 shares of the Internet television network’s stock worth $8,836,000 after buying an additional 1,415 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Netflix by 28.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 91,054 shares of the Internet television network’s stock worth $84,909,000 after buying an additional 20,152 shares during the last quarter. Finally, Good Life Advisors LLC lifted its holdings in Netflix by 7.0% during the 1st quarter. Good Life Advisors LLC now owns 5,851 shares of the Internet television network’s stock worth $5,456,000 after buying an additional 384 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Down 0.1%

NFLX opened at $1,219.03 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 debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $518.00 billion, a P/E ratio of 51.94, a P/E/G ratio of 2.05 and a beta of 1.59. The stock’s 50 day moving average price is $1,211.81 and its 200 day moving average price is $1,171.80.

Netflix (NASDAQ:NFLX) last posted its earnings results 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 return on equity of 42.50% and a net margin of 24.58%.The firm had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $11.04 billion. During the same period last year, the firm earned $4.88 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the topic of a number of research analyst reports. TD Cowen reduced their target price on Netflix from $1,450.00 to $1,425.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Zacks Research downgraded Netflix from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Loop Capital raised Netflix from a “hold” rating to a “buy” rating and raised their price target for the stock from $1,150.00 to $1,350.00 in a report on Wednesday, September 17th. Finally, Wall Street Zen downgraded Netflix from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $1,337.63.

Insider Transactions at Netflix

In related news, Director Reed Hastings sold 42,176 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the sale, the director directly owned 394 shares in the company, valued at $461,736.48. This trade represents a 99.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $2,344,973.44. Following the completion of the sale, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,100 shares of company stock worth $122,710,980 over the last quarter. Insiders own 1.37% of the company’s stock.

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.