Bristlecone Advisors LLC Lowers Stock Position in Netflix, Inc. $NFLX

Bristlecone Advisors LLC lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,458 shares of the Internet television network’s stock after selling 779 shares during the quarter. Bristlecone Advisors LLC’s holdings in Netflix were worth $7,309,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NFLX. Brighton Jones LLC boosted its stake in Netflix by 5.0% during the fourth 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 period. Revolve Wealth Partners LLC boosted its stake in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after purchasing an additional 144 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of Netflix by 3.7% in the first quarter. Golden State Wealth Management LLC now owns 1,129 shares of the Internet television network’s stock valued at $1,053,000 after purchasing an additional 40 shares during the period. Albion Financial Group UT boosted its stake in shares of Netflix by 23.1% in the first quarter. Albion Financial Group UT now owns 80 shares of the Internet television network’s stock valued at $75,000 after purchasing an additional 15 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in shares of Netflix by 13.3% in the first quarter. Valley National Advisers Inc. now owns 111 shares of the Internet television network’s stock valued at $103,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 0.7%

NFLX stock opened at $1,102.50 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a twelve month low of $747.77 and a twelve month high of $1,341.15. The company’s 50 day moving average is $1,201.97 and its two-hundred day moving average is $1,191.47. The stock has a market cap of $467.16 billion, a P/E ratio of 46.05, a PEG ratio of 1.89 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share for the quarter, missing analysts’ consensus estimates of $6.88 by ($1.01). Netflix had a return on equity of 41.86% and a net margin of 24.05%.The company had revenue of $11.51 billion for the quarter, compared to analyst estimates of $11.52 billion. During the same period in the previous year, the business posted $5.40 EPS. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. Research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the subject of several recent research reports. Benchmark reissued a “hold” rating on shares of Netflix in a research note on Wednesday, October 22nd. UBS Group set a $1,500.00 price objective on shares of Netflix in a research note on Wednesday, October 22nd. Arete raised their price objective on shares of Netflix from $833.00 to $1,084.00 and gave the company a “neutral” rating in a research note on Tuesday. Robert W. Baird raised their price objective on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Finally, KeyCorp raised their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $1,344.64.

Insider Activity at Netflix

In other news, Director Reed Hastings sold 42,176 shares of the firm’s 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 transaction, the director directly owned 394 shares in the company, valued at approximately $461,736.48. This trade represents a 99.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,600 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,172.51, for a total transaction of $3,048,526.00. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,327,734.41. This trade represents a 41.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 104,100 shares of company stock valued at $122,710,980 in the last quarter. Company 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.