Wedmont Private Capital Raises Stake in Netflix, Inc. $NFLX

by · The Markets Daily

Wedmont Private Capital raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,192 shares of the Internet television network’s stock after acquiring an additional 321 shares during the period. Netflix comprises approximately 0.6% of Wedmont Private Capital’s portfolio, making the stock its 28th biggest holding. Wedmont Private Capital’s holdings in Netflix were worth $13,130,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings 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. Price T Rowe Associates Inc. MD lifted its stake in Netflix by 2.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock worth $10,940,505,000 after purchasing an additional 304,399 shares during the last quarter. GAMMA Investing LLC boosted its position in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after buying an additional 8,827,662 shares during the period. Alliancebernstein L.P. grew its stake in shares of Netflix by 1.0% during the first quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network’s stock valued at $4,844,436,000 after buying an additional 53,611 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Netflix by 8.3% in the first quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network’s stock worth $4,350,083,000 after buying an additional 356,617 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on NFLX. Needham & Company LLC restated a “buy” rating and set a $1,500.00 target price on shares of Netflix in a report on Wednesday, September 10th. Wells Fargo & Company lifted their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Piper Sandler upped their price target on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Phillip Securities lowered shares of Netflix from a “hold” rating to a “strong sell” rating in a report on Monday, July 21st. Finally, Citigroup restated a “neutral” rating and issued a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,328.87.

Read Our Latest Stock Analysis on NFLX

Insider Activity

In other Netflix news, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the transaction, the chief executive officer directly owned 15,168 shares of the company’s stock, valued at approximately $17,604,284.16. The trade was a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 2,026 shares of the 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 transaction of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares in the company, valued at approximately $14,793,240.64. The trade was a 13.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,348 shares of company stock worth $109,498,489. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Performance

Shares of NFLX opened at $1,228.50 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market cap of $522.02 billion, a P/E ratio of 52.34, a P/E/G ratio of 2.02 and a beta of 1.60. The business’s 50 day moving average price is $1,213.71 and its 200-day moving average price is $1,136.26. Netflix, Inc. has a 52 week low of $677.88 and a 52 week high of $1,341.15.

Netflix (NASDAQ:NFLX – Get Free Report) 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 return on equity of 42.50% and a net margin of 24.58%.The business had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $11.04 billion. During the same quarter in the previous year, the business earned $4.88 earnings per share. The firm’s quarterly 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. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

About Netflix

(Free Report)

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.

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