Netflix, Inc. $NFLX Position Trimmed by Penobscot Wealth Management

Penobscot Wealth Management decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 14.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 199 shares of the Internet television network’s stock after selling 34 shares during the period. Penobscot Wealth Management’s holdings in Netflix were worth $266,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Netflix by 1.4% during the first 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 increased its stake in Netflix by 2.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock valued at $10,940,505,000 after purchasing an additional 304,399 shares during the last quarter. Alliancebernstein L.P. increased its stake in 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 purchasing an additional 53,611 shares during the last quarter. Invesco Ltd. increased its stake in Netflix by 8.3% during the first quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network’s stock valued at $4,350,083,000 after purchasing an additional 356,617 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Netflix by 3.5% during the first quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network’s stock valued at $4,089,765,000 after purchasing an additional 148,675 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 42,176 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the completion of the sale, the director owned 394 shares of the company’s stock, valued at $461,736.48. This represents a 99.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Cletus R. Willems sold 238 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total transaction of $274,537.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,100 shares of company stock valued at $122,710,980. Corporate insiders own 1.37% of the company’s stock.

Netflix Stock Performance

NFLX stock opened at $1,094.69 on Monday. The company has a market capitalization of $463.85 billion, a P/E ratio of 45.73, a PEG ratio of 1.89 and a beta of 1.59. The company has a 50-day simple moving average of $1,207.21 and a 200 day simple moving average of $1,189.16. Netflix, Inc. has a fifty-two week low of $747.77 and a fifty-two week high of $1,341.15. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.56.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Cowen reiterated a “buy” rating on shares of Netflix in a research note on Tuesday, October 7th. Phillip Securities lowered shares of Netflix from a “hold” rating to a “strong sell” rating in a research report on Monday, July 21st. Citigroup restated a “neutral” rating and set a $1,295.00 price target (up previously from $1,280.00) on shares of Netflix in a research report on Friday, October 3rd. KeyCorp upped their price target on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, Argus set a $1,410.00 price target on shares of Netflix in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,352.78.

Netflix 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.