Bingham Private Wealth LLC Sells 182 Shares of Netflix, Inc. $NFLX

Bingham Private Wealth LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 25.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 526 shares of the Internet television network’s stock after selling 182 shares during the period. Bingham Private Wealth LLC’s holdings in Netflix were worth $705,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Nuveen LLC bought a new stake in Netflix in the first quarter worth $2,385,585,000. Kingstone Capital Partners Texas LLC increased its position in Netflix by 343,058.2% during the second 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 acquiring an additional 2,463,158 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Netflix by 57.3% in the first 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 acquiring an additional 1,236,251 shares during the period. Amundi lifted its holdings in shares of Netflix by 37.7% in the 1st quarter. Amundi now owns 2,070,221 shares of the Internet television network’s stock worth $1,898,496,000 after acquiring an additional 567,251 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake 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 worth $35,433,585,000 after purchasing an additional 509,255 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Phillip Securities cut Netflix from a “hold” rating to a “strong sell” rating in a research note on Monday, July 21st. Piper Sandler raised their price target on Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Morgan Stanley restated an “equal weight” rating on shares of Netflix in a report on Monday, July 21st. Finally, JPMorgan Chase & Co. increased their target price on Netflix from $1,230.00 to $1,300.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $1,335.00.

Netflix Price Performance

Shares of NFLX stock opened at $1,163.31 on Tuesday. Netflix, Inc. has a twelve month low of $677.88 and a twelve month high of $1,341.15. The stock has a market capitalization of $494.33 billion, a price-to-earnings ratio of 49.57, a P/E/G ratio of 1.94 and a beta of 1.59. The stock has a fifty day simple moving average of $1,207.13 and a two-hundred day simple moving average of $1,163.23. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last announced its quarterly 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 analyst estimates of $11.04 billion. During the same quarter last year, the firm posted $4.88 earnings per share. The business’s revenue for the quarter 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, analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Theodore A. Sarandos sold 2,026 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 15,168 shares of the company’s stock, valued at approximately $17,604,284.16. This represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the director owned 394 shares in the company, valued at approximately $461,736.48. This represents a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,100 shares of company stock worth $122,710,980. 1.37% of the stock is owned by corporate insiders.

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.