Grimes & Company Inc. Increases Stock Position in Netflix, Inc. $NFLX

Grimes & Company Inc. grew its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 447 shares of the Internet television network’s stock after purchasing an additional 71 shares during the quarter. Grimes & Company Inc.’s holdings in Netflix were worth $599,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Halbert Hargrove Global Advisors LLC raised its position in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 13 shares during the last quarter. Maseco LLP purchased a new position in Netflix during the 2nd quarter worth $39,000. Ransom Advisory Ltd acquired a new position in Netflix in the second quarter valued at $47,000. Flaharty Asset Management LLC purchased a new stake in shares of Netflix in the first quarter valued at about $37,000. Finally, Signature Resources Capital Management LLC raised its holdings in shares of Netflix by 740.0% in the second quarter. Signature Resources Capital Management LLC now owns 42 shares of the Internet television network’s stock valued at $56,000 after buying an additional 37 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,163.31 on Tuesday. The firm’s fifty day simple moving average is $1,207.13 and its 200-day simple moving average is $1,163.23. 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 $494.33 billion, a PE ratio of 49.57, a price-to-earnings-growth ratio of 1.94 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $677.88 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $4.88 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. Analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 424 shares of Netflix stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the completion of the transaction, the insider owned 31,610 shares of the company’s stock, valued at $36,625,558.70. The trade was a 1.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the sale, the chief executive officer owned 12,781 shares in the company, valued at $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. Over the last quarter, insiders have sold 104,100 shares of company stock valued at $122,710,980. Company insiders own 1.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NFLX. Wells Fargo & Company raised their price target on Netflix from $1,500.00 to $1,560.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Sanford C. Bernstein lifted their target price on Netflix from $1,200.00 to $1,390.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Needham & Company LLC reissued a “buy” rating and issued a $1,500.00 target price on shares of Netflix in a report on Wednesday, September 10th. Morgan Stanley restated an “equal weight” rating on shares of Netflix in a research note on Monday, July 21st. Finally, Piper Sandler lifted their price objective on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,335.00.

Netflix Company 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.