Netflix, Inc. $NFLX Shares Acquired by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,550 shares of the Internet television network’s stock after purchasing an additional 158 shares during the period. Cornerstone Wealth Group LLC’s holdings in Netflix were worth $2,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC boosted its stake in Netflix by 100.0% during 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 period. Stephens Consulting LLC boosted its stake in Netflix by 150.0% during the 2nd quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock valued at $33,000 after purchasing an additional 15 shares during the period. Flaharty Asset Management LLC acquired a new stake in Netflix in the first quarter worth about $37,000. Maseco LLP acquired a new stake in Netflix in the second quarter worth about $39,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Netflix in the first quarter worth about $42,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Down 0.1%

NFLX stock opened at $1,219.03 on Tuesday. Netflix, Inc. has a 12 month low of $677.88 and a 12 month high of $1,341.15. The firm has a market cap of $518.00 billion, a PE ratio of 51.94, a P/E/G ratio of 2.05 and a beta of 1.59. The firm has a 50 day simple moving average of $1,211.81 and a 200 day simple moving average of $1,171.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

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

Analysts Set New Price Targets

NFLX has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Netflix from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. 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 note on Thursday, July 10th. Cowen reaffirmed a “buy” rating on shares of Netflix in a research note on Tuesday, October 7th. Pivotal Research reaffirmed a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. Finally, Wells Fargo & Company upped their price target 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,337.63.

Insiders Place Their Bets

In related news, CFO Spencer Adam Neumann sold 2,600 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $1,172.51, for a total value of $3,048,526.00. Following the completion of the sale, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,327,734.41. This represents a 41.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction 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 trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,100 shares of company stock worth $122,710,980 in the last quarter. Corporate 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.