Richards Merrill & Peterson Inc. Acquires 107 Shares of Netflix, Inc. $NFLX

Richards Merrill & Peterson Inc. increased its position in Netflix, Inc. (NASDAQ:NFLX) by 51.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 315 shares of the Internet television network’s stock after purchasing an additional 107 shares during the quarter. Richards Merrill & Peterson Inc.’s holdings in Netflix were worth $422,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Optima Capital LLC lifted its position in shares of Netflix by 3.5% during the 2nd quarter. Optima Capital LLC now owns 239 shares of the Internet television network’s stock worth $320,000 after buying an additional 8 shares in the last quarter. Unified Investment Management grew its stake in Netflix by 1.7% in the 2nd quarter. Unified Investment Management now owns 474 shares of the Internet television network’s stock valued at $635,000 after purchasing an additional 8 shares during the period. Plancorp LLC raised its stake in shares of Netflix by 0.6% during the 2nd quarter. Plancorp LLC now owns 1,278 shares of the Internet television network’s stock worth $1,711,000 after purchasing an additional 8 shares during the period. Five Oceans Advisors grew its position in Netflix by 1.1% during the second quarter. Five Oceans Advisors now owns 751 shares of the Internet television network’s stock valued at $1,006,000 after buying an additional 8 shares during the period. Finally, Old Port Advisors raised its position in Netflix by 1.3% in the second quarter. Old Port Advisors now owns 624 shares of the Internet television network’s stock worth $836,000 after acquiring an additional 8 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In other Netflix 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 transaction, 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 filing with the SEC, which is available through this link. Also, insider Cletus R. Willems sold 238 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were 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. Insiders sold 104,100 shares of company stock valued at $122,710,980 in the last quarter. Insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NFLX. Wall Street Zen downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Argus set a $1,410.00 price objective on Netflix in a research note on Thursday. Wells Fargo & Company cut their price target on shares of Netflix from $1,560.00 to $1,510.00 and set an “overweight” rating for the company in a report on Wednesday. Benchmark reiterated a “hold” rating on shares of Netflix in a research report on Wednesday. Finally, Itau BBA Securities initiated coverage on Netflix in a research note on Tuesday, October 7th. They issued an “outperform” rating and a $1,514.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,352.78.

Netflix Stock Down 1.7%

Shares of NFLX opened at $1,094.69 on Friday. The business’s 50 day simple moving average is $1,207.21 and its 200-day simple moving average is $1,185.28. Netflix, Inc. has a 1 year low of $747.77 and a 1 year high of $1,341.15. The stock has a market capitalization of $463.85 billion, a price-to-earnings ratio of 45.73, a price-to-earnings-growth ratio of 1.92 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.34.

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

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.