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Multiple institutional investors adjusted their Netflix holdings recently. Heartland Bank raised its stake by 0.9%, now owning 1,770 shares valued at $1.2 million. Obermeyer Wood increased its position by 2.8% with 623 shares worth $378,000. Private Portfolio Partners and FAS Wealth Partners both boosted their stakes by 1.7% and 1.5%, respectively. Clear Point Advisors raised its stake by 3.9%. Overall, 80.93% of Netflix’s stock is owned by institutional investors.
Netflix Stock Performance
NASDAQ NFLX opened at $706.13, with a market cap of $304.34 billion and a PE ratio of 49.00. The stock’s 52-week range is between $344.73 and $725.26, with a moving average of $672.13.
Netflix reported Q2 earnings of $4.88 per share, exceeding forecasts. Revenue reached $9.56 billion, up 16.8% year over year, with analysts predicting an EPS of 19.08 for the current fiscal year.
Analyst Upgrades
Recent analyst reports have been mostly positive. Evercore ISI upgraded its price target to $750, while Bank of America raised its target to $740. Overall, sentiment is bullish with a “Moderate Buy” consensus and a target price of $686.03.
Insider Transactions
Insider David A. Hyman sold 20,656 shares averaging $605.13, totaling over $12 million. CFO Spencer Adam Neumann also sold shares worth approximately $271,000. Insiders have sold $118 million of shares in the last three months, owning 1.76% of the company.
About Netflix
Netflix, Inc. offers diverse entertainment services, including TV series, films, and games, available on various internet-connected devices.
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