Sun Sep 15 15:55:09 UTC 2024: ## Federated Hermes Boosts Netflix Holdings, Insiders Sell Shares

**New York, NY** – Federated Hermes Inc., a major institutional investor, significantly increased its stake in Netflix (NFLX) during the second quarter, according to a recent SEC filing. The firm added 21,858 shares, resulting in a 42.9% increase in their Netflix holdings, now valued at $49,161,000.

This move by Federated Hermes reflects a positive sentiment towards Netflix, echoing similar actions by other hedge funds. Precision Wealth Strategies LLC, Gilbert & Cook Inc., Aveo Capital Partners LLC, Gryphon Financial Partners LLC, and First Heartland Consultants Inc. all increased their positions in Netflix during recent quarters.

However, insider trading activity paints a different picture. CFO Spencer Adam Neumann sold 433 shares of Netflix stock on August 8th, and Director Jay C. Hoag offloaded 43,750 shares on September 12th. Over the past three months, insiders have sold a total of 196,798 shares, representing 1.76% of the company’s stock.

Despite these insider sales, Netflix remains a popular stock among analysts. Rosenblatt Securities, Needham & Company LLC, Bank of America, Sanford C. Bernstein, and Citigroup have all recently raised their price targets on Netflix. The average rating among analysts is “Moderate Buy,” with a consensus price target of $685.29.

Netflix recently reported strong second-quarter earnings, beating analyst expectations. Revenue reached $9.56 billion, exceeding forecasts and demonstrating continued growth.

The recent insider transactions, while notable, may not necessarily reflect a change in sentiment towards Netflix. It’s important for investors to consider all available information, including financial performance, analyst ratings, and insider trading activity, when making investment decisions.

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