Fairfield Bush & CO. lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,300 shares of the Internet television network’s stock after selling 700 shares during the period. Fairfield Bush & CO.’s holdings in Netflix were worth $493,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in NFLX. Neuberger Berman Group LLC increased its stake in shares of Netflix by 3.6% during the first quarter. Neuberger Berman Group LLC now owns 77,874 shares of the Internet television network’s stock valued at $11,511,000 after buying an additional 2,723 shares during the period. Cornerstone Capital Management Holdings LLC. grew its stake in Netflix by 14.9% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 92,517 shares of the Internet television network’s stock valued at $13,674,000 after purchasing an additional 11,980 shares during the last quarter. AXA grew its stake in Netflix by 92.0% in the first quarter. AXA now owns 158,400 shares of the Internet television network’s stock valued at $23,413,000 after purchasing an additional 75,900 shares during the last quarter. Traynor Capital Management Inc. grew its stake in Netflix by 7.8% in the first quarter. Traynor Capital Management Inc. now owns 34,776 shares of the Internet television network’s stock valued at $5,430,000 after purchasing an additional 2,508 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC purchased a new position in Netflix in the first quarter valued at about $220,000. Hedge funds and other institutional investors own 81.02% of the company’s stock.
Several equities analysts have issued reports on NFLX shares. Canaccord Genuity lifted their target price on Netflix from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, June 16th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Netflix in a research note on Friday, June 16th. Vetr lowered Netflix from a “strong-buy” rating to a “buy” rating and set a $168.56 target price on the stock. in a research note on Monday, June 19th. BidaskClub lowered Netflix from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Finally, Guggenheim reiterated a “buy” rating and issued a $180.00 target price (up previously from $175.00) on shares of Netflix in a research note on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $187.79.
In related news, Director Leslie J. Kilgore sold 903 shares of Netflix stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $194.00, for a total value of $175,182.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Friedland sold 1,217 shares of Netflix stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $193.34, for a total value of $235,294.78. Following the completion of the transaction, the insider now owns 1,217 shares in the company, valued at approximately $235,294.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 316,067 shares of company stock valued at $56,923,386. Company insiders own 4.90% of the company’s stock.
Shares of Netflix, Inc. (NASDAQ NFLX) traded down 0.33% during trading on Wednesday, hitting $194.44. The stock had a trading volume of 1,975,610 shares. Netflix, Inc. has a 12-month low of $97.63 and a 12-month high of $199.40. The company has a market cap of $83.95 billion, a PE ratio of 237.12 and a beta of 1.09. The stock’s 50 day moving average is $180.46 and its 200-day moving average is $164.75.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. Netflix’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. Analysts forecast that Netflix, Inc. will post $1.18 earnings per share for the current year.
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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