Diversified Trust Co grew its stake in Netflix, Inc. (NASDAQ:NFLX) by 11.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,028 shares of the Internet television network’s stock after acquiring an additional 1,457 shares during the period. Diversified Trust Co’s holdings in Netflix were worth $3,754,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Douglass Winthrop Advisors LLC grew its holdings in shares of Netflix by 100.8% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 1,193 shares of the Internet television network’s stock valued at $319,000 after acquiring an additional 599 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Netflix by 12.4% in the 3rd quarter. Sound Income Strategies LLC now owns 976 shares of the Internet television network’s stock valued at $261,000 after purchasing an additional 108 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in Netflix in the 3rd quarter valued at about $136,000. Enterprise Trust & Investment Co acquired a new stake in Netflix in the 3rd quarter valued at about $175,000. Finally, State of Alaska Department of Revenue lifted its stake in Netflix by 40.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 77,866 shares of the Internet television network’s stock valued at $20,838,000 after purchasing an additional 22,436 shares during the last quarter. Institutional investors own 78.96% of the company’s stock.
Several equities research analysts recently issued reports on NFLX shares. Aegis cut their target price on shares of Netflix from $310.00 to $275.00 and set a “hold” rating for the company in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research note on Thursday, October 3rd. Citigroup cut their target price on shares of Netflix from $420.00 to $410.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Royal Bank of Canada set a $450.00 target price on shares of Netflix and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Wedbush raised their target price on shares of Netflix from $183.00 to $188.00 and gave the company an “underperform” rating in a research note on Thursday, July 18th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $370.24.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.93 billion. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. Equities analysts expect that Netflix, Inc. will post 3.25 EPS for the current year.
In related news, CEO Reed Hastings sold 55,342 shares of Netflix stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $309.54, for a total value of $17,130,562.68. Following the transaction, the chief executive officer now directly owns 55,342 shares of the company’s stock, valued at $17,130,562.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bradford L. Smith acquired 6,499 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $308.49 per share, for a total transaction of $2,004,876.51. Following the completion of the purchase, the director now directly owns 799 shares of the company’s stock, valued at $246,483.51. The disclosure for this purchase can be found here. Insiders sold 150,983 shares of company stock worth $44,378,164 over the last three months. 3.72% of the stock is currently owned by insiders.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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