Fisher Asset Management LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 34.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,545 shares of the Internet television network’s stock after selling 805 shares during the period. Fisher Asset Management LLC’s holdings in Netflix were worth $231,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. Grubman Wealth Management acquired a new stake in shares of Netflix during the first quarter worth about $1,035,000. Raymond James Trust N.A. increased its position in shares of Netflix by 57.0% in the first quarter. Raymond James Trust N.A. now owns 2,800 shares of the Internet television network’s stock worth $414,000 after buying an additional 1,017 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its position in shares of Netflix by 1,487.2% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 190,989 shares of the Internet television network’s stock worth $28,230,000 after buying an additional 178,956 shares in the last quarter. Paradigm Financial Advisors LLC bought a new position in shares of Netflix during the first quarter worth approximately $238,000. Finally, CENTRAL TRUST Co increased its position in shares of Netflix by 408.4% in the first quarter. CENTRAL TRUST Co now owns 849 shares of the Internet television network’s stock worth $125,000 after buying an additional 682 shares in the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.
Netflix, Inc. (NASDAQ:NFLX) opened at 171.40 on Friday. Netflix, Inc. has a one year low of $93.26 and a one year high of $191.50. The stock has a market cap of $74.00 billion, a P/E ratio of 208.52 and a beta of 1.02. The stock’s 50 day moving average price is $168.76 and its 200-day moving average price is $153.74.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. Netflix’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. On average, analysts predict that Netflix, Inc. will post $1.19 earnings per share for the current year.
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A number of equities analysts have recently commented on the company. UBS AG reissued a “buy” rating and set a $175.00 price objective on shares of Netflix in a research report on Wednesday, April 19th. Loop Capital upped their price target on Netflix from $162.00 to $172.00 and gave the company an “outperform” rating in a report on Wednesday, April 19th. BMO Capital Markets reiterated a “market perform” rating and issued a $180.00 price objective (up previously from $150.00) on shares of Netflix in a research note on Tuesday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research note on Tuesday, July 18th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $199.00 price objective (up previously from $184.00) on shares of Netflix in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $175.13.
In other Netflix news, CEO Reed Hastings sold 101,815 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $157.13, for a total transaction of $15,998,190.95. Following the completion of the sale, the chief executive officer now directly owns 101,815 shares in the company, valued at $15,998,190.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $156.62, for a total transaction of $156,620.00. Following the completion of the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,254,839.44. The disclosure for this sale can be found here. Insiders sold a total of 389,801 shares of company stock valued at $64,889,201 in the last 90 days. 4.90% of the stock is owned by corporate insiders.
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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