Sowell Financial Services LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 16.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,862 shares of the Internet television network’s stock after selling 380 shares during the quarter. Sowell Financial Services LLC’s holdings in Netflix were worth $369,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Netflix by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 27,950,272 shares of the Internet television network’s stock worth $4,176,049,000 after acquiring an additional 789,190 shares in the last quarter. BlackRock Inc. boosted its position in Netflix by 1.7% during the 2nd quarter. BlackRock Inc. now owns 25,663,728 shares of the Internet television network’s stock valued at $3,834,416,000 after purchasing an additional 423,968 shares during the period. FMR LLC boosted its position in Netflix by 12.4% during the 2nd quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock valued at $3,531,042,000 after purchasing an additional 2,605,731 shares during the period. Jennison Associates LLC boosted its position in Netflix by 14.0% during the 2nd quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock valued at $2,208,891,000 after purchasing an additional 1,814,056 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Netflix by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,638,317 shares of the Internet television network’s stock valued at $659,809,000 after purchasing an additional 172,229 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.
In other news, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $194.29, for a total transaction of $136,003.00. Following the sale, the director now owns 7,393 shares in the company, valued at approximately $1,436,385.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Reed Hastings sold 93,380 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $166.07, for a total transaction of $15,507,616.60. Following the sale, the chief executive officer now owns 93,380 shares in the company, valued at approximately $15,507,616.60. The disclosure for this sale can be found here. Insiders sold a total of 344,072 shares of company stock worth $63,582,550 over the last quarter. Corporate insiders own 4.90% of the company’s stock.
NFLX has been the topic of several recent analyst reports. B. Riley reaffirmed a “neutral” rating on shares of Netflix in a research note on Wednesday, November 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $165.00 target price (down previously from $171.80) on shares of Netflix in a research note on Wednesday, August 9th. Wedbush reaffirmed a “sell” rating on shares of Netflix in a research note on Wednesday, August 9th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Netflix in a research note on Wednesday, August 9th. Finally, SunTrust Banks, Inc. set a $175.00 price objective on Netflix and gave the stock a “hold” rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirty-two have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $207.20.
Shares of Netflix, Inc. (NFLX) traded down $2.31 during mid-day trading on Friday, reaching $193.20. 3,753,775 shares of the company’s stock were exchanged, compared to its average volume of 6,689,170. Netflix, Inc. has a twelve month low of $113.51 and a twelve month high of $204.38. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.47. The company has a market cap of $84,600.00, a P/E ratio of 197.69, a price-to-earnings-growth ratio of 5.75 and a beta of 1.39.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, October 16th. The Internet television network reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Netflix had a net margin of 4.04% and a return on equity of 14.56%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 earnings per share. research analysts predict that Netflix, Inc. will post 1.28 earnings per share for the current fiscal year.
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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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