Tompkins Financial Corp Trims Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Tompkins Financial Corp lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 63.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 193 shares of the Internet television network’s stock after selling 333 shares during the period. Tompkins Financial Corp’s holdings in Netflix were worth $88,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Engrave Wealth Partners LLC lifted its holdings in shares of Netflix by 65.0% in the second quarter. Engrave Wealth Partners LLC now owns 66 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 26 shares in the last quarter. Motco grew its stake in shares of Netflix by 57.1% in the second quarter. Motco now owns 66 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 24 shares during the last quarter. Kistler Tiffany Companies LLC raised its holdings in Netflix by 688.9% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 71 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares during the last quarter. AlphaCore Capital LLC bought a new position in shares of Netflix in the 1st quarter worth $29,000. Finally, Lucia Wealth Services LLC grew its stake in shares of Netflix by 325.0% during the first quarter. Lucia Wealth Services LLC now owns 85 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 65 shares during the period. 82.30% of the stock is owned by institutional investors.

NASDAQ:NFLX opened at $488.88 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.64. The stock’s 50 day moving average price is $476.08 and its two-hundred day moving average price is $407.12. The firm has a market capitalization of $214.25 billion, a price-to-earnings ratio of 82.44, a P/E/G ratio of 2.58 and a beta of 0.96. Netflix, Inc. has a 12-month low of $252.28 and a 12-month high of $575.37.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 16th. The Internet television network reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.22). Netflix had a return on equity of 33.32% and a net margin of 11.85%. The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.08 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. Equities research analysts expect that Netflix, Inc. will post 6.28 EPS for the current year.

A number of equities analysts have issued reports on the company. Benchmark raised their target price on Netflix from $340.00 to $397.00 and gave the stock a “sell” rating in a report on Monday, July 13th. BofA Securities reduced their price objective on shares of Netflix from $625.00 to $575.00 and set a “buy” rating on the stock in a research note on Friday, July 17th. Raymond James downgraded shares of Netflix from a “strong-buy” rating to an “outperform” rating and upped their target price for the company from $415.00 to $480.00 in a research note on Wednesday, April 22nd. Monness Crespi & Hardt lifted their price target on shares of Netflix from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Finally, Wells Fargo & Co reissued a “hold” rating and issued a $470.00 price target (up previously from $460.00) on shares of Netflix in a report on Friday, July 17th. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Netflix has an average rating of “Hold” and a consensus price target of $483.56.

In related news, insider Gregory K. Peters sold 5,366 shares of Netflix stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $450.00, for a total transaction of $2,414,700.00. Following the completion of the sale, the insider now owns 18,456 shares of the company’s stock, valued at approximately $8,305,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anne M. Sweeney sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $450.00, for a total transaction of $675,000.00. Following the completion of the transaction, the director now owns 300 shares in the company, valued at approximately $135,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,612 shares of company stock worth $90,145,458. Corporate insiders own 3.40% of the company’s stock.

Netflix Profile

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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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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