Strs Ohio cut its position in shares of Netflix Inc. (NASDAQ:NFLX) by 18.4% during the second quarter, Holdings Channel reports. The fund owned 254,822 shares of the Internet television network’s stock after selling 57,576 shares during the period. Strs Ohio’s holdings in Netflix were worth $23,311,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in NFLX. Dynamic Advisors Solutions LLC raised its position in Netflix by 2.5% in the first quarter. Dynamic Advisors Solutions LLC now owns 3,866 shares of the Internet television network’s stock valued at $395,000 after buying an additional 94 shares in the last quarter. CIBC World Markets Inc. raised its position in Netflix by 2.9% in the first quarter. CIBC World Markets Inc. now owns 17,005 shares of the Internet television network’s stock valued at $1,738,000 after buying an additional 480 shares in the last quarter. Exane Derivatives raised its position in Netflix by 32.0% in the first quarter. Exane Derivatives now owns 6,651 shares of the Internet television network’s stock valued at $680,000 after buying an additional 1,611 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management raised its position in Netflix by 25.9% in the first quarter. Gerber Kawasaki Wealth & Investment Management now owns 19,844 shares of the Internet television network’s stock valued at $2,028,000 after buying an additional 4,086 shares in the last quarter. Finally, Cornerstone Financial Partners LLC bought a new position in Netflix during the first quarter valued at approximately $717,000. Institutional investors own 78.43% of the company’s stock.
Shares of Netflix Inc. (NASDAQ:NFLX) traded up 2.65% during mid-day trading on Tuesday, reaching $97.07. The company’s stock had a trading volume of 9,680,100 shares. The firm has a market capitalization of $41.62 billion, a P/E ratio of 303.34 and a beta of 1.71. Netflix Inc. has a 12 month low of $79.95 and a 12 month high of $133.27. The company has a 50 day moving average of $96.76 and a 200-day moving average of $96.15.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Equities research analysts forecast that Netflix Inc. will post $0.29 EPS for the current year.
NFLX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reissued an “overweight” rating and set a $116.00 price objective (down from $125.00) on shares of Netflix in a research report on Tuesday, July 19th. MKM Partners cut their price objective on Netflix from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Vetr raised Netflix from a “hold” rating to a “buy” rating and set a $103.71 price objective for the company in a research report on Thursday, September 8th. BMO Capital Markets reissued a “market perform” rating and set a $85.00 price objective on shares of Netflix in a research report on Thursday, July 28th. Finally, Jefferies Group reissued an “underperform” rating and set a $76.00 price objective on shares of Netflix in a research report on Friday. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $110.70.
In related news, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $95.00, for a total transaction of $66,500.00. Following the transaction, the director now directly owns 15,562 shares in the company, valued at $1,478,390. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Barton sold 1,400 shares of the business’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $95.63, for a total value of $133,882.00. Following the transaction, the director now owns 15,562 shares in the company, valued at $1,488,194.06. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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