Advisory Services Network LLC increased its stake in Netflix Inc. (NASDAQ:NFLX) by 15.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,415 shares of the Internet television network’s stock after buying an additional 706 shares during the period. Advisory Services Network LLC’s holdings in Netflix were worth $495,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. increased its position in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares in the last quarter. Kistler Tiffany Companies LLC increased its position in Netflix by 6.0% in the second quarter. Kistler Tiffany Companies LLC now owns 1,704 shares of the Internet television network’s stock valued at $156,000 after buying an additional 96 shares in the last quarter. Raymond James Trust N.A. increased its position in Netflix by 11.6% in the second quarter. Raymond James Trust N.A. now owns 2,375 shares of the Internet television network’s stock valued at $217,000 after buying an additional 246 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Netflix during the second quarter valued at approximately $220,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in Netflix by 16.4% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,201 shares of the Internet television network’s stock valued at $225,000 after buying an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 78.43% of the company’s stock.
Netflix Inc. (NASDAQ:NFLX) traded down 1.14% during trading on Thursday, reaching $105.07. 6,587,537 shares of the company were exchanged. Netflix Inc. has a 12 month low of $79.95 and a 12 month high of $133.27. The stock has a 50 day moving average price of $97.70 and a 200 day moving average price of $96.24. The firm has a market capitalization of $45.05 billion, a PE ratio of 328.34 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The firm earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. Netflix’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. On average, analysts expect that Netflix Inc. will post $0.29 EPS for the current fiscal year.
Several analysts recently issued reports on the company. Needham & Company LLC cut Netflix from a “buy” rating to a “hold” rating and raised their target price for the stock from $95.15 to $96.67 in a research note on Tuesday, July 5th. Bank of America Corp. reissued a “buy” rating and issued a $146.00 target price on shares of Netflix in a research note on Friday, August 26th. Wedbush raised their target price on Netflix from $45.00 to $50.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 19th. Vetr cut Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 target price on the stock. in a research note on Wednesday, July 27th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $122.00 target price on shares of Netflix in a research note on Wednesday, September 7th. Seven equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. Netflix currently has a consensus rating of “Hold” and a consensus target price of $110.97.
In other news, Director Jay C. Hoag acquired 600,000 shares of the business’s stock in a transaction on Monday, July 25th. The stock was bought at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 700 shares of the company’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $96.19, for a total transaction of $67,333.00. Following the transaction, the director now owns 15,562 shares of the company’s stock, valued at approximately $1,496,908.78. 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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