Hartford Financial Management Inc. lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 666 shares of the Internet television network’s stock after selling 50 shares during the period. Hartford Financial Management Inc.’s holdings in Netflix were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of NFLX. Dimensional Fund Advisors LP raised its position in Netflix by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 692,107 shares of the Internet television network’s stock valued at $185,212,000 after buying an additional 48,349 shares during the last quarter. First Manhattan Co. grew its holdings in Netflix by 43.1% during the first quarter. First Manhattan Co. now owns 5,131 shares of the Internet television network’s stock valued at $1,829,000 after purchasing an additional 1,546 shares during the period. Strategic Advisors LLC bought a new position in Netflix during the first quarter valued at $230,000. Raymond James Trust N.A. grew its holdings in Netflix by 34.7% during the first quarter. Raymond James Trust N.A. now owns 3,837 shares of the Internet television network’s stock valued at $1,368,000 after purchasing an additional 988 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new position in Netflix during the first quarter valued at $689,000. Hedge funds and other institutional investors own 76.94% of the company’s stock.
Shares of NFLX opened at $312.28 on Wednesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $135.26 billion, a price-to-earnings ratio of 116.52, a PEG ratio of 3.14 and a beta of 1.23. Netflix, Inc. has a 1-year low of $231.23 and a 1-year high of $386.80. The company’s fifty day moving average is $343.27.
NFLX has been the subject of several research reports. Oppenheimer reduced their price objective on Netflix from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Nomura cut their price objective on Netflix from $320.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Deutsche Bank lifted their price objective on Netflix to $371.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Buckingham Research cut their price objective on Netflix from $382.00 to $358.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, Wolfe Research started coverage on Netflix in a research report on Thursday, June 20th. They set an “outperform” rating and a $442.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. Netflix currently has a consensus rating of “Buy” and a consensus target price of $390.47.
In other Netflix news, Director Ann Mather sold 1,208 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $375.00, for a total value of $453,000.00. Following the transaction, the director now directly owns 357 shares in the company, valued at approximately $133,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reed Hastings sold 57,414 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $348.88, for a total transaction of $20,030,596.32. Following the completion of the transaction, the chief executive officer now owns 57,414 shares in the company, valued at $20,030,596.32. The disclosure for this sale can be found here. Insiders sold a total of 165,862 shares of company stock valued at $56,966,404 over the last 90 days. 3.72% of the stock is currently owned by company insiders.
Netflix Company 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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