CSat Investment Advisory L.P. grew its position in Netflix, Inc. (NASDAQ:NFLX) by 97.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,889 shares of the Internet television network’s stock after buying an additional 2,910 shares during the quarter. Netflix accounts for 0.8% of CSat Investment Advisory L.P.’s holdings, making the stock its 18th largest holding. CSat Investment Advisory L.P.’s holdings in Netflix were worth $2,163,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Nelson Roberts Investment Advisors LLC lifted its holdings in shares of Netflix by 600.0% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 84 shares of the Internet television network’s stock worth $31,000 after buying an additional 72 shares during the period. TCG Advisors LP purchased a new stake in shares of Netflix in the 1st quarter worth $36,000. SRS Capital Advisors Inc. bought a new position in shares of Netflix in the 2nd quarter worth $39,000. SevenBridge Financial Group LLC raised its position in shares of Netflix by 66.7% in the 2nd quarter. SevenBridge Financial Group LLC now owns 125 shares of the Internet television network’s stock worth $46,000 after acquiring an additional 50 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of Netflix by 182.0% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock worth $50,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 78.96% of the company’s stock.
In other news, CEO Reed Hastings sold 51,898 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $372.89, for a total value of $19,352,245.22. Following the sale, the chief executive officer now owns 51,898 shares in the company, valued at $19,352,245.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bradford L. Smith bought 6,499 shares of the stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $308.49 per share, for a total transaction of $2,004,876.51. Following the purchase, the director now directly owns 799 shares of the company’s stock, valued at $246,483.51. The disclosure for this purchase can be found here. Insiders sold 160,717 shares of company stock worth $52,621,735 over the last three months. Corporate insiders own 4.29% of the company’s stock.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.93 billion. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The company’s revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.85 earnings per share. On average, analysts forecast that Netflix, Inc. will post 3.25 earnings per share for the current year.
NFLX has been the subject of several recent research reports. Loop Capital raised Netflix from a “hold” rating to a “buy” rating and boosted their price target for the stock from $395.00 to $425.00 in a research report on Monday, June 3rd. Wolfe Research initiated coverage on Netflix in a research report on Thursday, June 20th. They issued an “outperform” rating and a $442.00 price target for the company. Credit Suisse Group set a $440.00 price target on Netflix and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Imperial Capital set a $451.00 price target on Netflix and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, Nomura reduced their price target on Netflix from $320.00 to $310.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $390.58.
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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