Next Century Growth Investors LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,650 shares of the Internet television network’s stock after selling 64 shares during the period. Next Century Growth Investors LLC’s holdings in Netflix were worth $871,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Freedman Financial Associates Inc. acquired a new position in Netflix during the second quarter worth approximately $26,000. Stonebridge Capital Advisors LLC acquired a new position in Netflix during the first quarter worth approximately $33,000. Evermay Wealth Management LLC acquired a new position in Netflix during the second quarter worth approximately $35,000. MV Capital Management Inc. increased its position in Netflix by 423.1% during the second quarter. MV Capital Management Inc. now owns 68 shares of the Internet television network’s stock worth $36,000 after buying an additional 55 shares during the period. Finally, Twin Lakes Capital Management LLC acquired a new position in Netflix during the first quarter worth approximately $39,000. 79.51% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on NFLX. The Goldman Sachs Group set a $590.00 target price on Netflix in a report on Wednesday. Citigroup boosted their target price on Netflix from $570.00 to $595.00 and gave the company a “neutral” rating in a report on Thursday, September 2nd. Truist Securities boosted their target price on Netflix from $600.00 to $690.00 and gave the company a “buy” rating in a report on Tuesday. JP Morgan Cazenove boosted their target price on Netflix from $625.00 to $705.00 and gave the company an “overweight” rating in a report on Wednesday, September 8th. Finally, Robert W. Baird boosted their target price on Netflix from $650.00 to $680.00 and gave the company an “outperform” rating in a report on Tuesday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $637.32.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 19th. The Internet television network reported $2.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.16 by ($0.19). The company had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.32 billion. Netflix had a return on equity of 36.49% and a net margin of 15.92%. The business’s revenue was up 19.4% compared to the same quarter last year. During the same period last year, the firm earned $1.59 earnings per share. On average, sell-side analysts predict that Netflix, Inc. will post 10.38 EPS for the current year.
In related news, CEO Theodore A. Sarandos sold 69,707 shares of the company’s stock in a transaction on Monday, October 4th. The stock was sold at an average price of $625.00, for a total value of $43,566,875.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 939 shares of the company’s stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $510.16, for a total value of $479,040.24. The disclosure for this sale can be found here. Insiders sold 111,927 shares of company stock valued at $68,562,364 over the last quarter. Insiders own 3.40% of the company’s stock.
Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.
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