Cornerstone Advisors Inc. boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,968 shares of the Internet television network’s stock after buying an additional 35 shares during the quarter. Cornerstone Advisors Inc.’s holdings in Netflix were worth $723,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of NFLX. Gradient Investments LLC grew its position in shares of Netflix by 143.1% during the 2nd quarter. Gradient Investments LLC now owns 6,066 shares of the Internet television network’s stock valued at $2,228,000 after buying an additional 3,571 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Netflix by 36,563.5% in the second quarter. Thoroughbred Financial Services LLC now owns 786,432 shares of the Internet television network’s stock valued at $78,643,000 after acquiring an additional 784,287 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Netflix by 8.4% in the second quarter. IFM Investors Pty Ltd now owns 30,822 shares of the Internet television network’s stock valued at $11,322,000 after acquiring an additional 2,385 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Netflix by 23.8% in the second quarter. Sound Income Strategies LLC now owns 868 shares of the Internet television network’s stock valued at $319,000 after acquiring an additional 167 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Netflix by 1.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 46,444 shares of the Internet television network’s stock valued at $17,060,000 after acquiring an additional 702 shares in the last quarter. Institutional investors and hedge funds own 76.94% of the company’s stock.
In other Netflix news, Director Ann Mather sold 1,208 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $375.00, for a total value of $453,000.00. Following the completion of the sale, the director now directly owns 357 shares of the company’s stock, valued at approximately $133,875. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Reed Hastings sold 57,414 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $348.88, for a total transaction of $20,030,596.32. Following the transaction, the chief executive officer now directly owns 57,414 shares of the company’s stock, valued at $20,030,596.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,862 shares of company stock worth $56,966,404. 4.29% of the stock is currently owned by company insiders.
Several research analysts have recently issued reports on the stock. Piper Jaffray Companies reiterated an “overweight” rating and issued a $440.00 price objective on shares of Netflix in a report on Monday, June 17th. Wedbush increased their price objective on shares of Netflix from $183.00 to $188.00 and gave the company an “underperform” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. decreased their price objective on shares of Netflix from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Thursday, July 18th. Goldman Sachs Group decreased their price objective on shares of Netflix from $460.00 to $420.00 in a report on Thursday, July 18th. Finally, Credit Suisse Group set a $440.00 price objective on shares of Netflix and gave the company a “buy” rating in a report on Thursday, July 18th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. Netflix presently has a consensus rating of “Buy” and an average target price of $390.47.
Netflix stock opened at $295.76 on Friday. The firm has a market cap of $136.73 billion, a PE ratio of 110.36, a P/E/G ratio of 3.17 and a beta of 1.23. 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 firm’s 50 day moving average price is $340.56 and its two-hundred day moving average price is $354.07. Netflix, Inc. has a twelve month low of $231.23 and a twelve month high of $386.80.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The firm had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the business earned $0.85 EPS. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. Equities analysts anticipate that Netflix, Inc. will post 3.28 EPS for the current fiscal year.
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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