Netflix Inc. (NFLX) Shares Bought by Pitcairn Co.
Pitcairn Co. raised its stake in Netflix Inc. (NASDAQ:NFLX) by 45.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 7,704 shares of the Internet television network’s stock after buying an additional 2,402 shares during the period. Pitcairn Co.’s holdings in Netflix were worth $705,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the company. Cornerstone Advisors Inc. boosted its stake 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 during the last quarter. Kistler Tiffany Companies LLC boosted its stake in shares of Netflix by 6.0% in the second quarter. Kistler Tiffany Companies LLC now owns 1,704 shares of the Internet television network’s stock worth $156,000 after buying an additional 96 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of 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 worth $217,000 after buying an additional 246 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Netflix during the second quarter worth approximately $220,000. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of 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 worth $225,000 after buying an additional 310 shares in the last quarter. 78.43% of the stock is currently owned by institutional investors.
Shares of Netflix Inc. (NASDAQ:NFLX) traded down 3.43% on Wednesday, hitting $94.88. 20,042,236 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $96.62 and its 200 day moving average price is $96.19. Netflix Inc. has a 12-month low of $79.95 and a 12-month high of $133.27. The stock has a market cap of $40.68 billion, a price-to-earnings ratio of 296.50 and a beta of 1.71.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the firm posted $0.06 EPS. Netflix’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities analysts predict that Netflix Inc. will post $0.29 earnings per share for the current fiscal year.
A number of brokerages have recently commented on NFLX. Vetr raised Netflix from a “hold” rating to a “buy” rating and set a $102.90 price target on the stock in a research report on Tuesday. RBC Capital Markets reissued a “buy” rating on shares of Netflix in a research report on Thursday, September 15th. FBR & Co reissued a “market perform” rating and issued a $90.00 price target on shares of Netflix in a research report on Thursday, September 15th. Macquarie cut Netflix from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $133.27 to $85.00 in a research report on Tuesday, September 13th. They noted that the move was a valuation call. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Netflix in a research report on Friday, September 9th. Seven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $110.46.
In other news, Director Richard N. Barton sold 1,400 shares of the firm’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $95.63, for a total value of $133,882.00. Following the completion of the sale, the director now owns 15,562 shares in the company, valued at approximately $1,488,194.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $96.90, for a total transaction of $67,830.00. Following the completion of the sale, the director now owns 15,562 shares of the company’s stock, valued at approximately $1,507,957.80. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.
Netflix Company Profile
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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