Barton Investment Management Sells 4,540 Shares of Netflix, Inc. (NFLX)
Barton Investment Management reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 554,035 shares of the Internet television network’s stock after selling 4,540 shares during the period. Netflix comprises about 32.1% of Barton Investment Management’s investment portfolio, making the stock its biggest position. Barton Investment Management’s holdings in Netflix were worth $207,281,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. CSat Investment Advisory L.P. bought a new position in Netflix during the 2nd quarter valued at about $117,000. Guidant Wealth Advisors lifted its holdings in Netflix by 190.5% during the 2nd quarter. Guidant Wealth Advisors now owns 305 shares of the Internet television network’s stock valued at $121,000 after purchasing an additional 200 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Netflix during the 2nd quarter valued at about $124,000. BerganKDV Wealth Management LLC bought a new position in Netflix during the 2nd quarter valued at about $137,000. Finally, WealthTrust Fairport LLC lifted its holdings in Netflix by 133.3% during the 2nd quarter. WealthTrust Fairport LLC now owns 350 shares of the Internet television network’s stock valued at $137,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.
Several equities analysts recently issued reports on the stock. Cowen cut their price target on shares of Netflix from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Tuesday, July 17th. Goldman Sachs Group set a $470.00 price target on shares of Netflix and gave the company a “buy” rating in a report on Tuesday, October 2nd. Sanford C. Bernstein reissued a “buy” rating and set a $465.00 price target on shares of Netflix in a report on Wednesday, October 17th. Morgan Stanley set a $480.00 price target on shares of Netflix and gave the company a “buy” rating in a report on Thursday, July 12th. Finally, ValuEngine downgraded shares of Netflix from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 18th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-one have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $376.83.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.21. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.99 billion. Netflix had a net margin of 8.48% and a return on equity of 29.52%. Netflix’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 earnings per share. As a group, analysts expect that Netflix, Inc. will post 2.63 EPS for the current year.
In related news, CEO Reed Hastings sold 99,883 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $368.25, for a total transaction of $36,781,914.75. Following the completion of the transaction, the chief executive officer now owns 99,883 shares in the company, valued at $36,781,914.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy M. Haley sold 21,882 shares of the business’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $336.41, for a total transaction of $7,361,323.62. Following the transaction, the director now owns 9,177 shares of the company’s stock, valued at approximately $3,087,234.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,287 shares of company stock valued at $74,795,101. 4.29% of the stock is currently owned by insiders.
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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