Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Wetherby Asset Management Inc.
Wetherby Asset Management Inc. boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.9% during the second quarter, Holdings Channel reports. The institutional investor owned 6,499 shares of the Internet television network’s stock after buying an additional 420 shares during the period. Wetherby Asset Management Inc.’s holdings in Netflix were worth $971,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Clean Yield Group purchased a new position in Netflix during the first quarter valued at $103,000. TD Capital Management LLC purchased a new position in Netflix during the second quarter valued at $105,000. SRS Capital Advisors Inc. boosted its position in Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after buying an additional 706 shares in the last quarter. Harfst & Associates Inc. purchased a new position in Netflix during the first quarter valued at $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Netflix by 24.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock valued at $114,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 82.78% of the company’s stock.
Netflix, Inc. (NASDAQ:NFLX) opened at 169.14 on Friday. Netflix, Inc. has a one year low of $93.26 and a one year high of $191.50. The firm has a market cap of $73.03 billion, a PE ratio of 205.77 and a beta of 1.02. The firm’s 50 day moving average price is $168.29 and its 200-day moving average price is $153.50.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. Equities analysts predict that Netflix, Inc. will post $1.19 EPS for the current fiscal year.
Several research firms have weighed in on NFLX. Raymond James Financial, Inc. restated an “outperform” rating and set a $205.00 price target (up previously from $165.00) on shares of Netflix in a report on Tuesday, July 18th. Guggenheim raised their price target on Netflix from $160.00 to $173.00 and gave the company a “buy” rating in a report on Tuesday, April 18th. William Blair reiterated an “outperform” rating and issued a $165.00 target price on shares of Netflix in a report on Saturday, April 22nd. Vetr upgraded Netflix from a “sell” rating to a “hold” rating and set a $158.60 target price for the company in a report on Monday, May 15th. Finally, Cantor Fitzgerald lifted their target price on Netflix from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $174.79.
In related news, insider Gregory K. Peters sold 6,853 shares of Netflix stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $164.29, for a total transaction of $1,125,879.37. Following the completion of the transaction, the insider now directly owns 19,943 shares in the company, valued at approximately $3,276,435.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reed Hastings sold 101,815 shares of Netflix stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $157.13, for a total value of $15,998,190.95. Following the transaction, the chief executive officer now owns 101,815 shares of the company’s stock, valued at $15,998,190.95. The disclosure for this sale can be found here. Insiders have sold a total of 389,801 shares of company stock valued at $64,889,201 over the last 90 days. Insiders own 4.90% of the company’s stock.
Netflix Company Profile
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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