Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Laurel Wealth Advisors Inc.
Laurel Wealth Advisors Inc. decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,725 shares of the Internet television network’s stock after selling 240 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Netflix were worth $1,368,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Nelson Roberts Investment Advisors LLC boosted its position in Netflix by 600.0% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 84 shares of the Internet television network’s stock valued at $31,000 after purchasing an additional 72 shares during the period. TCG Advisors LP acquired a new position in Netflix during the 1st quarter valued at approximately $36,000. SRS Capital Advisors Inc. acquired a new position in Netflix during the 2nd quarter valued at approximately $39,000. SevenBridge Financial Group LLC boosted its position in Netflix by 66.7% during the 2nd quarter. SevenBridge Financial Group LLC now owns 125 shares of the Internet television network’s stock valued at $46,000 after purchasing an additional 50 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its position in Netflix by 182.0% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock valued at $50,000 after purchasing an additional 91 shares during the period. Institutional investors own 78.95% of the company’s stock.
In other news, CEO Reed Hastings sold 51,898 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $372.89, for a total transaction of $19,352,245.22. Following the sale, the chief executive officer now directly owns 51,898 shares of the company’s stock, valued at $19,352,245.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradford L. Smith bought 6,499 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $308.49 per share, for a total transaction of $2,004,876.51. Following the completion of the transaction, the director now directly owns 799 shares of the company’s stock, valued at $246,483.51. The disclosure for this purchase can be found here. Insiders have sold 160,717 shares of company stock worth $52,621,735 over the last ninety days. 4.29% of the stock is owned by insiders.
Netflix (NASDAQ:NFLX) last announced its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.93 billion. Netflix had a return on equity of 20.88% and a net margin of 6.53%. Netflix’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 earnings per share. On average, equities analysts forecast that Netflix, Inc. will post 3.26 earnings per share for the current year.
A number of research analysts recently issued reports on NFLX shares. Pivotal Research restated a “buy” rating and set a $515.00 price objective (up previously from $500.00) on shares of Netflix in a research report on Wednesday, July 17th. Piper Jaffray Companies restated an “overweight” rating and set a $440.00 price objective on shares of Netflix in a research report on Monday, June 17th. Imperial Capital reduced their price objective on Netflix from $458.00 to $451.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Morgan Stanley set a $450.00 price target on Netflix and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, ValuEngine lowered Netflix from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $391.38.
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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