Netflix, Inc. (NFLX) Stake Decreased by Parkside Advisors LLC
Parkside Advisors LLC cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,054 shares of the Internet television network’s stock after selling 75 shares during the quarter. Parkside Advisors LLC’s holdings in Netflix were worth $282,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. American National Bank increased its position in shares of Netflix by 2.5% during the fourth quarter. American National Bank now owns 17,147 shares of the Internet television network’s stock worth $4,590,000 after buying an additional 411 shares during the period. Global Trust Asset Management LLC acquired a new stake in Netflix in the fourth quarter worth $54,000. New England Research & Management Inc. acquired a new stake in Netflix in the fourth quarter worth $257,000. Kessler Investment Group LLC acquired a new stake in Netflix in the fourth quarter worth $4,287,000. Finally, State of Alaska Department of Revenue grew its holdings in Netflix by 1.6% in the fourth quarter. State of Alaska Department of Revenue now owns 62,992 shares of the Internet television network’s stock worth $16,859,000 after purchasing an additional 995 shares during the period. Institutional investors own 73.97% of the company’s stock.
A number of research firms have commented on NFLX. Goldman Sachs Group set a $470.00 price target on shares of Netflix and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Sanford C. Bernstein restated a “buy” rating and issued a $465.00 price target on shares of Netflix in a report on Wednesday, October 17th. Raymond James reduced their price target on shares of Netflix from $445.00 to $400.00 and set an “outperform” rating for the company in a report on Monday, October 15th. Wedbush raised their price target on shares of Netflix from $125.00 to $150.00 and gave the stock an “underperform” rating in a report on Wednesday, October 17th. Finally, BMO Capital Markets raised their price target on shares of Netflix from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Netflix presently has an average rating of “Buy” and a consensus price target of $365.74.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.21. Netflix had a net margin of 8.48% and a return on equity of 29.52%. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the company posted $0.29 earnings per share. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. On average, equities research analysts expect that Netflix, Inc. will post 2.63 earnings per share for the current year.
In related news, CFO David B. Wells sold 588 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $283.79, for a total transaction of $166,868.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reed Hastings sold 105,868 shares of the firm’s stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $328.75, for a total transaction of $34,804,105.00. Following the sale, the chief executive officer now owns 105,868 shares of the company’s stock, valued at approximately $34,804,105. The disclosure for this sale can be found here. Insiders have sold 289,664 shares of company stock valued at $84,528,831 in the last 90 days. 4.29% of the stock is currently owned by corporate insiders.
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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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