Parkside Investments LLC Acquires New Stake in Netflix, Inc. (NFLX)
Parkside Investments LLC acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,800 shares of the Internet television network’s stock, valued at approximately $326,000.
A number of other hedge funds have also added to or reduced their stakes in NFLX. Almanack Investment Partners LLC. bought a new stake in shares of Netflix in the 2nd quarter worth about $101,000. TD Capital Management LLC bought a new stake in shares of Netflix in the 2nd quarter worth about $105,000. Aviance Capital Management LLC bought a new stake in shares of Netflix in the 2nd quarter worth about $137,000. Captrust Financial Advisors bought a new stake in shares of Netflix in the 2nd quarter worth about $139,000. Finally, Harbour Capital Advisors LLC lifted its holdings in shares of Netflix by 14,840.7% in the 2nd quarter. Harbour Capital Advisors LLC now owns 20,917 shares of the Internet television network’s stock worth $140,000 after acquiring an additional 20,777 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.
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Several research analysts recently commented on NFLX shares. BidaskClub raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Vetr downgraded shares of Netflix from a “buy” rating to a “hold” rating and set a $164.65 price target on the stock. in a research note on Monday, July 17th. Instinet reaffirmed a “buy” rating and issued a $175.00 price target (up previously from $165.00) on shares of Netflix in a research note on Monday, July 17th. Nomura set a $175.00 price target on shares of Netflix and gave the stock a “buy” rating in a research note on Monday, July 17th. Finally, Sanford C. Bernstein set a $203.00 price target on shares of Netflix and gave the stock a “buy” rating in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and thirty-three have given a buy rating to the company’s stock. Netflix currently has a consensus rating of “Buy” and an average target price of $207.20.
Netflix, Inc. (NASDAQ NFLX) traded down $1.88 during mid-day trading on Monday, hitting $192.02. 6,622,100 shares of the company were exchanged, compared to its average volume of 6,742,400. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.20 and a quick ratio of 1.20. Netflix, Inc. has a 12-month low of $110.68 and a 12-month high of $204.38. The stock has a market capitalization of $84,730.00, a price-to-earnings ratio of 193.96, a price-to-earnings-growth ratio of 5.64 and a beta of 1.39.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). Netflix had a return on equity of 14.56% and a net margin of 4.04%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the previous year, the company posted $0.12 earnings per share. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. sell-side analysts forecast that Netflix, Inc. will post 1.28 earnings per share for the current fiscal year.
In other Netflix news, CFO David B. Wells sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $195.84, for a total value of $195,840.00. Following the transaction, the chief financial officer now directly owns 1,000 shares in the company, valued at $195,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reed Hastings sold 93,380 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $166.07, for a total transaction of $15,507,616.60. Following the completion of the transaction, the chief executive officer now owns 93,380 shares in the company, valued at $15,507,616.60. The disclosure for this sale can be found here. Insiders have sold 342,372 shares of company stock worth $63,255,427 over the last 90 days. Insiders own 4.90% of the company’s stock.
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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