Pitcairn Co. increased its position in Netflix, Inc. (NASDAQ:NFLX) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 6,501 shares of the Internet television network’s stock after buying an additional 170 shares during the period. Pitcairn Co.’s holdings in Netflix were worth $971,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Wedbush Securities Inc. raised its position in Netflix by 16.1% in the second quarter. Wedbush Securities Inc. now owns 2,475 shares of the Internet television network’s stock worth $370,000 after buying an additional 343 shares during the last quarter. IFC Holdings Incorporated FL raised its position in Netflix by 39.7% in the second quarter. IFC Holdings Incorporated FL now owns 4,254 shares of the Internet television network’s stock worth $628,000 after buying an additional 1,208 shares during the last quarter. Traynor Capital Management Inc. raised its position in Netflix by 8.0% in the second quarter. Traynor Capital Management Inc. now owns 37,553 shares of the Internet television network’s stock worth $6,816,000 after buying an additional 2,777 shares during the last quarter. Rhumbline Advisers raised its position in Netflix by 2.1% in the second quarter. Rhumbline Advisers now owns 685,093 shares of the Internet television network’s stock worth $102,360,000 after buying an additional 14,308 shares during the last quarter. Finally, First Trust Advisors LP raised its position in Netflix by 1.9% in the second quarter. First Trust Advisors LP now owns 1,882,317 shares of the Internet television network’s stock worth $281,237,000 after buying an additional 34,459 shares during the last quarter. 82.78% of the stock is owned by hedge funds and other institutional investors.

Netflix, Inc. (NASDAQ NFLX) opened at 171.40 on Friday. The stock has a market capitalization of $74.00 billion, a price-to-earnings ratio of 208.52 and a beta of 1.02. Netflix, Inc. has a 12 month low of $93.26 and a 12 month high of $191.50. The stock’s 50 day moving average is $168.76 and its 200-day moving average is $153.74.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the 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 during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business’s revenue was up 32.3% compared to the same quarter last year. On average, equities research analysts expect that Netflix, Inc. will post $1.19 earnings per share for the current year.

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A number of research firms have recently commented on NFLX. BidaskClub lowered Netflix from a “buy” rating to a “hold” rating in a report on Saturday. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $205.00 price target on shares of Netflix in a report on Friday. Vetr raised Netflix from a “sell” rating to a “hold” rating and set a $165.75 price objective for the company in a research note on Thursday. Jefferies Group LLC reissued a “hold” rating on shares of Netflix in a research note on Thursday. Finally, Wedbush reissued a “sell” rating on shares of Netflix in a research note on Wednesday. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $175.13.

In related news, CEO Reed Hastings sold 101,815 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $157.13, for a total transaction of $15,998,190.95. Following the sale, the chief executive officer now directly owns 101,815 shares of the company’s stock, valued at approximately $15,998,190.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $157.81, for a total transaction of $315,620.00. Following the sale, the director now directly owns 8,012 shares in the company, valued at $1,264,373.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 389,801 shares of company stock worth $64,889,201. Company insiders own 4.90% of the company’s stock.

About Netflix

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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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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