Rafferty Asset Management LLC Purchases 1,458 Shares of Netflix, Inc. (NFLX)
Rafferty Asset Management LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,382 shares of the Internet television network’s stock after purchasing an additional 1,458 shares during the quarter. Rafferty Asset Management LLC’s holdings in Netflix were worth $1,402,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Netflix by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 27,161,082 shares of the Internet television network’s stock worth $4,014,680,000 after purchasing an additional 921,283 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Netflix by 1.7% during the 2nd quarter. BlackRock Inc. now owns 25,663,728 shares of the Internet television network’s stock worth $3,834,416,000 after purchasing an additional 423,968 shares in the last quarter. FMR LLC grew its holdings in shares of Netflix by 6.6% during the 1st quarter. FMR LLC now owns 21,027,506 shares of the Internet television network’s stock worth $3,108,076,000 after purchasing an additional 1,305,294 shares in the last quarter. State Street Corp grew its holdings in shares of Netflix by 2.7% during the 1st quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock worth $2,591,946,000 after purchasing an additional 463,143 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Netflix by 14.0% during the 2nd quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock worth $2,208,891,000 after purchasing an additional 1,814,056 shares in the last quarter. 81.03% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on NFLX shares. Instinet reissued a “buy” rating on shares of Netflix in a report on Friday, June 2nd. Sanford C. Bernstein set a $203.00 price objective on Netflix and gave the stock a “buy” rating in a report on Wednesday, August 30th. Canaccord Genuity lifted their price objective on Netflix from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, June 16th. Morgan Stanley reissued an “overweight” rating and set a $185.00 price objective (up previously from $175.00) on shares of Netflix in a report on Thursday, July 13th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Netflix in a report on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $178.90.
In other Netflix news, CEO Reed Hastings sold 109,214 shares of Netflix stock in a transaction on Monday, July 24th. The shares were sold at an average price of $188.61, for a total value of $20,598,852.54. Following the completion of the transaction, the chief executive officer now directly owns 109,214 shares of the company’s stock, valued at approximately $20,598,852.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard N. Barton sold 2,000 shares of Netflix stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $184.30, for a total transaction of $368,600.00. Following the transaction, the director now directly owns 8,012 shares of the company’s stock, valued at $1,476,611.60. The disclosure for this sale can be found here. Insiders sold a total of 311,325 shares of company stock valued at $55,912,478 over the last three months. Corporate insiders own 4.90% of the company’s stock.
Shares of Netflix, Inc. (NASDAQ NFLX) opened at 187.35 on Friday. The company’s 50-day moving average price is $175.28 and its 200-day moving average price is $160.06. Netflix, Inc. has a 12 month low of $93.26 and a 12 month high of $191.50. The firm has a market cap of $80.89 billion, a P/E ratio of 227.92 and a beta of 1.05.
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 analysts’ consensus estimates of $0.16 by ($0.01). Netflix had a return on equity of 12.82% and a net margin of 3.55%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the business earned $0.09 earnings per share. The business’s quarterly revenue was up 32.3% on a year-over-year basis. On average, analysts predict that Netflix, Inc. will post $1.17 EPS for the current year.
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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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