Rhumbline Advisers Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)
Rhumbline Advisers boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 685,093 shares of the Internet television network’s stock after buying an additional 14,308 shares during the period. Rhumbline Advisers’ holdings in Netflix were worth $102,360,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Clean Yield Group purchased a new position in shares of Netflix during the first quarter valued at approximately $103,000. TD Capital Management LLC purchased a new position in shares of Netflix during the second quarter valued at approximately $105,000. SRS Capital Advisors Inc. raised its position in shares of Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after buying an additional 706 shares during the last quarter. Harfst & Associates Inc. purchased a new position in shares of Netflix during the first quarter valued at approximately $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of Netflix by 24.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock valued at $114,000 after buying an additional 150 shares during the last quarter. Institutional investors own 82.78% of the company’s stock.
Netflix, Inc. (NFLX) opened at 171.40 on Friday. The company’s 50-day moving average price is $168.76 and its 200 day moving average price is $153.74. The company 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 52 week low of $93.26 and a 52 week high of $191.50.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The firm’s quarterly revenue was up 32.3% on a year-over-year basis. On average, analysts predict that Netflix, Inc. will post $1.19 EPS for the current year.
NFLX has been the topic of several recent research reports. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $205.00 price target (up previously from $165.00) on shares of Netflix in a report on Tuesday, July 18th. Guggenheim raised their price target on Netflix from $160.00 to $173.00 and gave the stock a “buy” rating in a report on Tuesday, April 18th. William Blair reissued an “outperform” rating and issued a $165.00 price target on shares of Netflix in a report on Saturday, April 22nd. Vetr raised Netflix from a “sell” rating to a “hold” rating and set a $158.60 price target on the stock in a report on Monday, May 15th. Finally, Cantor Fitzgerald raised their price target on Netflix from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. Netflix presently has an average rating of “Buy” and a consensus target price of $175.13.
In other news, CEO Reed Hastings sold 115,577 shares of Netflix stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total value of $17,640,517.51. Following the completion of the sale, the chief executive officer now directly owns 115,577 shares in the company, valued at $17,640,517.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard N. Barton sold 2,000 shares of Netflix stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $157.81, for a total transaction of $315,620.00. Following the completion of the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,264,373.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 389,801 shares of company stock valued at $64,889,201. 4.90% of the stock is owned by company insiders.
Netflix Company Profile
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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