Stratos Wealth Partners LTD. Boosts Stake in Netflix, Inc. (NFLX)
Stratos Wealth Partners LTD. increased its position in Netflix, Inc. (NASDAQ:NFLX) by 11.3% during the first quarter, Holdings Channel reports. The fund owned 8,241 shares of the Internet television network’s stock after buying an additional 834 shares during the period. Stratos Wealth Partners LTD.’s holdings in Netflix were worth $1,218,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in NFLX. Principal Financial Group Inc. boosted its stake in Netflix by 1.9% in the first quarter. Principal Financial Group Inc. now owns 626,531 shares of the Internet television network’s stock valued at $92,608,000 after buying an additional 11,451 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in Netflix by 1.6% in the first quarter. OppenheimerFunds Inc. now owns 7,528 shares of the Internet television network’s stock valued at $1,113,000 after buying an additional 117 shares in the last quarter. HCR Wealth Advisors boosted its stake in Netflix by 11.1% in the first quarter. HCR Wealth Advisors now owns 2,749 shares of the Internet television network’s stock valued at $406,000 after buying an additional 275 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Netflix by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 15,080 shares of the Internet television network’s stock valued at $2,229,000 after buying an additional 130 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC acquired a new stake in Netflix during the first quarter valued at approximately $220,000. Institutional investors and hedge funds own 82.78% of the company’s stock.
Netflix, Inc. (NASDAQ:NFLX) traded up 0.41% during midday trading on Friday, reaching $152.38. The company had a trading volume of 6,909,705 shares. The firm has a market capitalization of $65.67 billion, a P/E ratio of 197.13 and a beta of 0.96. The stock’s 50 day moving average price is $158.44 and its 200-day moving average price is $142.71. Netflix, Inc. has a one year low of $84.50 and a one year high of $166.87.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, April 17th. The Internet television network reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Netflix had a net margin of 3.55% and a return on equity of 12.73%. The business’s revenue was up 34.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 EPS. On average, equities research analysts anticipate that Netflix, Inc. will post $1.04 earnings per share for the current year.
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Several analysts recently commented on the company. BidaskClub cut Netflix from a “buy” rating to a “hold” rating in a research report on Saturday. Vetr cut Netflix from a “strong-buy” rating to a “buy” rating and set a $168.56 target price on the stock. in a research report on Monday. Royal Bank Of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Netflix in a research report on Friday. Canaccord Genuity raised their target price on Netflix from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday. Finally, Cantor Fitzgerald raised their target price on Netflix from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $148.44.
In other news, CEO Reed Hastings sold 89,502 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $145.66, for a total transaction of $13,036,861.32. Following the transaction, the chief executive officer now directly owns 89,502 shares of the company’s stock, valued at $13,036,861.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $163.47, for a total transaction of $326,940.00. Following the transaction, the director now directly owns 7,652 shares in the company, valued at $1,250,872.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 404,383 shares of company stock worth $60,894,497. Insiders own 4.90% of the company’s stock.
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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