TRUE Private Wealth Advisors raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,522 shares of the Internet television network’s stock after purchasing an additional 33 shares during the period. TRUE Private Wealth Advisors’ holdings in Netflix were worth $803,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Freedman Financial Associates Inc. bought a new position in shares of Netflix in the 2nd quarter worth $26,000. Stonebridge Capital Advisors LLC bought a new position in shares of Netflix in the 1st quarter worth $33,000. MV Capital Management Inc. raised its position in shares of Netflix by 423.1% in the 2nd quarter. MV Capital Management Inc. now owns 68 shares of the Internet television network’s stock worth $36,000 after acquiring an additional 55 shares in the last quarter. Twin Lakes Capital Management LLC bought a new position in shares of Netflix in the 1st quarter worth $39,000. Finally, Abundance Wealth Counselors bought a new position in shares of Netflix in the 1st quarter worth $52,000. 79.51% of the stock is owned by institutional investors and hedge funds.
NFLX has been the topic of several research analyst reports. KeyCorp dropped their target price on Netflix from $650.00 to $645.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 21st. Jefferies Financial Group initiated coverage on Netflix in a research note on Wednesday, July 21st. They set a “buy” rating and a $620.00 target price on the stock. Atlantic Securities boosted their target price on Netflix from $690.00 to $780.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 7th. JP Morgan Cazenove boosted their price target on Netflix from $625.00 to $705.00 and gave the company an “overweight” rating in a research note on Wednesday, September 8th. Finally, The Goldman Sachs Group assumed coverage on Netflix in a research note on Monday. They set a “neutral” rating and a $590.00 price target on the stock. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $616.79.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 19th. The Internet television network reported $2.97 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.19). Netflix had a net margin of 15.92% and a return on equity of 36.49%. The company had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.32 billion. During the same period in the prior year, the business posted $1.59 EPS. Netflix’s revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Netflix, Inc. will post 10.38 EPS for the current year.
In other news, COO Gregory K. Peters sold 6,941 shares of the firm’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $600.00, for a total transaction of $4,164,600.00. Following the completion of the transaction, the chief operating officer now directly owns 20,031 shares in the company, valued at $12,018,600. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jay C. Hoag sold 8,960 shares of the firm’s stock in a transaction on Wednesday, August 11th. The stock was sold at an average price of $513.41, for a total value of $4,600,153.60. Following the transaction, the director now owns 1,498 shares of the company’s stock, valued at $769,088.18. The disclosure for this sale can be found here. Insiders sold 17,649 shares of company stock valued at $9,729,194 over the last quarter. 3.40% of the stock is currently owned by company insiders.
Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.
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