Wedbush Securities Inc. Has $370,000 Position in Netflix, Inc. (NFLX)
Wedbush Securities Inc. increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 16.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,475 shares of the Internet television network’s stock after buying an additional 343 shares during the period. Wedbush Securities Inc.’s holdings in Netflix were worth $370,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Netflix by 3.5% in the first quarter. Vanguard Group Inc. now owns 27,161,082 shares of the Internet television network’s stock worth $4,014,680,000 after buying an additional 921,283 shares in the last quarter. FMR LLC boosted its position in Netflix by 6.6% in the first quarter. FMR LLC now owns 21,027,506 shares of the Internet television network’s stock worth $3,108,076,000 after buying an additional 1,305,294 shares in the last quarter. State Street Corp boosted its position in Netflix by 2.7% in the first quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock worth $2,591,946,000 after buying an additional 463,143 shares in the last quarter. Jennison Associates LLC boosted its position in Netflix by 21.4% in the first quarter. Jennison Associates LLC now owns 12,947,211 shares of the Internet television network’s stock worth $1,913,727,000 after buying an additional 2,279,835 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its position in Netflix by 3.2% in the first quarter. Baillie Gifford & Co. now owns 7,593,097 shares of the Internet television network’s stock worth $1,122,336,000 after buying an additional 234,664 shares in the last quarter. 82.94% of the stock is owned by institutional investors and hedge funds.
Shares of Netflix, Inc. (NASDAQ NFLX) opened at 166.09 on Friday. 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 price is $170.35 and its 200 day moving average price is $154.56. The firm has a market capitalization of $71.71 billion, a price-to-earnings ratio of 202.06 and a beta of 1.02.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) 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 company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The business’s revenue for the quarter was up 32.3% compared to the same quarter last year. 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 analysts recently issued reports on NFLX shares. Vetr raised Netflix from a “sell” rating to a “hold” rating and set a $165.75 price target for the company in a report on Thursday, August 10th. MKM Partners reaffirmed a “buy” rating and issued a $195.00 price target on shares of Netflix in a report on Monday, July 10th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Netflix in a report on Wednesday, August 9th. Zacks Investment Research raised Netflix from a “hold” rating to a “buy” rating and set a $173.00 price target for the company in a report on Thursday, July 13th. Finally, Piper Jaffray Companies lifted their price target on Netflix from $166.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $175.12.
In related news, CEO Reed Hastings sold 115,577 shares of the business’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $152.63, for a total transaction of $17,640,517.51. Following the sale, the chief executive officer now directly owns 115,577 shares in the company, valued at approximately $17,640,517.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $157.81, for a total value of $315,620.00. Following the sale, the director now 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 quarter, insiders have sold 389,801 shares of company stock worth $64,889,201. 4.90% of the stock is currently owned by corporate insiders.
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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