Financial Advocates Investment Management increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,390 shares of the Internet television network’s stock after buying an additional 253 shares during the period. Financial Advocates Investment Management’s holdings in Netflix were worth $4,933,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Resource Management LLC acquired a new position in Netflix during the second quarter worth $290,000. Geneva Partners LLC increased its holdings in Netflix by 13.2% during the second quarter. Geneva Partners LLC now owns 9,559 shares of the Internet television network’s stock worth $3,742,000 after buying an additional 1,115 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in Netflix by 1.1% during the second quarter. Mutual of America Capital Management LLC now owns 56,021 shares of the Internet television network’s stock worth $21,928,000 after buying an additional 630 shares during the last quarter. Fort Pitt Capital Group LLC acquired a new position in Netflix during the second quarter worth $274,000. Finally, Martingale Asset Management L P increased its holdings in Netflix by 54.9% during the second quarter. Martingale Asset Management L P now owns 9,307 shares of the Internet television network’s stock worth $3,644,000 after buying an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 76.75% of the company’s stock.
In related news, CEO Reed Hastings sold 79,800 shares of the company’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $415.15, for a total transaction of $33,128,970.00. Following the completion of the sale, the chief executive officer now owns 79,800 shares of the company’s stock, valued at $33,128,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Theodore A. Sarandos sold 111,391 shares of the company’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $360.00, for a total transaction of $40,100,760.00. Following the sale, the insider now directly owns 16,065 shares of the company’s stock, valued at approximately $5,783,400. The disclosure for this sale can be found here. Insiders have sold 425,802 shares of company stock valued at $155,673,849 in the last ninety days. 4.29% of the stock is currently owned by company insiders.
NFLX stock opened at $338.02 on Wednesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.54 and a current ratio of 1.54. Netflix, Inc. has a 52 week low of $164.73 and a 52 week high of $423.21. The stock has a market capitalization of $137.94 billion, a P/E ratio of 144.65, a price-to-earnings-growth ratio of 3.94 and a beta of 0.76.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 16th. The Internet television network reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.05. Netflix had a net margin of 7.13% and a return on equity of 25.66%. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the company posted $0.15 earnings per share. Netflix’s revenue was up 40.3% compared to the same quarter last year. analysts predict that Netflix, Inc. will post 2.68 EPS for the current year.
Several equities analysts have commented on NFLX shares. Imperial Capital started coverage on shares of Netflix in a report on Tuesday, June 26th. They issued an “outperform” rating and a $503.00 price objective on the stock. Goldman Sachs Group upped their price objective on shares of Netflix to $490.00 and gave the company a “positive” rating in a report on Wednesday, June 20th. Pivotal Research upped their price objective on shares of Netflix from $420.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, June 21st. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $415.00 price objective on shares of Netflix in a report on Tuesday, July 17th. Finally, BidaskClub downgraded shares of Netflix from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirty have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $346.99.
Netflix Company Profile
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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