CIBC Private Wealth Group LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,160 shares of the Internet television network’s stock after buying an additional 253 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Netflix were worth $4,325,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in NFLX. Marshall Wace LLP raised its stake in shares of Netflix by 5,692.5% during the 1st quarter. Marshall Wace LLP now owns 5,387 shares of the Internet television network’s stock worth $1,921,000 after buying an additional 5,294 shares during the last quarter. Bath Savings Trust Co purchased a new stake in Netflix during the 2nd quarter worth about $204,000. Fulton Bank N.A. increased its position in Netflix by 16.8% during the 2nd quarter. Fulton Bank N.A. now owns 6,243 shares of the Internet television network’s stock worth $2,293,000 after purchasing an additional 899 shares in the last quarter. Douglas Lane & Associates LLC increased its position in Netflix by 20.2% during the 2nd quarter. Douglas Lane & Associates LLC now owns 998 shares of the Internet television network’s stock worth $367,000 after purchasing an additional 168 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in Netflix by 1.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 22,422 shares of the Internet television network’s stock worth $8,236,000 after purchasing an additional 256 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on NFLX shares. Rosenblatt Securities dropped their price objective on Netflix from $330.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Wedbush reiterated an “underperform” rating and set a $188.00 price objective on shares of Netflix in a research report on Thursday. BMO Capital Markets dropped their price objective on Netflix from $470.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Citigroup dropped their price objective on Netflix from $420.00 to $410.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $363.11.
In other news, Director Bradford L. Smith acquired 6,499 shares of Netflix stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of $308.49 per share, with a total value of $2,004,876.51. Following the purchase, the director now directly owns 799 shares of the company’s stock, valued at approximately $246,483.51. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Reed Hastings sold 43,372 shares of Netflix stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $266.57, for a total value of $11,561,674.04. Following the completion of the transaction, the chief executive officer now directly owns 43,372 shares in the company, valued at $11,561,674.04. The disclosure for this sale can be found here. Insiders sold a total of 150,983 shares of company stock worth $44,378,164 over the last ninety days. Corporate insiders own 4.29% of the company’s stock.
NFLX opened at $275.30 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.73 and a quick ratio of 0.85. The stock has a market capitalization of $128.44 billion, a price-to-earnings ratio of 102.72, a price-to-earnings-growth ratio of 3.02 and a beta of 1.20. The business has a 50-day moving average of $280.59 and a two-hundred day moving average of $331.30. Netflix, Inc. has a 12 month low of $231.23 and a 12 month high of $385.99.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, beating the consensus estimate of $1.05 by $0.42. The company had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Netflix had a return on equity of 23.65% and a net margin of 7.49%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. Equities research analysts anticipate that Netflix, Inc. will post 3.24 earnings per share for the current year.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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