Piedmont Investment Advisors LLC Has $13.11 Million Stake in Netflix, Inc. (NFLX)

Piedmont Investment Advisors LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,774 shares of the Internet television network’s stock after buying an additional 1,169 shares during the period. Piedmont Investment Advisors LLC’s holdings in Netflix were worth $13,114,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its position in shares of Netflix by 0.6% during the second quarter. Quadrant Capital Group LLC now owns 1,684 shares of the Internet television network’s stock valued at $229,000 after buying an additional 10 shares during the period. Guardian Life Insurance Co. of America increased its position in shares of Netflix by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock valued at $245,000 after buying an additional 11 shares during the period. M Holdings Securities Inc. increased its position in shares of Netflix by 0.5% during the first quarter. M Holdings Securities Inc. now owns 2,467 shares of the Internet television network’s stock valued at $365,000 after buying an additional 12 shares during the period. Heritage Investors Management Corp increased its position in shares of Netflix by 0.6% during the second quarter. Heritage Investors Management Corp now owns 1,995 shares of the Internet television network’s stock valued at $298,000 after buying an additional 12 shares during the period. Finally, Kalos Management Inc. increased its position in shares of Netflix by 0.7% during the second quarter. Kalos Management Inc. now owns 1,621 shares of the Internet television network’s stock valued at $242,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 81.02% of the company’s stock.

Shares of Netflix, Inc. (NASDAQ:NFLX) traded up 0.96% during mid-day trading on Friday, hitting $197.75. The stock had a trading volume of 6,550,953 shares. The firm has a 50 day moving average price of $181.96 and a 200 day moving average price of $165.19. The firm has a market cap of $85.38 billion, a PE ratio of 240.57 and a beta of 1.09. Netflix, Inc. has a 52-week low of $98.38 and a 52-week high of $200.82.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). Netflix had a net margin of 3.55% and a return on equity of 12.82%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the firm posted $0.09 EPS. Netflix’s revenue for the quarter was up 32.3% compared to the same quarter last year. Equities analysts predict that Netflix, Inc. will post $1.18 EPS for the current year.

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In other Netflix news, insider Jonathan Friedland sold 2,496 shares of Netflix stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $182.17, for a total value of $454,696.32. Following the sale, the insider now owns 1,232 shares of the company’s stock, valued at approximately $224,433.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leslie J. Kilgore sold 903 shares of Netflix stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $194.00, for a total value of $175,182.00. The disclosure for this sale can be found here. Insiders sold a total of 318,067 shares of company stock worth $57,315,706 in the last ninety days. 4.90% of the stock is owned by corporate insiders.

Several brokerages have issued reports on NFLX. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price (up previously from $200.00) on shares of Netflix in a research note on Friday, October 6th. Wedbush reiterated an “underperform” rating and issued a $180.00 price objective (up previously from $165.00) on shares of Netflix in a research report on Sunday, October 8th. Buckingham Research reiterated a “buy” rating and issued a $214.00 price objective on shares of Netflix in a research report on Monday. Loop Capital boosted their price objective on Netflix from $212.00 to $228.00 and gave the company a “buy” rating in a research report on Monday. Finally, MKM Partners restated a “buy” rating and set a $230.00 target price on shares of Netflix in a report on Monday. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirty have given a buy rating to the stock. Netflix presently has an average rating of “Buy” and a consensus price target of $190.99.

About Netflix

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.

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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