McIlrath & Eck LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 34.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 406 shares of the Internet television network’s stock after selling 214 shares during the quarter. McIlrath & Eck LLC’s holdings in Netflix were worth $109,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of NFLX. Lavaca Capital LLC bought a new stake in Netflix during the 3rd quarter valued at approximately $1,472,000. Private Ocean LLC raised its stake in Netflix by 127.5% during the 3rd quarter. Private Ocean LLC now owns 464 shares of the Internet television network’s stock valued at $125,000 after purchasing an additional 260 shares during the period. Eagle Asset Management Inc. raised its stake in Netflix by 12.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 2,303 shares of the Internet television network’s stock valued at $616,000 after purchasing an additional 264 shares during the period. Bourgeon Capital Management LLC bought a new stake in Netflix during the 3rd quarter valued at approximately $54,000. Finally, Glynn Capital Management LLC raised its stake in Netflix by 27.5% during the 3rd quarter. Glynn Capital Management LLC now owns 86,474 shares of the Internet television network’s stock valued at $23,142,000 after purchasing an additional 18,639 shares during the period. 79.29% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Reed Hastings sold 40,061 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $275.64, for a total value of $11,042,414.04. Following the completion of the transaction, the chief executive officer now directly owns 40,061 shares of the company’s stock, valued at approximately $11,042,414.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 135,702 shares of company stock valued at $38,290,015. Corporate insiders own 4.29% of the company’s stock.
Shares of Netflix stock traded up $2.00 on Friday, reaching $291.57. The company had a trading volume of 4,509,000 shares, compared to its average volume of 8,183,516. The firm has a market cap of $126.11 billion, a price-to-earnings ratio of 108.79, a P/E/G ratio of 2.88 and a beta of 1.25. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.73 and a quick ratio of 0.73. Netflix, Inc. has a 1 year low of $231.23 and a 1 year high of $385.99. The firm’s 50-day moving average price is $276.43 and its two-hundred day moving average price is $323.02.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.42. The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.25 billion. Netflix had a return on equity of 23.65% and a net margin of 7.49%. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. As a group, analysts anticipate that Netflix, Inc. will post 3.33 EPS for the current year.
Several brokerages recently issued reports on NFLX. Goldman Sachs Group reissued a “buy” rating and set a $400.00 target price on shares of Netflix in a research note on Thursday, October 17th. Rosenblatt Securities decreased their target price on Netflix from $330.00 to $265.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Bank of America decreased their target price on Netflix from $450.00 to $426.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Guggenheim decreased their target price on Netflix from $420.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, Piper Jaffray Companies cut their price target on Netflix from $440.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $369.54.
Netflix Company Profile
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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