Blair William & Co. IL cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 115,000 shares of the Internet television network’s stock after selling 2,637 shares during the quarter. Blair William & Co. IL’s holdings in Netflix were worth $43,183,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AlphaCore Capital LLC acquired a new position in shares of Netflix during the 1st quarter worth $29,000. Lucia Wealth Services LLC grew its position in shares of Netflix by 325.0% in the 1st quarter. Lucia Wealth Services LLC now owns 85 shares of the Internet television network’s stock valued at $32,000 after buying an additional 65 shares during the last quarter. Great Diamond Partners LLC bought a new stake in shares of Netflix during the 4th quarter valued at about $29,000. Archer Investment Corp bought a new stake in shares of Netflix during the 4th quarter valued at about $30,000. Finally, Shine Investment Advisory Services Inc. raised its stake in Netflix by 296.0% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 99 shares of the Internet television network’s stock worth $37,000 after buying an additional 74 shares during the period. 81.74% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Anne M. Sweeney sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $450.00, for a total value of $675,000.00. Following the completion of the transaction, the director now directly owns 300 shares of the company’s stock, valued at $135,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Reed Hastings sold 53,193 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $449.23, for a total value of $23,895,891.39. Following the completion of the transaction, the chief executive officer now directly owns 53,193 shares of the company’s stock, valued at $23,895,891.39. The disclosure for this sale can be found here. Insiders sold 181,961 shares of company stock valued at $75,572,227 over the last ninety days. Corporate insiders own 4.29% of the company’s stock.
NASDAQ NFLX traded down $6.93 on Friday, hitting $429.32. 5,399,413 shares of the stock traded hands, compared to its average volume of 7,155,619. The business’s fifty day moving average is $415.53 and its two-hundred day moving average is $355.27. Netflix, Inc. has a 12 month low of $252.28 and a 12 month high of $458.97. The firm has a market capitalization of $191.86 billion, a price-to-earnings ratio of 86.91, a PEG ratio of 2.26 and a beta of 0.97. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.82 and a current ratio of 0.82.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, April 21st. The Internet television network reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.07). Netflix had a net margin of 10.43% and a return on equity of 30.83%. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same period last year, the company posted $0.76 earnings per share. Netflix’s revenue for the quarter was up 27.6% on a year-over-year basis. Analysts expect that Netflix, Inc. will post 6.42 EPS for the current fiscal year.
NFLX has been the topic of a number of research reports. Credit Suisse Group upped their price target on Netflix from $440.00 to $465.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Piper Sandler upped their price target on Netflix from $400.00 to $500.00 in a research note on Wednesday, April 22nd. Rosenblatt Securities reaffirmed a “neutral” rating and set a $370.00 price target (up from $275.00) on shares of Netflix in a research note on Thursday, April 16th. Wells Fargo & Co raised Netflix from an “underweight” rating to an “equal weight” rating and set a $460.00 price target on the stock in a research note on Wednesday, April 22nd. Finally, Nomura upped their price target on Netflix from $330.00 to $390.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 22nd. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $432.95.
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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