Netflix, Inc. (NFLX) Stake Increased by BKS Advisors LLC
BKS Advisors LLC increased its position in Netflix, Inc. (NASDAQ:NFLX) by 7.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,578 shares of the Internet television network’s stock after buying an additional 540 shares during the period. BKS Advisors LLC’s holdings in Netflix were worth $1,132,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of NFLX. Fisher Asset Management LLC acquired a new position in Netflix during the first quarter valued at $347,000. Acadian Asset Management LLC boosted its stake in Netflix by 193.5% in the first quarter. Acadian Asset Management LLC now owns 1,676 shares of the Internet television network’s stock valued at $248,000 after buying an additional 1,105 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in Netflix by 13.5% in the first quarter. Glen Harbor Capital Management LLC now owns 7,756 shares of the Internet television network’s stock valued at $1,146,000 after buying an additional 924 shares during the last quarter. Dowling & Yahnke LLC boosted its stake in Netflix by 14.7% in the first quarter. Dowling & Yahnke LLC now owns 6,020 shares of the Internet television network’s stock valued at $890,000 after buying an additional 773 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its stake in Netflix by 1.7% in the first quarter. Wetherby Asset Management Inc. now owns 6,079 shares of the Internet television network’s stock valued at $898,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 81.04% of the company’s stock.
Netflix, Inc. (NFLX) opened at 168.81 on Wednesday. The stock has a market cap of $72.88 billion, a price-to-earnings ratio of 205.36 and a beta of 1.02. Netflix, Inc. has a 12 month low of $93.26 and a 12 month high of $191.50. The stock’s 50 day moving average price is $173.01 and its 200-day moving average price is $155.72.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the business posted $0.09 earnings per share. The business’s revenue was up 32.3% compared to the same quarter last year. Equities analysts expect that Netflix, Inc. will post $1.19 EPS for the current year.
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Several research firms have weighed in on NFLX. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $205.00 price target (up previously from $165.00) on shares of Netflix in a research report on Tuesday, July 18th. Vetr raised Netflix from a “sell” rating to a “hold” rating and set a $158.60 target price on the stock in a report on Monday, May 15th. Cantor Fitzgerald boosted their price target on Netflix from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday, June 6th. MKM Partners boosted their price target on Netflix from $195.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $200.00 price target (up from $175.00) on shares of Netflix in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $178.07.
In other news, insider Gregory K. Peters sold 12,768 shares of Netflix stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $177.38, for a total transaction of $2,264,787.84. Following the completion of the sale, the insider now directly owns 19,208 shares in the company, valued at $3,407,115.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 2,000 shares of Netflix stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $165.72, for a total transaction of $331,440.00. Following the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,327,748.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 373,435 shares of company stock valued at $63,113,931. Insiders own 4.90% of the company’s stock.
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.
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