Quantbot Technologies LP Takes $724,000 Position in Netflix, Inc. (NFLX)
Quantbot Technologies LP purchased a new position in Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,851 shares of the Internet television network’s stock, valued at approximately $724,000.
Other institutional investors have also made changes to their positions in the company. Almanack Investment Partners LLC. bought a new stake in shares of Netflix in the second quarter worth about $101,000. TD Capital Management LLC acquired a new position in shares of Netflix during the second quarter worth about $105,000. Appropriate Balance Financial Services Inc. boosted its position in shares of Netflix by 5.6% during the second quarter. Appropriate Balance Financial Services Inc. now owns 702 shares of the Internet television network’s stock worth $4,701,000 after buying an additional 37 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of Netflix by 3,361.9% during the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock worth $107,000 after buying an additional 706 shares during the period. Finally, Harfst & Associates Inc. acquired a new position in shares of Netflix during the first quarter worth about $109,000. Institutional investors own 81.03% of the company’s stock.
In related news, CEO Reed Hastings sold 75,467 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $185.02, for a total transaction of $13,962,904.34. Following the completion of the sale, the chief executive officer now owns 75,467 shares of the company’s stock, valued at $13,962,904.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Barton sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $187.79, for a total transaction of $187,790.00. Following the sale, the director now directly owns 7,198 shares of the company’s stock, valued at approximately $1,351,712.42. The disclosure for this sale can be found here. Insiders have sold 308,325 shares of company stock valued at $55,447,238 in the last three months. 4.90% of the stock is currently owned by corporate insiders.
Several research firms have recently weighed in on NFLX. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $205.00 price objective (up from $165.00) on shares of Netflix in a research report on Tuesday, July 18th. Cantor Fitzgerald upped their price objective on Netflix from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Vetr raised Netflix from a “strong sell” rating to a “sell” rating and set a $177.49 price objective for the company in a research report on Tuesday, September 19th. MKM Partners upped their price objective on Netflix from $195.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $200.00 price objective (up from $175.00) on shares of Netflix in a research report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $180.01.
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Shares of Netflix, Inc. (NFLX) opened at 181.97 on Thursday. Netflix, Inc. has a 12 month low of $94.04 and a 12 month high of $191.50. The company’s 50 day moving average is $175.28 and its 200 day moving average is $160.06. The company has a market cap of $78.57 billion, a P/E ratio of 221.37 and a beta of 1.05. Netflix also was the recipient of unusually large options trading activity on Monday. Investors acquired 40,539 put options on the stock. This is an increase of approximately 103% compared to the typical volume of 19,944 put options.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 17th. The Internet television network reported $0.15 EPS 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 firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the company earned $0.09 EPS. The company’s revenue was up 32.3% on a year-over-year basis. On average, equities research analysts predict that Netflix, Inc. will post $1.17 EPS for the current fiscal year.
Netflix Company Profile
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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