Netflix, Inc. (NFLX) is Logan Capital Management Inc.’s 7th Largest Position
Logan Capital Management Inc. reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,216 shares of the Internet television network’s stock after selling 4,416 shares during the quarter. Netflix accounts for about 1.8% of Logan Capital Management Inc.’s holdings, making the stock its 7th largest holding. Logan Capital Management Inc.’s holdings in Netflix were worth $24,087,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Almanack Investment Partners LLC. bought a new position in shares of Netflix during the 2nd quarter valued at about $101,000. TD Capital Management LLC purchased a new position in shares of Netflix during the 2nd quarter valued at about $105,000. Appropriate Balance Financial Services Inc. raised its holdings in shares of Netflix by 5.6% during the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 702 shares of the Internet television network’s stock valued at $4,701,000 after buying an additional 37 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Netflix by 3,361.9% during the 1st quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after buying an additional 706 shares in the last quarter. Finally, Harfst & Associates Inc. bought a new stake in Netflix in the 1st quarter worth approximately $109,000. Hedge funds and other institutional investors own 81.03% of the company’s stock.
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Netflix, Inc. (NASDAQ NFLX) traded down 2.02% during mid-day trading on Monday, hitting $177.68. The company had a trading volume of 3,541,740 shares. The company has a 50-day moving average price of $175.28 and a 200 day moving average price of $160.06. The firm has a market capitalization of $76.71 billion, a P/E ratio of 216.16 and a beta of 1.09. Netflix, Inc. has a 12 month low of $96.79 and a 12 month high of $191.50.
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 business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the business earned $0.09 earnings per share. Netflix’s revenue was up 32.3% on a year-over-year basis. Equities analysts forecast that Netflix, Inc. will post $1.17 EPS for the current fiscal year.
In other news, Director Richard N. Barton sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $187.79, for a total value of $187,790.00. Following the completion of the sale, the director now directly owns 7,198 shares in the company, valued at $1,351,712.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard N. Barton sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $169.18, for a total value of $338,360.00. Following the completion of the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,355,470.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 308,325 shares of company stock valued at $55,447,238. 4.90% of the stock is owned by company insiders.
Several analysts have issued reports on the company. Cantor Fitzgerald upped their target price on Netflix from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 6th. Vetr upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $168.81 price target on the stock in a research report on Monday, June 12th. Canaccord Genuity lifted their price target on shares of Netflix from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Netflix in a research note on Friday, June 16th. Finally, BidaskClub lowered shares of Netflix from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. Netflix presently has a consensus rating of “Buy” and a consensus target price of $180.15.
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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