Chevy Chase Trust Holdings Inc. Grows Holdings in Netflix, Inc. (NFLX)
Chevy Chase Trust Holdings Inc. raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378,935 shares of the Internet television network’s stock after purchasing an additional 5,250 shares during the quarter. Chevy Chase Trust Holdings Inc. owned about 0.09% of Netflix worth $68,720,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in NFLX. Almanack Investment Partners LLC. acquired a new stake in shares of Netflix during the second quarter valued at about $101,000. Aviance Capital Management LLC acquired a new stake in shares of Netflix during the second quarter valued at about $137,000. Captrust Financial Advisors acquired a new stake in shares of Netflix during the second quarter valued at about $139,000. Harfst & Associates Inc. grew its stake in shares of Netflix by 36.8% during the second quarter. Harfst & Associates Inc. now owns 1,015 shares of the Internet television network’s stock valued at $151,000 after acquiring an additional 273 shares in the last quarter. Finally, Grove Bank & Trust grew its stake in shares of Netflix by 249.6% during the third quarter. Grove Bank & Trust now owns 958 shares of the Internet television network’s stock valued at $174,000 after acquiring an additional 684 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors.
NFLX has been the subject of several recent analyst reports. Sanford C. Bernstein set a $203.00 target price on Netflix and gave the company a “buy” rating in a research note on Wednesday, August 30th. BidaskClub downgraded Netflix from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Citigroup lifted their price target on Netflix from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Vetr downgraded Netflix from a “sell” rating to a “strong sell” rating and set a $162.49 price target for the company. in a research note on Monday, September 18th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $175.00 price target on shares of Netflix in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $209.65.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.97 billion. Netflix had a net margin of 4.04% and a return on equity of 14.56%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period last year, the firm posted $0.12 EPS. sell-side analysts forecast that Netflix, Inc. will post 1.26 EPS for the current year.
In other news, Director Richard N. Barton sold 2,000 shares of Netflix stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $184.30, for a total transaction of $368,600.00. Following the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,476,611.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Reed Hastings sold 83,335 shares of Netflix stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $192.79, for a total value of $16,066,154.65. Following the sale, the chief executive officer now directly owns 83,335 shares in the company, valued at approximately $16,066,154.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 324,285 shares of company stock worth $62,630,811. Corporate insiders own 4.90% of the company’s stock.
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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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