Covenant Asset Management LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,163 shares of the Internet television network’s stock after buying an additional 300 shares during the period. Netflix makes up approximately 1.5% of Covenant Asset Management LLC’s investment portfolio, making the stock its 15th largest position. Covenant Asset Management LLC’s holdings in Netflix were worth $2,266,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Clean Yield Group bought a new stake in shares of Netflix during the first quarter worth $103,000. SRS Capital Advisors Inc. boosted its stake in shares of Netflix by 3,361.9% in 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. Harfst & Associates Inc. bought a new stake in shares of Netflix during the first quarter worth $109,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Netflix by 24.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock worth $114,000 after buying an additional 150 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in shares of Netflix by 408.4% in the first quarter. CENTRAL TRUST Co now owns 849 shares of the Internet television network’s stock worth $125,000 after buying an additional 682 shares during the period. Institutional investors and hedge funds own 82.77% of the company’s stock.
Netflix, Inc. (NASDAQ NFLX) opened at 183.60 on Wednesday. Netflix, Inc. has a 52 week low of $85.01 and a 52 week high of $185.00. The stock has a market cap of $79.13 billion, a price-to-earnings ratio of 237.52 and a beta of 0.98. The firm’s 50 day moving average price is $156.86 and its 200-day moving average price is $147.88. Netflix also was the recipient of unusually large options trading activity on Monday. Traders acquired 105,623 call options on the stock. This represents an increase of 271% compared to the typical daily volume of 28,474 call options.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.01. Netflix had a return on equity of 13.28% and a net margin of 3.55%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. Analysts expect that Netflix, Inc. will post $1.15 EPS for the current year.
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NFLX has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on Netflix from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, April 18th. Royal Bank Of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Netflix in a research note on Monday, April 17th. FBR & Co upped their price objective on Netflix from $144.00 to $145.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, April 18th. Jefferies Group LLC upped their price objective on Netflix from $135.00 to $141.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Finally, MKM Partners restated a “buy” rating and set a $195.00 price objective on shares of Netflix in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $169.38.
In other Netflix news, CEO Reed Hastings sold 91,994 shares of Netflix stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $140.97, for a total transaction of $12,968,394.18. Following the completion of the sale, the chief executive officer now owns 91,994 shares of the company’s stock, valued at approximately $12,968,394.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory K. Peters sold 6,909 shares of Netflix stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $150.02, for a total transaction of $1,036,488.18. Following the sale, the insider now directly owns 19,999 shares of the company’s stock, valued at approximately $3,000,249.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 420,458 shares of company stock worth $64,107,103. Corporate insiders own 4.90% of the company’s stock.
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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