Peak Capital Management LLC Acquires Shares of 4,185 Netflix, Inc. (NFLX)

Peak Capital Management LLC acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,185 shares of the Internet television network’s stock, valued at approximately $625,000.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Netflix by 3.5% in the first quarter. Vanguard Group Inc. now owns 27,161,082 shares of the Internet television network’s stock valued at $4,014,680,000 after buying an additional 921,283 shares during the last quarter. FMR LLC boosted its stake in Netflix by 6.6% in the first quarter. FMR LLC now owns 21,027,506 shares of the Internet television network’s stock valued at $3,108,076,000 after buying an additional 1,305,294 shares during the last quarter. State Street Corp boosted its stake in Netflix by 2.7% in the first quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock valued at $2,591,946,000 after buying an additional 463,143 shares during the last quarter. Jennison Associates LLC boosted its stake in Netflix by 21.4% in the first quarter. Jennison Associates LLC now owns 12,947,211 shares of the Internet television network’s stock valued at $1,913,727,000 after buying an additional 2,279,835 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in Netflix by 3.2% in the first quarter. Baillie Gifford & Co. now owns 7,593,097 shares of the Internet television network’s stock valued at $1,122,336,000 after buying an additional 234,664 shares during the last quarter. Hedge funds and other institutional investors own 82.77% of the company’s stock.

Netflix, Inc. (NASDAQ NFLX) opened at 188.54 on Friday. The stock has a 50 day moving average of $158.04 and a 200-day moving average of $148.40. The company has a market cap of $81.34 billion, a PE ratio of 229.37 and a beta of 0.98. Netflix, Inc. has a 12-month low of $85.01 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 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The firm’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. On average, equities research analysts anticipate that Netflix, Inc. will post $1.16 earnings per share for the current fiscal year.

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NFLX has been the subject of several research reports. Stifel Nicolaus raised their price objective on shares of Netflix from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, April 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Netflix in a research report on Monday, April 17th. FBR & Co raised their price objective on shares of Netflix from $144.00 to $145.00 and gave the company a “mkt perform” rating in a research report on Tuesday, April 18th. Jefferies Group LLC lifted their price target on shares of Netflix from $135.00 to $141.00 and gave the stock a “hold” rating in a research report on Wednesday, April 19th. Finally, MKM Partners reiterated a “buy” rating and set a $195.00 price target on shares of Netflix in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-nine have given a buy rating to the company’s stock. Netflix currently has a consensus rating of “Buy” and a consensus target price of $169.38.

In other news, General Counsel David A. Hyman sold 14,021 shares of the business’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $150.00, for a total transaction of $2,103,150.00. Following the completion of the transaction, the general counsel now owns 41,629 shares of the company’s stock, valued at $6,244,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 101,815 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $157.13, for a total value of $15,998,190.95. Following the transaction, the chief executive officer now directly owns 101,815 shares of the company’s stock, valued at approximately $15,998,190.95. The disclosure for this sale can be found here. Insiders have sold 343,728 shares of company stock valued at $53,858,193 in the last three months. 4.90% of the stock is owned by insiders.

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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