Traynor Capital Management Inc. boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,553 shares of the Internet television network’s stock after buying an additional 2,777 shares during the period. Netflix accounts for about 3.4% of Traynor Capital Management Inc.’s portfolio, making the stock its 7th largest position. Traynor Capital Management Inc.’s holdings in Netflix were worth $6,816,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. increased its position in shares of Netflix by 0.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,134 shares of the Internet television network’s stock valued at $168,000 after buying an additional 9 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in shares of Netflix by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock valued at $245,000 after buying an additional 11 shares during the last quarter. M Holdings Securities Inc. increased its position in shares of Netflix by 0.5% in the first quarter. M Holdings Securities Inc. now owns 2,467 shares of the Internet television network’s stock valued at $365,000 after buying an additional 12 shares during the last quarter. Heritage Investors Management Corp increased its position in shares of Netflix by 0.6% in the second quarter. Heritage Investors Management Corp now owns 1,995 shares of the Internet television network’s stock valued at $298,000 after buying an additional 12 shares during the last quarter. Finally, Northwest Wealth Management LLC increased its position in shares of Netflix by 0.8% in the second quarter. Northwest Wealth Management LLC now owns 1,890 shares of the Internet television network’s stock valued at $282,000 after buying an additional 15 shares during the last quarter. 82.78% of the stock is owned by hedge funds and other institutional investors.
Shares of Netflix, Inc. (NASDAQ NFLX) opened at 171.40 on Friday. Netflix, Inc. has a 52 week low of $93.26 and a 52 week high of $191.50. The stock has a market capitalization of $74.00 billion, a PE ratio of 208.52 and a beta of 1.02. The stock has a 50 day moving average of $168.76 and a 200-day moving average of $153.74.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the 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 during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The business’s revenue for the quarter was up 32.3% on a year-over-year basis. On average, equities research analysts expect that Netflix, Inc. will post $1.19 EPS for the current year.
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Several brokerages have commented on NFLX. UBS AG reissued a “buy” rating and issued a $175.00 price target on shares of Netflix in a report on Wednesday, April 19th. Loop Capital raised their price target on shares of Netflix from $162.00 to $172.00 and gave the company an “outperform” rating in a report on Wednesday, April 19th. BMO Capital Markets reissued a “market perform” rating and issued a $180.00 price target (up from $150.00) on shares of Netflix in a report on Tuesday, July 18th. Needham & Company LLC reissued a “hold” rating on shares of Netflix in a report on Tuesday, July 18th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $199.00 price target (up from $184.00) on shares of Netflix in a report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. Netflix presently has an average rating of “Buy” and an average target price of $175.13.
In related news, insider Gregory K. Peters sold 6,853 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $164.29, for a total value of $1,125,879.37. Following the completion of the transaction, the insider now directly owns 19,943 shares in the company, valued at approximately $3,276,435.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Reed Hastings sold 109,214 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $188.61, for a total transaction of $20,598,852.54. Following the completion of the transaction, the chief executive officer now owns 109,214 shares of the company’s stock, valued at $20,598,852.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 389,801 shares of company stock valued at $64,889,201. Company 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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