Ballentine Partners LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,497 shares of the Internet television network’s stock after buying an additional 132 shares during the period. Ballentine Partners LLC’s holdings in Netflix were worth $276,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Clean Yield Group bought a new position in Netflix during the first quarter worth about $103,000. TD Capital Management LLC acquired a new stake in shares of Netflix during the second quarter worth approximately $105,000. SRS Capital Advisors Inc. raised 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. acquired a new stake in shares of Netflix during the first quarter worth approximately $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised 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. Institutional investors own 82.94% of the company’s stock.
Shares of Netflix, Inc. (NASDAQ:NFLX) opened at 166.54 on Monday. The firm has a 50-day moving average price of $170.82 and a 200-day moving average price of $154.74. Netflix, Inc. has a 1-year low of $93.26 and a 1-year high of $191.50. The stock has a market capitalization of $71.90 billion, a PE ratio of 202.60 and a beta of 1.02.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The firm’s quarterly revenue was up 32.3% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. On average, equities research analysts forecast that Netflix, Inc. will post $1.19 earnings per share for the current year.
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A number of analysts have commented on NFLX shares. MKM Partners restated a “buy” rating and set a $175.00 price target on shares of Netflix in a research note on Tuesday, April 25th. Canaccord Genuity restated a “buy” rating and set a $165.00 price target on shares of Netflix in a research note on Thursday, May 25th. Loop Capital restated a “buy” rating and set a $180.00 price target (up previously from $172.00) on shares of Netflix in a research note on Tuesday, May 23rd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $170.00 price target on shares of Netflix in a research note on Tuesday, May 2nd. Finally, UBS AG restated a “buy” rating and set a $175.00 price target on shares of Netflix in a research note on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-eight have given a buy rating to the company’s stock. Netflix presently has a consensus rating of “Buy” and an average target price of $175.12.
In other news, Director Richard N. Barton sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $181.37, for a total value of $181,370.00. Following the completion of the sale, the director now directly owns 8,012 shares of the company’s stock, valued at approximately $1,453,136.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leslie J. Kilgore sold 1,078 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $162.00, for a total value of $174,636.00. Following the completion of the sale, the director now directly owns 36,274 shares of the company’s stock, valued at $5,876,388. The disclosure for this sale can be found here. Insiders sold a total of 287,986 shares of company stock valued at $48,891,010 over the last three months. Company insiders own 4.90% of the company’s stock.
About Netflix
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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