Prudential Financial Inc. cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 54.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 597,729 shares of the Internet television network’s stock after selling 727,813 shares during the period. Prudential Financial Inc. owned approximately 0.14% of Netflix worth $89,307,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NFLX. Parallel Advisors LLC boosted its position in Netflix by 3.5% in the second quarter. Parallel Advisors LLC now owns 15,561 shares of the Internet television network’s stock valued at $2,827,000 after buying an additional 523 shares during the last quarter. TRUE Private Wealth Advisors acquired a new position in Netflix during the second quarter valued at about $220,000. R. G. Niederhoffer Capital Management Inc. acquired a new position in Netflix during the second quarter valued at about $478,000. Zweig DiMenna Associates LLC boosted its position in Netflix by 255.7% in the second quarter. Zweig DiMenna Associates LLC now owns 115,598 shares of the Internet television network’s stock valued at $17,271,000 after buying an additional 83,098 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in Netflix by 3.0% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,816 shares of the Internet television network’s stock valued at $1,317,000 after buying an additional 260 shares during the last quarter. 82.94% of the stock is owned by institutional investors.
Netflix, Inc. (NASDAQ:NFLX) opened at 165.95 on Friday. Netflix, Inc. has a 52-week low of $93.26 and a 52-week high of $191.50. The company’s 50 day moving average price is $173.01 and its 200 day moving average price is $155.72. The company has a market cap of $71.65 billion, a P/E ratio of 201.89 and a beta of 1.02.
Netflix (NASDAQ:NFLX) last announced 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 return on equity of 12.82% and a net margin of 3.55%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the firm posted $0.09 earnings per share. The firm’s revenue was up 32.3% on a year-over-year basis. Equities research analysts anticipate that Netflix, Inc. will post $1.19 EPS for the current fiscal year.
Several research firms have recently issued reports on NFLX. KeyCorp reissued a “buy” rating and issued a $190.00 price target on shares of Netflix in a research note on Friday. Vetr raised Netflix from a “sell” rating to a “hold” rating and set a $165.09 price target for the company in a research note on Wednesday, August 16th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of Netflix in a research note on Wednesday, August 16th. Piper Jaffray Companies reissued an “overweight” rating and issued a $215.00 price target on shares of Netflix in a research note on Monday, August 14th. Finally, BidaskClub cut Netflix from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have assigned a buy rating to the stock. Netflix presently has an average rating of “Buy” and an average price target of $178.07.
In related news, CEO Reed Hastings sold 115,577 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total value of $17,640,517.51. Following the completion of the transaction, the chief executive officer now directly owns 115,577 shares in the company, valued at $17,640,517.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory K. Peters sold 6,853 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $164.29, for a total transaction of $1,125,879.37. Following the completion of the transaction, the insider now owns 19,943 shares of the company’s stock, valued at $3,276,435.47. The disclosure for this sale can be found here. Insiders sold 378,288 shares of company stock valued at $63,908,370 over the last quarter. 4.90% of the stock is owned by company insiders.
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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