Oak Harvest Investment Services decreased its stake in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 86.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 678 shares of the Internet television network’s stock after selling 4,269 shares during the period. Oak Harvest Investment Services’ holdings in Netflix were worth $299,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of NFLX. Great Diamond Partners LLC lifted its position in Netflix by 6.9% in the second quarter. Great Diamond Partners LLC now owns 2,499 shares of the Internet television network’s stock valued at $1,101,000 after acquiring an additional 161 shares during the last quarter. Willis Johnson & Associates Inc. increased its position in shares of Netflix by 7.3% during the second quarter. Willis Johnson & Associates Inc. now owns 819 shares of the Internet television network’s stock worth $360,000 after purchasing an additional 56 shares in the last quarter. HM Payson & Co. lifted its holdings in shares of Netflix by 17.2% in the 2nd quarter. HM Payson & Co. now owns 1,463 shares of the Internet television network’s stock valued at $644,000 after purchasing an additional 215 shares during the last quarter. New Mexico Educational Retirement Board boosted its position in shares of Netflix by 4.8% in the 2nd quarter. New Mexico Educational Retirement Board now owns 21,621 shares of the Internet television network’s stock valued at $9,524,000 after purchasing an additional 1,000 shares during the period. Finally, Beacon Financial Advisory LLC acquired a new position in Netflix during the second quarter worth approximately $464,000. 79.95% of the stock is owned by hedge funds and other institutional investors.
Netflix Trading Up 0.7 %
Shares of NFLX traded up $2.70 during mid-day trading on Monday, reaching $382.51. The company had a trading volume of 1,463,995 shares, compared to its average volume of 6,916,102. The stock has a market cap of $169.51 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 1.26 and a beta of 1.29. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $425.36 and a 200-day simple moving average of $387.29. Netflix, Inc. has a fifty-two week low of $211.73 and a fifty-two week high of $485.00.
Netflix (NASDAQ:NFLX – Get Free Report) last posted its quarterly earnings results on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.44. The firm had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $8.29 billion. Netflix had a return on equity of 19.76% and a net margin of 13.22%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.20 earnings per share. On average, sell-side analysts anticipate that Netflix, Inc. will post 11.92 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on NFLX shares. Needham & Company LLC reissued a “hold” rating on shares of Netflix in a report on Wednesday, July 26th. Wolfe Research lifted their price objective on shares of Netflix from $485.00 to $500.00 in a research note on Thursday, July 20th. Wedbush increased their target price on shares of Netflix from $475.00 to $525.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. Bank of America boosted their price target on Netflix from $490.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. Finally, Rosenblatt Securities increased their price objective on Netflix from $358.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $430.12.
Check Out Our Latest Stock Analysis on NFLX
Insider Buying and Selling
In other Netflix news, Director Richard N. Barton sold 500 shares of Netflix stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $443.07, for a total transaction of $221,535.00. Following the transaction, the director now directly owns 152 shares of the company’s stock, valued at $67,346.64. The sale was disclosed in a filing with the SEC, which is available at this link. In other Netflix news, Chairman Reed Hastings sold 17,969 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $440.60, for a total value of $7,917,141.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 500 shares of Netflix stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $443.07, for a total transaction of $221,535.00. Following the sale, the director now owns 152 shares in the company, valued at approximately $67,346.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,377 shares of company stock valued at $54,547,674. 2.45% of the stock is currently owned by corporate insiders.
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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