Valmark Advisers Inc. raised its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 22.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,285 shares of the Internet television network’s stock after buying an additional 413 shares during the period. Valmark Advisers Inc.’s holdings in Netflix were worth $1,007,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Netflix by 3.4% in the 1st quarter. BlackRock Inc. now owns 28,671,174 shares of the Internet television network’s stock worth $9,905,317,000 after buying an additional 938,849 shares during the last quarter. FMR LLC boosted its stake in Netflix by 0.4% in the first quarter. FMR LLC now owns 23,564,250 shares of the Internet television network’s stock valued at $8,140,977,000 after acquiring an additional 92,075 shares during the last quarter. State Street Corp grew its position in shares of Netflix by 0.4% during the 1st quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock valued at $5,595,196,000 after acquiring an additional 62,507 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Netflix by 305,647.4% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,168,128 shares of the Internet television network’s stock worth $6,681,409,000 after purchasing an additional 15,163,167 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Netflix by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 8,207,971 shares of the Internet television network’s stock worth $2,828,545,000 after purchasing an additional 149,714 shares during the period. Hedge funds and other institutional investors own 79.95% of the company’s stock.
Netflix Stock Performance
NASDAQ:NFLX opened at $403.54 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.29 and a quick ratio of 1.33. The firm has a market cap of $176.62 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.31. The firm’s fifty day moving average price is $400.20 and its 200 day moving average price is $396.45. Netflix, Inc. has a 1-year low of $252.09 and a 1-year high of $485.00.
Netflix (NASDAQ:NFLX – Get Free Report) last issued its earnings results on Wednesday, October 18th. The Internet television network reported $3.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.49 by $0.24. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.54 billion. Netflix had a return on equity of 20.68% and a net margin of 13.82%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.10 EPS. On average, sell-side analysts expect that Netflix, Inc. will post 12.08 EPS for the current year.
Insider Buying and Selling at Netflix
In other news, Chairman Reed Hastings sold 20,188 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $440.16, for a total value of $8,885,950.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, Chairman Reed Hastings sold 20,188 shares of Netflix stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $440.16, for a total value of $8,885,950.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Barton sold 500 shares of Netflix stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $440.36, for a total value of $220,180.00. Following the completion of the sale, the director now directly owns 152 shares of the company’s stock, valued at approximately $66,934.72. The disclosure for this sale can be found here. Insiders have sold 112,760 shares of company stock valued at $48,046,739 over the last quarter. Corporate insiders own 2.45% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Robert W. Baird upgraded Netflix from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $340.00 to $500.00 in a research note on Monday, July 24th. Wells Fargo & Company dropped their price target on shares of Netflix from $500.00 to $460.00 and set an “overweight” rating on the stock in a research note on Monday, October 16th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Thursday, October 19th. Citigroup raised their price target on Netflix from $400.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, June 29th. Finally, Canaccord Genuity Group boosted their price objective on Netflix from $470.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $441.20.
Check Out Our Latest Research Report on Netflix
Netflix Company Profile
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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