Northwestern Mutual Investment Management Company LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 81.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,342 shares of the Internet television network’s stock after selling 70,663 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Netflix were worth $1,495,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in NFLX. Clean Yield Group bought a new stake in shares of Netflix in the first quarter valued at about $103,000. TD Capital Management LLC purchased a new position in Netflix in the second quarter valued at about $105,000. SRS Capital Advisors Inc. grew its stake in Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after purchasing an additional 706 shares during the last quarter. Harfst & Associates Inc. purchased a new position in Netflix in the first quarter valued at about $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in 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 valued at $114,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 81.05% of the company’s stock.
A number of equities research analysts have recently weighed in on NFLX shares. Raymond James Financial, Inc. restated an “outperform” rating and set a $205.00 price target (up previously from $165.00) on shares of Netflix in a research note on Tuesday, July 18th. Cantor Fitzgerald lifted their target price on Netflix from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, June 6th. Vetr raised Netflix from a “strong sell” rating to a “sell” rating and set a $163.64 target price for the company in a report on Thursday, July 27th. MKM Partners lifted their target price on Netflix from $195.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $200.00 target price (up previously from $175.00) on shares of Netflix in a report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $178.70.
Shares of Netflix, Inc. (NASDAQ:NFLX) opened at 185.15 on Wednesday. Netflix, Inc. has a 52 week low of $93.26 and a 52 week high of $191.50. The firm’s 50-day moving average price is $175.51 and its 200 day moving average price is $158.22. The firm has a market cap of $79.94 billion, a PE ratio of 225.24 and a beta of 1.05.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The firm’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 EPS. Equities analysts anticipate that Netflix, Inc. will post $1.19 EPS for the current year.
In other Netflix news, CEO Reed Hastings sold 115,577 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total transaction of $17,640,517.51. Following the completion of the transaction, the chief executive officer now owns 115,577 shares in the company, valued at $17,640,517.51. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $187.79, for a total transaction of $187,790.00. Following the transaction, the director now owns 7,198 shares of the company’s stock, valued at approximately $1,351,712.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 349,435 shares of company stock valued at $59,221,491. Corporate insiders own 4.90% of the company’s stock.
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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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