Oppenheimer & Co. Inc. grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 51,776 shares of the Internet television network’s stock after acquiring an additional 3,007 shares during the period. Oppenheimer & Co. Inc.’s holdings in Netflix were worth $19,371,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of NFLX. Verition Fund Management LLC bought a new stake in Netflix in the first quarter worth $265,000. Summit Trail Advisors LLC boosted its holdings in Netflix by 58.9% in the first quarter. Summit Trail Advisors LLC now owns 2,905 shares of the Internet television network’s stock worth $907,000 after purchasing an additional 1,077 shares in the last quarter. Neville Rodie & Shaw Inc. bought a new stake in Netflix in the second quarter worth $215,000. Clarus Wealth Advisors bought a new stake in Netflix in the second quarter worth $190,000. Finally, CenturyLink Investment Management Co bought a new stake in Netflix in the second quarter worth $641,000. Institutional investors and hedge funds own 74.28% of the company’s stock.
In related news, CEO Reed Hastings sold 77,672 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $323.01, for a total value of $25,088,832.72. Following the completion of the transaction, the chief executive officer now owns 77,672 shares of the company’s stock, valued at $25,088,832.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David B. Wells sold 1,000 shares of the stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $332.67, for a total transaction of $332,670.00. Following the completion of the transaction, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $332,670. The disclosure for this sale can be found here. Insiders have sold 322,155 shares of company stock valued at $109,909,378 in the last ninety days. 4.29% of the stock is owned by company insiders.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, October 16th. The Internet television network reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.21. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.99 billion. Netflix had a net margin of 8.48% and a return on equity of 29.52%. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. Equities analysts predict that Netflix, Inc. will post 2.63 EPS for the current year.
A number of brokerages recently issued reports on NFLX. Cowen decreased their price objective on shares of Netflix from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Tuesday, July 17th. Goldman Sachs Group set a $470.00 price objective on shares of Netflix and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Sanford C. Bernstein reiterated a “buy” rating and issued a $465.00 price objective on shares of Netflix in a report on Wednesday, October 17th. Morgan Stanley set a $480.00 price objective on shares of Netflix and gave the stock a “buy” rating in a report on Thursday, July 12th. Finally, ValuEngine cut shares of Netflix from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 18th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty have issued a buy rating to the stock. Netflix currently has a consensus rating of “Buy” and a consensus price target of $376.71.
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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