Avitas Wealth Management LLC increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,104 shares of the Internet television network’s stock after purchasing an additional 341 shares during the quarter. Avitas Wealth Management LLC’s holdings in Netflix were worth $2,169,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace LLP increased its position in Netflix by 5,692.5% during the 1st quarter. Marshall Wace LLP now owns 5,387 shares of the Internet television network’s stock worth $1,921,000 after purchasing an additional 5,294 shares in the last quarter. Bath Savings Trust Co acquired a new stake in Netflix during the 2nd quarter worth approximately $204,000. Fulton Bank N.A. increased its position in Netflix by 16.8% during the 2nd quarter. Fulton Bank N.A. now owns 6,243 shares of the Internet television network’s stock worth $2,293,000 after purchasing an additional 899 shares in the last quarter. Douglas Lane & Associates LLC increased its position in Netflix by 20.2% during the 2nd quarter. Douglas Lane & Associates LLC now owns 998 shares of the Internet television network’s stock worth $367,000 after purchasing an additional 168 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in Netflix by 1.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 22,422 shares of the Internet television network’s stock worth $8,236,000 after purchasing an additional 256 shares in the last quarter. 78.93% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on NFLX shares. Zacks Investment Research downgraded shares of Netflix from a “hold” rating to a “sell” rating and set a $295.00 target price for the company. in a research report on Friday, October 11th. Piper Jaffray Companies dropped their target price on shares of Netflix from $440.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday. Rosenblatt Securities dropped their target price on shares of Netflix from $330.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Aegis dropped their target price on shares of Netflix from $310.00 to $275.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Finally, Raymond James dropped their target price on shares of Netflix from $450.00 to $415.00 and set a “strong-buy” rating for the company in a research report on Monday, October 14th. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $363.11.
Netflix (NASDAQ:NFLX) last released its earnings results on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.42. The company had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Netflix had a return on equity of 23.65% and a net margin of 7.49%. The business’s revenue was up 31.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 3.32 EPS for the current fiscal year.
In other Netflix news, Director Bradford L. Smith bought 6,499 shares of Netflix stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $308.49 per share, for a total transaction of $2,004,876.51. Following the purchase, the director now owns 799 shares in the company, valued at approximately $246,483.51. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Reed Hastings sold 52,269 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $300.10, for a total value of $15,685,926.90. Following the transaction, the chief executive officer now owns 52,269 shares of the company’s stock, valued at $15,685,926.90. The disclosure for this sale can be found here. Corporate insiders own 3.72% of the company’s stock.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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