Tompkins Financial Corp lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 63.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 193 shares of the Internet television network’s stock after selling 333 shares during the quarter. Tompkins Financial Corp’s holdings in Netflix were worth $88,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. BKD Wealth Advisors LLC increased its position in shares of Netflix by 14.6% during the 2nd quarter. BKD Wealth Advisors LLC now owns 1,217 shares of the Internet television network’s stock valued at $554,000 after purchasing an additional 155 shares during the period. Chesley Taft & Associates LLC purchased a new stake in shares of Netflix in the second quarter worth $219,000. Consolidated Capital Management LLC raised its position in shares of Netflix by 6.5% during the 1st quarter. Consolidated Capital Management LLC now owns 13,930 shares of the Internet television network’s stock valued at $5,231,000 after purchasing an additional 846 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Netflix by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 78,336 shares of the Internet television network’s stock valued at $35,646,000 after purchasing an additional 1,814 shares during the period. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Netflix by 24.1% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 170 shares of the Internet television network’s stock valued at $77,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.
A number of brokerages have weighed in on NFLX. Citigroup lifted their target price on Netflix from $350.00 to $450.00 and gave the company a “neutral” rating in a research report on Thursday, May 21st. Benchmark upped their price objective on shares of Netflix from $340.00 to $397.00 and gave the stock a “sell” rating in a research note on Monday, July 13th. Goldman Sachs Group cut their target price on shares of Netflix from $670.00 to $600.00 and set a “conviction-buy” rating on the stock in a research report on Friday, July 17th. Deutsche Bank upped their price target on shares of Netflix from $500.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Finally, Loop Capital lifted their price objective on shares of Netflix from $500.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Netflix presently has a consensus rating of “Hold” and an average target price of $483.56.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 16th. The Internet television network reported $1.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.22). The company had revenue of $6.15 billion during the quarter, compared to analyst estimates of $6.08 billion. Netflix had a net margin of 11.85% and a return on equity of 33.32%. During the same period in the previous year, the firm posted $0.60 earnings per share. As a group, equities analysts anticipate that Netflix, Inc. will post 6.28 EPS for the current fiscal year.
In other Netflix news, insider Gregory K. Peters sold 7,251 shares of the company’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $575.00, for a total value of $4,169,325.00. Following the completion of the transaction, the insider now owns 20,341 shares in the company, valued at $11,696,075. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Anne M. Sweeney sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $450.00, for a total transaction of $675,000.00. Following the completion of the transaction, the director now owns 300 shares of the company’s stock, valued at approximately $135,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,612 shares of company stock valued at $90,145,458. Company insiders own 3.40% 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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