B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 55.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,190 shares of the Internet television network’s stock after selling 7,781 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Netflix were worth $2,423,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Braun Bostich & Associates Inc. purchased a new stake in Netflix during the 1st quarter worth about $142,000. Mackay Shields LLC lifted its holdings in Netflix by 3.0% during the 2nd quarter. Mackay Shields LLC now owns 169,338 shares of the Internet television network’s stock worth $66,284,000 after purchasing an additional 4,917 shares in the last quarter. Iron Financial LLC purchased a new stake in Netflix during the 2nd quarter worth about $579,000. Bristlecone Advisors LLC purchased a new stake in Netflix during the 2nd quarter worth about $424,000. Finally, Kaizen Advisory LLC lifted its holdings in Netflix by 141.0% during the 2nd quarter. Kaizen Advisory LLC now owns 1,012 shares of the Internet television network’s stock worth $396,000 after purchasing an additional 592 shares in the last quarter. 73.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Netflix stock opened at $368.15 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market cap of $154.99 billion, a PE ratio of 294.52, a PEG ratio of 4.44 and a beta of 0.90. Netflix, Inc. has a 12 month low of $176.55 and a 12 month high of $423.21.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, July 16th. The Internet television network reported $0.85 EPS for the quarter, beating the consensus estimate of $0.80 by $0.05. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.94 billion. Netflix had a return on equity of 25.66% and a net margin of 7.13%. The company’s revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 EPS. research analysts forecast that Netflix, Inc. will post 2.67 EPS for the current year.
In related news, insider Gregory K. Peters sold 6,062 shares of the firm’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $400.00, for a total transaction of $2,424,800.00. Following the transaction, the insider now directly owns 19,152 shares in the company, valued at approximately $7,660,800. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO David B. Wells sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $352.27, for a total value of $352,270.00. Following the transaction, the chief financial officer now owns 576 shares in the company, valued at $202,907.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 407,229 shares of company stock worth $148,958,229. 4.29% of the stock is owned by corporate insiders.
A number of brokerages recently issued reports on NFLX. Imperial Capital began coverage on Netflix in a report on Tuesday, June 26th. They set an “outperform” rating and a $503.00 price objective on the stock. Goldman Sachs Group increased their price objective on Netflix to $490.00 and gave the stock a “positive” rating in a report on Wednesday, June 20th. Pivotal Research increased their price objective on Netflix from $420.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. BidaskClub raised Netflix from a “hold” rating to a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $415.00 price objective on shares of Netflix in a report on Tuesday, July 17th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $349.82.
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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