Picton Mahoney Asset Management cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 38.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,700 shares of the Internet television network’s stock after selling 12,750 shares during the quarter. Picton Mahoney Asset Management’s holdings in Netflix were worth $7,743,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of NFLX. MCF Advisors LLC bought a new stake in Netflix during the third quarter valued at about $108,000. Perennial Advisors LLC raised its holdings in Netflix by 2,021.4% during the third quarter. Perennial Advisors LLC now owns 297 shares of the Internet television network’s stock valued at $111,000 after acquiring an additional 283 shares during the period. CSat Investment Advisory L.P. bought a new stake in Netflix during the second quarter valued at about $117,000. Signature Estate & Investment Advisors LLC bought a new stake in Netflix during the second quarter valued at about $124,000. Finally, BerganKDV Wealth Management LLC bought a new stake in Netflix during the second quarter valued at about $137,000. 74.04% of the stock is currently owned by institutional investors and hedge funds.
In other Netflix news, Director Richard N. Barton sold 387 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $297.88, for a total transaction of $115,279.56. Following the completion of the transaction, the director now owns 7,430 shares in the company, valued at $2,213,248.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David B. Wells sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $311.10, for a total value of $311,100.00. Following the transaction, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $311,100. The disclosure for this sale can be found here. In the last quarter, insiders sold 335,842 shares of company stock valued at $113,900,463. 4.29% of the stock is currently owned by company insiders.
A number of research firms have commented on NFLX. Cowen decreased their price target on Netflix from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Tuesday, July 17th. Goldman Sachs Group set a $470.00 price target on Netflix and gave the company a “buy” rating in a report on Tuesday, October 2nd. Sanford C. Bernstein reissued a “buy” rating and set a $465.00 price target on shares of Netflix in a report on Wednesday, October 17th. ValuEngine cut Netflix from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 18th. Finally, Loop Capital reduced their target price on Netflix to $365.00 and set a “hold” rating on the stock in a report on Tuesday, July 17th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-one have assigned a buy rating to the company’s stock. Netflix currently has a consensus rating of “Buy” and a consensus price target of $378.74.
NFLX opened at $303.47 on Friday. The stock has a market capitalization of $142.82 billion, a P/E ratio of 242.78, a P/E/G ratio of 4.15 and a beta of 1.18. Netflix, Inc. has a 12 month low of $178.38 and a 12 month high of $423.21. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.66.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.21. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.99 billion. Netflix had a return on equity of 29.52% and a net margin of 8.48%. The firm’s revenue was up 34.0% on a year-over-year basis. During the same quarter last year, the business posted $0.29 earnings per share. Analysts anticipate that Netflix, Inc. will post 2.63 earnings per share for the current year.
Netflix Company Profile
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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