First Trust Advisors LP reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,382,411 shares of the Internet television network’s stock after selling 81,495 shares during the quarter. Netflix accounts for approximately 0.7% of First Trust Advisors LP’s holdings, making the stock its 15th biggest position. First Trust Advisors LP owned about 0.32% of Netflix worth $369,961,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in NFLX. Abbrea Capital LLC lifted its holdings in Netflix by 2.4% in the 2nd quarter. Abbrea Capital LLC now owns 1,382 shares of the Internet television network’s stock worth $508,000 after purchasing an additional 32 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Netflix by 2.8% in the 2nd quarter. Lindbrook Capital LLC now owns 1,259 shares of the Internet television network’s stock worth $462,000 after purchasing an additional 34 shares in the last quarter. Cornerstone Advisors Inc. lifted its holdings in Netflix by 1.8% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,968 shares of the Internet television network’s stock worth $723,000 after purchasing an additional 35 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Netflix by 3.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,105 shares of the Internet television network’s stock worth $296,000 after purchasing an additional 35 shares in the last quarter. Finally, Baxter Bros Inc. lifted its holdings in Netflix by 3.0% in the 2nd quarter. Baxter Bros Inc. now owns 1,226 shares of the Internet television network’s stock worth $450,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 79.29% of the company’s stock.
Shares of NASDAQ NFLX traded up $2.00 during mid-day trading on Friday, reaching $291.57. 4,507,433 shares of the company were exchanged, compared to its average volume of 8,183,509. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.81. The stock has a market cap of $126.11 billion, a price-to-earnings ratio of 108.79, a P/E/G ratio of 2.88 and a beta of 1.25. Netflix, Inc. has a 1 year low of $231.23 and a 1 year high of $385.99. The firm has a 50-day moving average of $276.32 and a 200 day moving average of $323.37.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Wednesday, October 16th. The Internet television network reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.42. The firm 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 firm’s quarterly 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. On average, equities analysts forecast that Netflix, Inc. will post 3.33 earnings per share for the current year.
In related news, CEO Reed Hastings sold 40,061 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $275.64, for a total transaction of $11,042,414.04. Following the completion of the sale, the chief executive officer now directly owns 40,061 shares in the company, valued at approximately $11,042,414.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 135,702 shares of company stock valued at $38,290,015 over the last 90 days. 4.29% of the stock is currently owned by company insiders.
A number of research analysts recently commented on the company. UBS Group set a $370.00 price target on Netflix and gave the stock a “buy” rating in a report on Thursday, October 10th. Zacks Investment Research cut Netflix from a “hold” rating to a “sell” rating and set a $295.00 price target on the stock. in a report on Friday, October 11th. Citigroup lowered their price target on Netflix from $420.00 to $410.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Goldman Sachs Group reaffirmed a “buy” rating and set a $400.00 price objective on shares of Netflix in a report on Thursday, October 17th. Finally, Raymond James decreased their price objective on Netflix from $450.00 to $415.00 and set a “strong-buy” rating on the stock in a report on Monday, October 14th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $369.54.
Netflix Company Profile
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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