Huntington National Bank Has $14.98 Million Position in Netflix, Inc. (NASDAQ:NFLX)
Huntington National Bank lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,263 shares of the Internet television network’s stock after selling 4,747 shares during the period. Huntington National Bank’s holdings in Netflix were worth $14,981,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Clean Yield Group acquired a new stake in Netflix during the first quarter valued at approximately $103,000. TD Capital Management LLC acquired a new stake in Netflix during the second quarter valued at approximately $105,000. SRS Capital Advisors Inc. increased its stake in Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after buying an additional 706 shares during the last quarter. Harfst & Associates Inc. acquired a new stake in Netflix during the first quarter valued at approximately $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Netflix by 24.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock valued at $114,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 82.82% of the company’s stock.
Netflix, Inc. (NASDAQ NFLX) opened at 188.79 on Wednesday. The company’s 50-day moving average price is $159.42 and its 200 day moving average price is $149.39. The firm has a market capitalization of $81.51 billion, a price-to-earnings ratio of 229.67 and a beta of 0.98. Netflix, Inc. has a 12 month low of $90.10 and a 12 month high of $188.87.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The firm’s quarterly revenue was up 32.3% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. Analysts predict that Netflix, Inc. will post $1.16 EPS for the current year.
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NFLX has been the subject of several research analyst reports. Robert W. Baird reiterated a “neutral” rating and issued a $138.00 price objective on shares of Netflix in a report on Monday, April 3rd. Rosenblatt Securities initiated coverage on Netflix in a report on Tuesday, April 4th. They issued a “neutral” rating and a $150.00 price objective for the company. Piper Jaffray Companies reiterated an “overweight” rating and issued a $166.00 price objective on shares of Netflix in a report on Thursday, April 6th. Pacific Crest reiterated an “overweight” rating and issued a $170.00 price objective on shares of Netflix in a report on Friday, April 7th. Finally, Vetr upgraded Netflix from a “sell” rating to a “hold” rating and set a $139.02 price objective for the company in a report on Monday, April 10th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $173.58.
In other Netflix news, CEO Reed Hastings sold 109,214 shares of Netflix stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $188.61, for a total transaction of $20,598,852.54. Following the completion of the sale, the chief executive officer now directly owns 109,214 shares of the company’s stock, valued at approximately $20,598,852.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gregory K. Peters sold 6,853 shares of Netflix stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $164.29, for a total value of $1,125,879.37. Following the sale, the insider now directly owns 19,943 shares of the company’s stock, valued at $3,276,435.47. The disclosure for this sale can be found here. Insiders have sold a total of 430,801 shares of company stock valued at $71,138,931 over the last ninety days. 4.90% of the stock is owned by company insiders.
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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