First Mercantile Trust Co. Has $1.59 Million Position in Netflix, Inc. (NASDAQ:NFLX)
First Mercantile Trust Co. decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 37.7% during the second quarter, Holdings Channel reports. The fund owned 10,645 shares of the Internet television network’s stock after selling 6,443 shares during the period. First Mercantile Trust Co.’s holdings in Netflix were worth $1,591,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Clean Yield Group bought a new stake in Netflix during the first quarter worth about $103,000. TD Capital Management LLC bought a new stake in Netflix during the second quarter worth about $105,000. SRS Capital Advisors Inc. raised 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 worth $107,000 after buying an additional 706 shares during the last quarter. Harfst & Associates Inc. bought a new stake in Netflix during the first quarter worth about $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised 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 worth $114,000 after buying an additional 150 shares during the last quarter. Institutional investors own 82.78% of the company’s stock.
Netflix, Inc. (NASDAQ NFLX) opened at 171.40 on Friday. The stock has a market capitalization of $74.00 billion, a P/E ratio of 208.52 and a beta of 1.02. Netflix, Inc. has a 52-week low of $93.26 and a 52-week high of $191.50. The company’s 50-day moving average price is $168.76 and its 200 day moving average price is $153.74.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.01. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. Netflix’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. On average, equities research analysts predict that Netflix, Inc. will post $1.19 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on NFLX shares. Raymond James Financial, Inc. restated an “outperform” rating and issued a $205.00 target price (up from $165.00) on shares of Netflix in a research note on Tuesday, July 18th. Guggenheim upped their target price on Netflix from $160.00 to $173.00 and gave the stock a “buy” rating in a research note on Tuesday, April 18th. William Blair restated an “outperform” rating and issued a $165.00 target price on shares of Netflix in a research note on Saturday, April 22nd. Vetr upgraded Netflix from a “sell” rating to a “hold” rating and set a $158.60 target price on the stock in a research note on Monday, May 15th. Finally, Cantor Fitzgerald upped their target price on Netflix from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-eight have assigned a buy rating to the stock. Netflix currently has a consensus rating of “Buy” and a consensus price target of $175.13.
In other Netflix news, insider Gregory K. Peters sold 6,853 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $164.29, for a total transaction of $1,125,879.37. Following the sale, the insider now directly owns 19,943 shares of the company’s stock, valued at approximately $3,276,435.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Reed Hastings sold 101,815 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $157.13, for a total value of $15,998,190.95. Following the sale, the chief executive officer now directly owns 101,815 shares in the company, valued at $15,998,190.95. The disclosure for this sale can be found here. Insiders have sold a total of 389,801 shares of company stock worth $64,889,201 over the last ninety days. 4.90% of the stock is owned by 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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