Netflix, Inc. (NFLX) Stake Reduced by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 237,756 shares of the Internet television network’s stock after selling 7,445 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Netflix were worth $35,523,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NFLX. CENTRAL TRUST Co raised its position in Netflix by 408.4% in the first quarter. CENTRAL TRUST Co now owns 849 shares of the Internet television network’s stock valued at $125,000 after buying an additional 682 shares during the period. Bank of Montreal Can raised its position in Netflix by 26.0% in the first quarter. Bank of Montreal Can now owns 350,907 shares of the Internet television network’s stock valued at $51,870,000 after buying an additional 72,486 shares during the period. Honkamp Krueger Financial Services Inc. acquired a new position in Netflix during the first quarter valued at approximately $209,000. Atria Investments LLC raised its position in Netflix by 37.8% in the first quarter. Atria Investments LLC now owns 4,452 shares of the Internet television network’s stock valued at $658,000 after buying an additional 1,221 shares during the period. Finally, Heritage Investors Management Corp raised its position in Netflix by 6.7% in the first quarter. Heritage Investors Management Corp now owns 1,983 shares of the Internet television network’s stock valued at $293,000 after buying an additional 125 shares during the period. 82.94% of the stock is owned by institutional investors.
Netflix, Inc. (NASDAQ:NFLX) opened at 171.40 on Monday. Netflix, Inc. has a 1-year low of $93.26 and a 1-year high of $191.50. The company’s 50-day moving average is $168.76 and its 200 day moving average is $153.74. The firm has a market capitalization of $74.00 billion, a PE ratio of 208.52 and a beta of 1.02.
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 consensus estimate of $0.16 by $0.01. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the prior year, the business earned $0.09 EPS. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. On average, equities analysts expect that Netflix, Inc. will post $1.19 EPS for the current fiscal year.
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Several research analysts have recently commented on NFLX shares. Instinet reaffirmed a “buy” rating on shares of Netflix in a report on Friday, June 2nd. Canaccord Genuity lifted their price target on shares of Netflix from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, June 16th. Bank of America Corporation reaffirmed a “buy” rating and issued a $184.00 price target (up from $154.00) on shares of Netflix in a report on Tuesday, April 18th. Morgan Stanley reaffirmed an “overweight” rating and issued a $185.00 price target (up from $175.00) on shares of Netflix in a report on Thursday, July 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Netflix in a report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-eight have given a buy rating to the stock. The stock currently has an average 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 firm’s stock in a transaction on 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 completion of the sale, the insider now 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 at the SEC website. Also, CEO Reed Hastings sold 101,815 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were 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 of the company’s stock, valued at approximately $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 valued at $64,889,201 in the last ninety days. Insiders own 4.90% of the company’s stock.
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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