Alliancebernstein L.P. Lowers Stake in Netflix, Inc. (NFLX)
Alliancebernstein L.P. cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 858,682 shares of the Internet television network’s stock after selling 55,318 shares during the quarter. Alliancebernstein L.P. owned about 0.20% of Netflix worth $128,296,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Clean Yield Group bought a new stake in Netflix in the first quarter worth $103,000. TD Capital Management LLC bought a new stake in Netflix in the second quarter worth $105,000. Appropriate Balance Financial Services Inc. lifted its position in Netflix by 5.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 702 shares of the Internet television network’s stock worth $4,701,000 after buying an additional 37 shares during the last quarter. SRS Capital Advisors Inc. lifted its position 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. Finally, Harfst & Associates Inc. bought a new stake in Netflix in the first quarter worth $109,000. Institutional investors own 81.05% of the company’s stock.
NFLX has been the subject of a number of analyst reports. UBS AG restated a “buy” rating and issued a $175.00 price target on shares of Netflix in a research report on Monday, May 15th. Vetr upgraded Netflix from a “hold” rating to a “buy” rating and set a $168.81 price target for the company in a research report on Monday, June 12th. Instinet restated a “buy” rating on shares of Netflix in a research report on Friday, June 2nd. Sanford C. Bernstein restated a “buy” rating and issued a $178.00 price target on shares of Netflix in a research report on Wednesday, May 31st. Finally, MKM Partners restated a “buy” rating and issued a $195.00 price target (up from $175.00) on shares of Netflix in a research report on Monday, May 29th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. Netflix presently has a consensus rating of “Buy” and a consensus target price of $178.23.
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Shares of Netflix, Inc. (NASDAQ:NFLX) opened at 176.42 on Friday. Netflix, Inc. has a 12 month low of $93.26 and a 12 month high of $191.50. The stock has a market capitalization of $76.17 billion, a PE ratio of 214.62 and a beta of 1.05. The company’s 50 day moving average price is $175.71 and its 200 day moving average price is $157.73.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by $0.01. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The firm’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 earnings per share. Equities analysts anticipate that Netflix, Inc. will post $1.19 earnings per share for the current fiscal year.
In related news, CEO Reed Hastings sold 115,577 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $152.63, for a total value of $17,640,517.51. Following the completion of the transaction, the chief executive officer now directly owns 115,577 shares of the company’s stock, valued at approximately $17,640,517.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $154.31, for a total value of $308,620.00. Following the completion of the transaction, the director now directly owns 8,012 shares of the company’s stock, valued at $1,236,331.72. The disclosure for this sale can be found here. Insiders sold a total of 349,435 shares of company stock valued at $59,221,491 over the last three months. 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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