Nationwide Fund Advisors Reduces Stake in Netflix, Inc. (NFLX)
Nationwide Fund Advisors lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 15.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 292,358 shares of the Internet television network’s stock after selling 53,721 shares during the period. Nationwide Fund Advisors owned approximately 0.07% of Netflix worth $43,681,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors acquired a new position in shares of Netflix during the second quarter valued at about $139,000. Norinchukin Bank The raised its holdings in shares of Netflix by 6.9% during the second quarter. Norinchukin Bank The now owns 29,910 shares of the Internet television network’s stock valued at $4,469,000 after purchasing an additional 1,940 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Netflix by 47.8% during the second quarter. Ameriprise Financial Inc. now owns 496,301 shares of the Internet television network’s stock valued at $74,150,000 after purchasing an additional 160,582 shares during the period. Teachers Advisors LLC raised its holdings in shares of Netflix by 0.4% during the second quarter. Teachers Advisors LLC now owns 1,306,101 shares of the Internet television network’s stock valued at $195,145,000 after purchasing an additional 5,570 shares during the period. Finally, CWA Asset Management Group LLC acquired a new position in shares of Netflix during the second quarter valued at about $219,000. Hedge funds and other institutional investors own 81.05% of the company’s stock.
In other news, Director Richard N. Barton sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $173.62, for a total value of $173,620.00. Following the transaction, the director now directly owns 8,012 shares in the company, valued at $1,391,043.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $174.44, for a total transaction of $348,880.00. Following the completion of the transaction, the director now owns 8,012 shares in the company, valued at $1,397,613.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 349,435 shares of company stock worth $59,221,491. Company insiders own 4.90% of the company’s stock.
Several equities analysts have recently weighed in on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $180.00 price objective (up previously from $150.00) on shares of Netflix in a report on Tuesday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a report on Tuesday, July 18th. Bank of America Corporation reiterated a “buy” rating and set a $199.00 price objective (up previously from $184.00) on shares of Netflix in a report on Tuesday, July 18th. Vetr raised shares of Netflix from a “sell” rating to a “hold” rating and set a $165.09 target price for the company in a research report on Wednesday, August 16th. Finally, Cantor Fitzgerald boosted their target price on shares of Netflix from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $178.70.
Shares of Netflix, Inc. (NASDAQ NFLX) traded up 0.02% on Thursday, reaching $183.67. 1,659,499 shares of the company were exchanged. Netflix, Inc. has a 52 week low of $93.26 and a 52 week high of $191.50. The company has a market capitalization of $79.30 billion, a price-to-earnings ratio of 223.44 and a beta of 1.05. The company’s 50-day moving average is $175.43 and its 200-day moving average is $158.52.
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 Zacks’ consensus estimate of $0.16 by ($0.01). The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, equities analysts expect that Netflix, Inc. will post $1.19 EPS for the current fiscal year.
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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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