Harfst & Associates Inc. Increases Position in Netflix, Inc. (NFLX)
Harfst & Associates Inc. boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 36.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,015 shares of the Internet television network’s stock after buying an additional 273 shares during the period. Harfst & Associates Inc.’s holdings in Netflix were worth $151,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in NFLX. Calamos Advisors LLC grew its position in shares of Netflix by 198.5% during the 2nd quarter. Calamos Advisors LLC now owns 208,945 shares of the Internet television network’s stock worth $31,218,000 after purchasing an additional 138,945 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of Netflix during the 2nd quarter worth approximately $262,000. Guardian Life Insurance Co. of America grew its position in shares of Netflix by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock worth $245,000 after purchasing an additional 11 shares in the last quarter. Teachers Advisors LLC grew its position in shares of Netflix by 2.0% during the 1st quarter. Teachers Advisors LLC now owns 1,300,531 shares of the Internet television network’s stock worth $192,231,000 after purchasing an additional 25,266 shares in the last quarter. Finally, Banco Santander S.A. acquired a new position in shares of Netflix during the 1st quarter worth approximately $43,264,000. Institutional investors and hedge funds own 81.03% of the company’s stock.
A number of research analysts have issued reports on NFLX shares. Instinet restated a “buy” rating on shares of Netflix in a research report on Friday, June 2nd. Sanford C. Bernstein set a $203.00 target price on shares of Netflix and gave the stock a “buy” rating in a research report on Wednesday, August 30th. Canaccord Genuity increased their target price on shares of Netflix from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, June 16th. Morgan Stanley restated an “overweight” rating and set a $185.00 target price (up previously from $175.00) on shares of Netflix in a research report on Thursday, July 13th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $175.00 target price on shares of Netflix in a research report on Friday, June 16th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $178.90.
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Netflix, Inc. (NASDAQ NFLX) traded down 0.76% during mid-day trading on Friday, hitting $187.35. 5,464,312 shares of the stock traded hands. The stock has a market cap of $80.89 billion, a price-to-earnings ratio of 227.92 and a beta of 1.05. The company’s 50 day moving average price is $175.28 and its 200-day moving average price is $160.06. Netflix, Inc. has a 1-year low of $93.26 and a 1-year high of $191.50.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). Netflix had a return on equity of 12.82% and a net margin of 3.55%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter last year, the company earned $0.09 EPS. Netflix’s revenue for the quarter was up 32.3% on a year-over-year basis. Analysts predict that Netflix, Inc. will post $1.17 earnings per share for the current year.
In other Netflix news, CEO Reed Hastings sold 109,214 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $188.61, for a total transaction of $20,598,852.54. Following the sale, the chief executive officer now owns 109,214 shares in the company, valued at approximately $20,598,852.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard N. Barton sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $156.62, for a total transaction of $156,620.00. Following the sale, the director now owns 8,012 shares in the company, valued at approximately $1,254,839.44. The disclosure for this sale can be found here. Insiders sold a total of 311,325 shares of company stock worth $55,912,478 in the last quarter. Company 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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