Netflix, Inc. (NFLX) Holdings Reduced by Buckingham Asset Management LLC
Buckingham Asset Management LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 15.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,184 shares of the Internet television network’s stock after selling 390 shares during the quarter. Buckingham Asset Management LLC’s holdings in Netflix were worth $396,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in NFLX. Fox Run Management L.L.C. acquired a new stake in shares of Netflix in the 2nd quarter valued at approximately $254,000. TD Capital Management LLC acquired a new stake in shares of Netflix in the 2nd quarter valued at approximately $105,000. Appleton Partners Inc. MA boosted its stake in shares of Netflix by 8.3% in the 2nd quarter. Appleton Partners Inc. MA now owns 12,515 shares of the Internet television network’s stock valued at $1,870,000 after purchasing an additional 960 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Netflix by 15.0% in the 2nd quarter. Bank of Montreal Can now owns 403,556 shares of the Internet television network’s stock valued at $60,294,000 after purchasing an additional 52,649 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Netflix by 1.9% in the 2nd quarter. Gateway Investment Advisers LLC now owns 259,760 shares of the Internet television network’s stock valued at $38,811,000 after purchasing an additional 4,831 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Netflix, Inc. (NASDAQ NFLX) traded down $2.39 during midday trading on Friday, reaching $193.12. 2,400,000 shares of the company’s stock were exchanged, compared to its average volume of 7,600,000. Netflix, Inc. has a twelve month low of $113.51 and a twelve month high of $204.38. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $83,570.00, a PE ratio of 194.06, a P/E/G ratio of 5.71 and a beta of 1.39.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, October 16th. The Internet television network reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Netflix had a net margin of 4.04% and a return on equity of 14.56%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the business earned $0.12 earnings per share. The firm’s revenue was up 30.3% on a year-over-year basis. sell-side analysts forecast that Netflix, Inc. will post 1.26 earnings per share for the current year.
A number of equities research analysts have recently weighed in on NFLX shares. Vetr downgraded shares of Netflix from a “hold” rating to a “sell” rating and set a $165.09 price target on the stock. in a research note on Wednesday, August 30th. Robert W. Baird restated a “hold” rating and issued a $175.00 price target on shares of Netflix in a research note on Friday, September 1st. Jefferies Group LLC set a $165.00 price target on shares of Netflix and gave the company a “neutral” rating in a research note on Monday, September 18th. KeyCorp restated a “buy” rating and issued a $190.00 price target on shares of Netflix in a research note on Friday, August 25th. Finally, MKM Partners raised their price target on shares of Netflix from $195.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $207.20.
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In other news, CEO Reed Hastings sold 93,380 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $166.07, for a total transaction of $15,507,616.60. Following the completion of the sale, the chief executive officer now owns 93,380 shares of the company’s stock, valued at $15,507,616.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel David A. Hyman sold 63,378 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $198.90, for a total value of $12,605,884.20. Following the sale, the general counsel now directly owns 43,071 shares of the company’s stock, valued at approximately $8,566,821.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 344,072 shares of company stock valued at $63,582,550. 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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