Girard Partners LTD. Cuts Holdings in Netflix, Inc. (NFLX)
Girard Partners LTD. lowered its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,388 shares of the Internet television network’s stock after selling 202 shares during the period. Girard Partners LTD.’s holdings in Netflix were worth $650,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in NFLX. Balentine LLC raised its position in Netflix by 1,020.4% during the third quarter. Balentine LLC now owns 549 shares of the Internet television network’s stock worth $100,000 after acquiring an additional 500 shares during the last quarter. Duncker Streett & Co. Inc. raised its position in Netflix by 47.1% during the fourth quarter. Duncker Streett & Co. Inc. now owns 625 shares of the Internet television network’s stock worth $120,000 after acquiring an additional 200 shares during the last quarter. Goodman Financial Corp acquired a new position in Netflix during the fourth quarter worth about $163,000. Steward Partners Investment Advisory LLC acquired a new position in Netflix during the third quarter worth about $171,000. Finally, Grove Bank & Trust raised its position in Netflix by 249.6% during the third quarter. Grove Bank & Trust now owns 958 shares of the Internet television network’s stock worth $174,000 after acquiring an additional 684 shares during the last quarter. Institutional investors own 82.38% of the company’s stock.
NFLX has been the subject of a number of research reports. Loop Capital lifted their target price on shares of Netflix from $228.00 to $242.00 and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Morgan Stanley restated an “overweight” rating and set a $255.00 target price (up previously from $235.00) on shares of Netflix in a research report on Thursday, January 18th. Canaccord Genuity restated a “buy” rating and set a $280.00 target price (up previously from $225.00) on shares of Netflix in a research report on Tuesday, January 23rd. Wells Fargo & Co restated an “outperform” rating and set a $250.00 target price (up previously from $230.00) on shares of Netflix in a research report on Monday, January 8th. Finally, JPMorgan Chase & Co. set a $242.00 target price on shares of Netflix and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Netflix presently has a consensus rating of “Buy” and an average target price of $237.39.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, January 22nd. The Internet television network reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Netflix had a net margin of 4.78% and a return on equity of 17.20%. The firm’s quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. equities analysts predict that Netflix, Inc. will post 2.69 EPS for the current fiscal year.
In related news, Director Richard N. Barton sold 700 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $194.29, for a total value of $136,003.00. Following the sale, the director now directly owns 7,393 shares of the company’s stock, valued at $1,436,385.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Theodore A. Sarandos sold 163,747 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $262.91, for a total transaction of $43,050,723.77. Following the completion of the sale, the insider now directly owns 23,953 shares in the company, valued at $6,297,483.23. The disclosure for this sale can be found here. Insiders sold 459,885 shares of company stock worth $105,163,627 over the last ninety days. 4.90% of the stock is currently owned by corporate insiders.
COPYRIGHT VIOLATION NOTICE: “Girard Partners LTD. Cuts Holdings in Netflix, Inc. (NFLX)” was first published by Daily Political and is the property of of Daily Political. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://www.dailypolitical.com/2018/02/12/girard-partners-ltd-cuts-holdings-in-netflix-inc-nflx.html.
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.
Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX).
Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.