Coatue Management LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 21.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,404,316 shares of the Internet television network’s stock after selling 374,347 shares during the period. Netflix comprises 5.6% of Coatue Management LLC’s portfolio, making the stock its 4th biggest holding. Coatue Management LLC owned approximately 0.32% of Netflix worth $639,020,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lincoln National Corp lifted its stake in Netflix by 3.4% in the 1st quarter. Lincoln National Corp now owns 7,577 shares of the Internet television network’s stock valued at $2,845,000 after purchasing an additional 252 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Netflix by 4.6% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 83,141 shares of the Internet television network’s stock worth $31,219,000 after buying an additional 3,665 shares during the period. Victory Capital Management Inc. grew its position in shares of Netflix by 16.4% in the 1st quarter. Victory Capital Management Inc. now owns 388,086 shares of the Internet television network’s stock worth $145,726,000 after buying an additional 54,708 shares during the period. GWM Advisors LLC grew its position in shares of Netflix by 15.5% in the 1st quarter. GWM Advisors LLC now owns 3,295 shares of the Internet television network’s stock worth $1,237,000 after buying an additional 442 shares during the period. Finally, Boston Financial Mangement LLC purchased a new stake in shares of Netflix in the 1st quarter worth about $285,000. Institutional investors and hedge funds own 80.63% of the company’s stock.
A number of research firms have recently weighed in on NFLX. Monness Crespi & Hardt upped their target price on shares of Netflix from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Cowen increased their price objective on shares of Netflix from $535.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. BidaskClub downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research report on Wednesday, August 12th. Deutsche Bank increased their price objective on shares of Netflix from $500.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, Benchmark increased their price objective on shares of Netflix from $397.00 to $425.00 and gave the company a “sell” rating in a research report on Friday. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $486.49.
In other news, CEO Reed Hastings sold 57,260 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $462.40, for a total transaction of $26,477,024.00. Following the sale, the chief executive officer now owns 57,260 shares in the company, valued at $26,477,024. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David A. Hyman sold 26,754 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $505.77, for a total value of $13,531,370.58. Following the sale, the general counsel now owns 38,008 shares in the company, valued at approximately $19,223,306.16. The disclosure for this sale can be found here. Insiders have sold 248,524 shares of company stock worth $121,935,040 in the last 90 days. Insiders own 3.40% of the company’s stock.
NFLX traded down $9.70 on Friday, hitting $516.05. The company had a trading volume of 8,260,064 shares, compared to its average volume of 6,064,160. The stock has a fifty day moving average price of $498.83 and a 200-day moving average price of $433.56. Netflix, Inc. has a 12-month low of $252.28 and a 12-month high of $575.37. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $227.59 billion, a price-to-earnings ratio of 87.02, a P/E/G ratio of 2.74 and a beta of 0.97.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 16th. The Internet television network reported $1.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.22). Netflix had a return on equity of 33.32% and a net margin of 11.85%. The business had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.08 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. Analysts forecast that Netflix, Inc. will post 6.28 EPS for the current fiscal year.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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