Arete Wealth Advisors LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,563 shares of the Internet television network’s stock, valued at approximately $885,000.
A number of other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its stake in shares of Netflix by 13.8% during the 1st quarter. Ameriprise Financial Inc. now owns 879,042 shares of the Internet television network’s stock valued at $303,647,000 after buying an additional 106,371 shares in the last quarter. Trivant Custom Portfolio Group LLC purchased a new position in shares of Netflix during the 1st quarter valued at $104,000. Chelsea Counsel Co. lifted its stake in shares of Netflix by 266.7% during the 1st quarter. Chelsea Counsel Co. now owns 1,100 shares of the Internet television network’s stock valued at $380,000 after buying an additional 800 shares in the last quarter. Titleist Asset Management LLC purchased a new position in shares of Netflix during the 1st quarter valued at $3,837,000. Finally, Border to Coast Pensions Partnership Ltd lifted its stake in Netflix by 20.2% in the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 55,234 shares of the Internet television network’s stock worth $19,082,000 after purchasing an additional 9,285 shares in the last quarter. Hedge funds and other institutional investors own 79.95% of the company’s stock.
Insiders Place Their Bets
In other news, Director Jay C. Hoag sold 4,954 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $422.24, for a total value of $2,091,776.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jay C. Hoag sold 4,954 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $422.24, for a total value of $2,091,776.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy M. Haley sold 1,022 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $450.19, for a total transaction of $460,094.18. The disclosure for this sale can be found here. Insiders have sold 125,377 shares of company stock worth $54,547,674 in the last three months. Corporate insiders own 2.45% of the company’s stock.
Netflix Price Performance
Netflix (NASDAQ:NFLX – Get Free Report) last issued its earnings results on Wednesday, July 19th. The Internet television network reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.44. The business had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $8.29 billion. Netflix had a net margin of 13.22% and a return on equity of 19.76%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.20 EPS. As a group, equities analysts anticipate that Netflix, Inc. will post 11.92 EPS for the current year.
Analysts Set New Price Targets
NFLX has been the topic of several research analyst reports. Jefferies Financial Group boosted their price target on shares of Netflix from $440.00 to $520.00 in a research note on Tuesday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research note on Wednesday, July 26th. StockNews.com initiated coverage on shares of Netflix in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Credit Suisse Group reiterated a “neutral” rating and issued a $370.00 price target on shares of Netflix in a research note on Thursday, July 20th. Finally, Barclays upped their target price on shares of Netflix from $250.00 to $375.00 in a research report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $432.91.
Check Out Our Latest Stock Analysis on Netflix
About Netflix
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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