KBC Group NV decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 23.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,186 shares of the Internet television network’s stock after selling 19,169 shares during the quarter. KBC Group NV’s holdings in Netflix were worth $23,577,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ibex Wealth Advisors bought a new position in Netflix during the second quarter worth about $1,780,000. Alpha Windward LLC boosted its position in Netflix by 102.8% during the second quarter. Alpha Windward LLC now owns 582 shares of the Internet television network’s stock worth $194,000 after purchasing an additional 295 shares during the period. Berman Capital Advisors LLC boosted its position in Netflix by 7.5% during the second quarter. Berman Capital Advisors LLC now owns 972 shares of the Internet television network’s stock worth $356,000 after purchasing an additional 68 shares during the period. Fisher Asset Management LLC boosted its position in Netflix by 26.0% during the second quarter. Fisher Asset Management LLC now owns 913,651 shares of the Internet television network’s stock worth $335,602,000 after purchasing an additional 188,427 shares during the period. Finally, Ascent Wealth Partners LLC boosted its position in Netflix by 5.1% during the second quarter. Ascent Wealth Partners LLC now owns 4,946 shares of the Internet television network’s stock worth $1,817,000 after purchasing an additional 239 shares during the period. Hedge funds and other institutional investors own 77.01% of the company’s stock.
NFLX has been the subject of a number of research reports. Pivotal Research reiterated a “buy” rating and set a $515.00 target price (up previously from $500.00) on shares of Netflix in a research report on Wednesday, July 17th. Citigroup cut their target price on shares of Netflix from $420.00 to $410.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Rosenblatt Securities reiterated a “neutral” rating and set a $370.00 target price (up previously from $350.00) on shares of Netflix in a research report on Wednesday, July 10th. BidaskClub lowered shares of Netflix from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, ValuEngine lowered shares of Netflix from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $391.38.
Shares of NFLX opened at $291.77 on Thursday. The firm’s 50 day simple moving average is $320.22 and its 200 day simple moving average is $350.76. The company has a market capitalization of $129.15 billion, a P/E ratio of 108.87, a P/E/G ratio of 3.01 and a beta of 1.23. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.85. Netflix, Inc. has a 1-year low of $231.23 and a 1-year high of $386.80.
Netflix (NASDAQ:NFLX) last announced its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.93 billion. Netflix had a net margin of 6.53% and a return on equity of 20.88%. Netflix’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. On average, equities analysts anticipate that Netflix, Inc. will post 3.26 earnings per share for the current year.
In related news, CEO Reed Hastings sold 51,898 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $372.89, for a total value of $19,352,245.22. Following the sale, the chief executive officer now directly owns 51,898 shares of the company’s stock, valued at $19,352,245.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bradford L. Smith bought 6,499 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of $308.49 per share, for a total transaction of $2,004,876.51. Following the completion of the purchase, the director now directly owns 799 shares of the company’s stock, valued at $246,483.51. The disclosure for this purchase can be found here. Insiders sold 160,717 shares of company stock worth $52,621,735 over the last ninety days. 4.29% of the stock is currently owned by insiders.
Netflix Company Profile
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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