Lord Abbett & CO. LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 27.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 429,026 shares of the Internet television network’s stock after selling 166,100 shares during the period. Lord Abbett & CO. LLC owned 0.10% of Netflix worth $64,101,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Netflix by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 27,950,272 shares of the Internet television network’s stock valued at $4,176,049,000 after buying an additional 789,190 shares during the period. BlackRock Inc. grew its stake in shares of Netflix by 1.7% during the second quarter. BlackRock Inc. now owns 25,663,728 shares of the Internet television network’s stock worth $3,834,416,000 after purchasing an additional 423,968 shares during the period. FMR LLC grew its stake in shares of Netflix by 12.4% during the second quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock worth $3,531,042,000 after purchasing an additional 2,605,731 shares during the period. State Street Corp grew its stake in shares of Netflix by 2.7% during the first quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock worth $2,591,946,000 after purchasing an additional 463,143 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Netflix by 14.0% during the second quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock worth $2,208,891,000 after purchasing an additional 1,814,056 shares during the period. 80.97% of the stock is owned by institutional investors.
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Netflix, Inc. (NFLX) traded up 2.22% on Friday, reaching $199.54. 8,120,171 shares of the company were exchanged. The firm has a 50-day moving average of $188.02 and a 200 day moving average of $168.64. The firm has a market capitalization of $86.28 billion, a P/E ratio of 199.34 and a beta of 1.09. Netflix, Inc. has a 12-month low of $110.68 and a 12-month high of $204.38.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Netflix had a return on equity of 14.56% and a net margin of 4.04%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the business posted $0.12 earnings per share. The firm’s revenue was up 30.3% on a year-over-year basis. On average, equities analysts predict that Netflix, Inc. will post $1.25 earnings per share for the current year.
A number of equities research analysts recently commented on the company. Atlantic Securities set a $235.00 price objective on Netflix and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Needham & Company LLC reaffirmed a “neutral” rating on shares of Netflix in a research note on Thursday, October 19th. SunTrust Banks, Inc. set a $175.00 price objective on Netflix and gave the stock a “hold” rating in a research note on Monday, October 16th. Vetr raised Netflix from a “hold” rating to a “buy” rating and set a $210.19 price objective for the company in a research note on Thursday, October 19th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $165.00 target price (down from $171.80) on shares of Netflix in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $207.20.
In other news, CEO Reed Hastings sold 83,335 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $192.79, for a total transaction of $16,066,154.65. Following the sale, the chief executive officer now directly owns 83,335 shares in the company, valued at approximately $16,066,154.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $181.37, for a total transaction of $181,370.00. Following the sale, the director now owns 8,012 shares in the company, valued at $1,453,136.44. The disclosure for this sale can be found here. Insiders sold 276,409 shares of company stock worth $50,072,727 over the last quarter. Insiders own 4.90% of the company’s stock.
Netflix Company Profile
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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