First Mercantile Trust Co. lessened its position in shares of Netflix (NASDAQ:NFLX) by 31.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,100 shares of the Internet television network’s stock after selling 2,800 shares during the quarter. First Mercantile Trust Co.’s holdings in Netflix were worth $1,802,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. lifted its holdings in Netflix by 710.8% during the first quarter. TCI Wealth Advisors Inc. now owns 527 shares of the Internet television network’s stock valued at $156,000 after purchasing an additional 462 shares in the last quarter. Whittier Trust Co. lifted its holdings in Netflix by 91.4% during the first quarter. Whittier Trust Co. now owns 536 shares of the Internet television network’s stock valued at $158,000 after purchasing an additional 256 shares in the last quarter. Glassman Wealth Services lifted its holdings in Netflix by 298.5% during the first quarter. Glassman Wealth Services now owns 538 shares of the Internet television network’s stock valued at $159,000 after purchasing an additional 403 shares in the last quarter. James Hambro & Partners purchased a new position in Netflix during the fourth quarter valued at $106,000. Finally, Wagner Wealth Management LLC purchased a new position in Netflix during the fourth quarter valued at $125,000. Institutional investors own 81.40% of the company’s stock.
Shares of NFLX opened at $328.19 on Thursday. Netflix has a 1-year low of $325.21 and a 1-year high of $328.70. The stock has a market cap of $141.77 billion, a price-to-earnings ratio of 262.55, a P/E/G ratio of 4.22 and a beta of 0.97. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.63.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, April 16th. The Internet television network reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Netflix had a net margin of 5.26% and a return on equity of 19.11%. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period last year, the business earned $0.40 earnings per share. equities research analysts predict that Netflix will post 2.9 earnings per share for the current fiscal year.
Several equities analysts have issued reports on the stock. Vetr downgraded shares of Netflix from a “hold” rating to a “sell” rating and set a $303.70 price objective on the stock. in a report on Wednesday, April 18th. Zacks Investment Research downgraded shares of Netflix from a “buy” rating to a “hold” rating in a report on Thursday, April 19th. Piper Jaffray increased their price objective on shares of Netflix to $360.00 and gave the company an “overweight” rating in a report on Friday, March 9th. Bank of America increased their price objective on shares of Netflix from $300.00 to $347.00 and gave the company a “buy” rating in a report on Tuesday, April 17th. Finally, BMO Capital Markets increased their price objective on shares of Netflix from $310.00 to $324.00 and gave the company a “market perform” rating in a report on Tuesday, April 17th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirty-two have issued 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 price target of $296.12.
In related news, Director A George Battle sold 10,000 shares of Netflix stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $309.87, for a total value of $3,098,700.00. Following the completion of the transaction, the director now owns 3,269 shares in the company, valued at $1,012,965.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reed Hastings sold 63,889 shares of Netflix stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $282.09, for a total transaction of $18,022,448.01. Following the completion of the transaction, the chief executive officer now owns 63,889 shares of the company’s stock, valued at approximately $18,022,448.01. The disclosure for this sale can be found here. Insiders sold 249,230 shares of company stock valued at $77,215,089 in the last 90 days. Company insiders own 4.29% of the company’s stock.
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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