Summit X LLC Has $433,000 Stake in Netflix, Inc. (NFLX)

Summit X LLC grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 89.0% in the 3rd quarter, Holdings Channel reports. The firm owned 1,166 shares of the Internet television network’s stock after purchasing an additional 549 shares during the quarter. Summit X LLC’s holdings in Netflix were worth $433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Berkeley Capital Partners LLC increased its position in shares of Netflix by 17.3% in the 2nd quarter. Berkeley Capital Partners LLC now owns 1,008 shares of the Internet television network’s stock valued at $273,000 after acquiring an additional 149 shares during the period. Capstone Financial Advisors Inc. increased its position in shares of Netflix by 17.8% in the 2nd quarter. Capstone Financial Advisors Inc. now owns 1,006 shares of the Internet television network’s stock valued at $394,000 after acquiring an additional 152 shares during the period. Cornerstone Advisors Inc. increased its position in shares of Netflix by 9.6% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,740 shares of the Internet television network’s stock valued at $681,000 after acquiring an additional 153 shares during the period. Cobblestone Capital Advisors LLC NY increased its position in shares of Netflix by 22.1% in the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 855 shares of the Internet television network’s stock valued at $335,000 after acquiring an additional 155 shares during the period. Finally, Sound Income Strategies LLC increased its position in shares of Netflix by 30.6% in the 3rd quarter. Sound Income Strategies LLC now owns 675 shares of the Internet television network’s stock valued at $253,000 after acquiring an additional 158 shares during the period. Hedge funds and other institutional investors own 74.05% of the company’s stock.

Several equities analysts recently issued reports on NFLX shares. UBS Group downgraded Netflix from a “buy” rating to a “neutral” rating and cut their target price for the company from $425.00 to $237.00 in a research report on Wednesday, July 11th. Royal Bank of Canada upped their target price on Netflix to $450.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. Goldman Sachs Group reissued a “$375.13” rating and issued a $470.00 target price on shares of Netflix in a research report on Wednesday, July 18th. Atlantic Securities reissued a “buy” rating and issued a $413.00 target price on shares of Netflix in a research report on Monday, September 3rd. Finally, SunTrust Banks increased their price target on Netflix from $270.00 to $415.00 and gave the stock a “hold” rating in a research report on Friday, July 13th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty have given a buy rating to the company. Netflix presently has a consensus rating of “Buy” and a consensus price target of $377.41.

In related news, insider Kelly Bennett sold 14,000 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $300.00, for a total value of $4,200,000.00. Following the transaction, the insider now directly owns 1,057 shares of the company’s stock, valued at approximately $317,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard N. Barton sold 387 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $297.88, for a total transaction of $115,279.56. Following the completion of the transaction, the director now directly owns 7,430 shares in the company, valued at $2,213,248.40. The disclosure for this sale can be found here. Insiders have sold a total of 336,542 shares of company stock worth $114,178,608 over the last 90 days. Insiders own 4.29% of the company’s stock.

NASDAQ:NFLX opened at $309.10 on Friday. Netflix, Inc. has a 52 week low of $178.38 and a 52 week high of $423.21. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market cap of $134.79 billion, a PE ratio of 247.28, a price-to-earnings-growth ratio of 3.92 and a beta of 1.18.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, October 16th. The Internet television network reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.21. Netflix had a return on equity of 29.52% and a net margin of 8.48%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the firm earned $0.29 EPS. The company’s quarterly revenue was up 34.0% on a year-over-year basis. As a group, analysts expect that Netflix, Inc. will post 2.63 EPS for the current fiscal year.

About Netflix

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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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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