Hudson Canyon Investment Counselors LLC boosted its stake in shares of Netflix Inc. (NASDAQ:NFLX) by 20.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,292 shares of the Internet television network’s stock after buying an additional 2,127 shares during the period. Hudson Canyon Investment Counselors LLC’s holdings in Netflix were worth $1,124,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of NFLX. Cornerstone Advisors Inc. increased its stake in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares in the last quarter. Kistler Tiffany Companies LLC increased its stake in Netflix by 6.0% in the second quarter. Kistler Tiffany Companies LLC now owns 1,704 shares of the Internet television network’s stock valued at $156,000 after buying an additional 96 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in Netflix by 16.4% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,201 shares of the Internet television network’s stock valued at $225,000 after buying an additional 310 shares in the last quarter. Raymond James Trust N.A. increased its stake in Netflix by 11.6% in the second quarter. Raymond James Trust N.A. now owns 2,375 shares of the Internet television network’s stock valued at $217,000 after buying an additional 246 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Netflix during the second quarter valued at approximately $220,000. 78.43% of the stock is owned by institutional investors and hedge funds.
Netflix Inc. (NASDAQ:NFLX) traded up 4.14% on Monday, hitting $102.63. 15,330,437 shares of the stock traded hands. The firm’s 50 day moving average is $97.01 and its 200 day moving average is $96.17. The stock has a market cap of $44.00 billion, a price-to-earnings ratio of 320.72 and a beta of 1.14. Netflix Inc. has a 52 week low of $79.95 and a 52 week high of $133.27.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company earned $2.11 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. Equities analysts anticipate that Netflix Inc. will post $0.29 earnings per share for the current year.
NFLX has been the subject of several analyst reports. Jefferies Group reaffirmed a “hold” rating and set a $120.00 price objective on shares of Netflix in a research note on Monday, July 11th. Cantor Fitzgerald reiterated a “buy” rating on shares of Netflix in a research report on Sunday, August 14th. FBR & Co reiterated a “market perform” rating and set a $90.00 target price (down previously from $104.00) on shares of Netflix in a research report on Sunday, July 17th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $122.00 target price on shares of Netflix in a research report on Tuesday, July 12th. Finally, Vetr cut Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 target price on the stock. in a research report on Wednesday, July 27th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-eight have issued a buy rating to the company. Netflix presently has an average rating of “Hold” and a consensus price target of $110.59.
In related news, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $95.03, for a total value of $66,521.00. Following the completion of the transaction, the director now owns 15,562 shares of the company’s stock, valued at $1,478,856.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jay C. Hoag bought 600,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was acquired at an average cost of $86.43 per share, with a total value of $51,858,000.00. The disclosure for this purchase can be found here. Insiders own 4.90% of the company’s stock.
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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