Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Netflix Inc. (NASDAQ:NFLX) by 102.5% during the second quarter, Holdings Channel reports. The firm owned 8,138 shares of the Internet television network’s stock after buying an additional 4,120 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Netflix were worth $744,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of NFLX. Feltz Wealth PLAN Inc. acquired a new stake in Netflix during the second quarter valued at $202,000. Norinchukin Bank The raised its stake in Netflix by 2.3% in the second quarter. Norinchukin Bank The now owns 22,466 shares of the Internet television network’s stock valued at $2,055,000 after buying an additional 498 shares during the period. Wealthsource Partners LLC raised its stake in Netflix by 8.4% in the second quarter. Wealthsource Partners LLC now owns 2,608 shares of the Internet television network’s stock valued at $239,000 after buying an additional 201 shares during the period. Pax World Management LLC raised its stake in Netflix by 9.1% in the second quarter. Pax World Management LLC now owns 2,401 shares of the Internet television network’s stock valued at $220,000 after buying an additional 200 shares during the period. Finally, Oxford Asset Management acquired a new stake in Netflix during the second quarter valued at $2,467,000. Institutional investors and hedge funds own 78.43% of the company’s stock.
Netflix Inc. (NASDAQ:NFLX) traded up 0.33% on Tuesday, hitting $98.38. 4,253,646 shares of the stock were exchanged. The company has a 50 day moving average of $96.47 and a 200 day moving average of $96.23. The stock has a market capitalization of $42.18 billion, a P/E ratio of 307.44 and a beta of 1.71. Netflix Inc. has a one year low of $79.95 and a one year 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, beating the Zacks’ consensus estimate of $0.02 by $0.07. The firm earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 earnings per share. On average, equities research analysts forecast that Netflix Inc. will post $0.29 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on NFLX shares. Jefferies Group reiterated 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 note on Sunday, August 14th. FBR & Co reiterated a “market perform” rating and set a $90.00 price objective (down previously from $104.00) on shares of Netflix in a research note on Sunday, July 17th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $122.00 price objective on shares of Netflix in a research note on Tuesday, July 12th. Finally, MKM Partners dropped their price objective on shares of Netflix from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Seven equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $110.46.
In other news, Director Richard N. Barton sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $97.86, for a total value of $137,004.00. Following the completion of the transaction, the director now owns 15,562 shares in the company, valued at $1,522,897.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reed Hastings sold 116,431 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the completion of the transaction, the chief executive officer now owns 116,431 shares of the company’s stock, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Netflix Company Profile
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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