PineBridge Investments L.P. boosted its stake in Netflix Inc. (NASDAQ:NFLX) by 67.6% during the second quarter, Holdings Channel reports. The fund owned 2,589 shares of the Internet television network’s stock after buying an additional 1,044 shares during the period. PineBridge Investments L.P.’s holdings in Netflix were worth $236,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Advisor Partners LLC increased its stake in shares of Netflix by 10.7% in the first quarter. Advisor Partners LLC now owns 6,261 shares of the Internet television network’s stock valued at $640,000 after buying an additional 607 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in shares of Netflix during the first quarter worth approximately $2,142,000. Nikko Asset Management Americas Inc. increased its stake in shares of Netflix by 33.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 2,800 shares of the Internet television network’s stock worth $286,000 after buying an additional 700 shares during the last quarter. Tobam increased its stake in shares of Netflix by 67.1% in the first quarter. Tobam now owns 299,511 shares of the Internet television network’s stock worth $30,619,000 after buying an additional 120,302 shares during the last quarter. Finally, Howard Hughes Medical Institute increased its stake in shares of Netflix by 89.8% in the first quarter. Howard Hughes Medical Institute now owns 10,945 shares of the Internet television network’s stock worth $1,119,000 after buying an additional 5,178 shares during the last quarter. 78.43% of the stock is currently owned by institutional investors.
Netflix Inc. (NASDAQ:NFLX) opened at 95.94 on Monday. The stock’s 50 day moving average is $96.77 and its 200 day moving average is $96.19. Netflix Inc. has a 52 week low of $79.95 and a 52 week high of $133.27. The firm has a market cap of $41.13 billion, a price-to-earnings ratio of 299.81 and a beta of 1.71.
Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. Equities research analysts expect that Netflix Inc. will post $0.29 EPS for the current year.
A number of equities research analysts recently commented on NFLX shares. Jefferies Group restated a “hold” rating and issued a $120.00 price objective on shares of Netflix in a research report on Monday, July 11th. Cantor Fitzgerald restated a “buy” rating on shares of Netflix in a research report on Sunday, August 14th. FBR & Co restated a “market perform” rating and issued a $90.00 price objective (down previously from $104.00) on shares of Netflix in a research report on Sunday, July 17th. Piper Jaffray Cos. restated an “overweight” rating and issued a $122.00 price objective on shares of Netflix in a research report on Tuesday, July 12th. Finally, Vetr downgraded shares of Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 price objective for the company. in a research report on Wednesday, July 27th. Seven research 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 stock. The stock presently has an average rating of “Hold” and a consensus price target of $110.50.
In other news, Director Jay C. Hoag acquired 300,000 shares of Netflix stock in a transaction that occurred on Tuesday, August 9th. The shares were acquired at an average price of $94.31 per share, with a total value of $28,293,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jay C. Hoag acquired 600,000 shares of Netflix stock in a transaction that occurred on Monday, July 25th. The shares were purchased at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The disclosure for this purchase can be found here. 4.90% of the stock is currently owned by insiders.
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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