Prospera Financial Services Inc boosted its position in Netflix Inc. (NASDAQ:NFLX) by 247.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,966 shares of the Internet television network’s stock after buying an additional 44,150 shares during the period. Netflix comprises about 1.2% of Prospera Financial Services Inc’s investment portfolio, making the stock its 14th largest position. Prospera Financial Services Inc’s holdings in Netflix were worth $5,669,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. Cornerstone Advisors Inc. boosted its position in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares in the last quarter. Kistler Tiffany Companies LLC boosted its position 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 worth $156,000 after buying an additional 96 shares in the last quarter. Raymond James Trust N.A. boosted its position 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 worth $217,000 after buying an additional 246 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Netflix during the second quarter worth $220,000. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position 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 worth $225,000 after buying an additional 310 shares in the last quarter. Institutional investors and hedge funds own 78.43% of the company’s stock.
Netflix Inc. (NASDAQ:NFLX) traded up 1.00% on Thursday, reaching $95.83. The company’s stock had a trading volume of 11,214,973 shares. The stock has a market cap of $41.08 billion, a price-to-earnings ratio of 299.47 and a beta of 1.71. The firm’s 50-day moving average price is $96.70 and its 200-day moving average price is $96.19. Netflix Inc. has a 52-week low of $79.95 and a 52-week high of $133.27.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. On average, equities analysts expect that Netflix Inc. will post $0.29 earnings per share for the current year.
A number of equities analysts have weighed in on NFLX shares. Jefferies Group restated a “hold” rating and issued a $120.00 price target on shares of Netflix in a report on Monday, July 11th. Cantor Fitzgerald restated a “buy” rating on shares of Netflix in a report on Sunday, August 14th. FBR & Co restated a “market perform” rating and issued a $90.00 price target (down previously from $104.00) on shares of Netflix in a report on Sunday, July 17th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $122.00 target price on shares of Netflix in a research report on Tuesday, July 12th. Finally, MKM Partners cut their target price on Netflix from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have given a buy rating to the stock. Netflix currently has an average rating of “Hold” and an average target price of $110.46.
In other news, CEO Reed Hastings sold 84,665 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $98.47, for a total value of $8,336,962.55. Following the completion of the transaction, the chief executive officer now directly owns 68,065 shares in the company, valued at approximately $6,702,360.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 700 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $95.00, for a total value of $66,500.00. Following the completion of the transaction, the director now owns 15,562 shares of the company’s stock, valued at $1,478,390. The disclosure for this sale can be found here. 4.90% of the stock is 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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