Traynor Capital Management Inc. increased its position in Netflix Inc. (NASDAQ:NFLX) by 4.3% during the second quarter, Holdings Channel reports. The firm owned 33,721 shares of the Internet television network’s stock after buying an additional 1,397 shares during the period. Netflix comprises about 2.6% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 8th largest position. Traynor Capital Management Inc.’s holdings in Netflix were worth $3,301,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Cornerstone Advisors Inc. boosted 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 worth $102,000 after buying an additional 228 shares during the period. Kistler Tiffany Companies LLC boosted 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 worth $156,000 after buying an additional 96 shares during the period. Raymond James Trust N.A. boosted 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 worth $217,000 after buying an additional 246 shares during the period. Fox Run Management L.L.C. bought a new stake in Netflix during the second quarter worth approximately $220,000. Finally, Meiji Yasuda Asset Management Co Ltd. boosted 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 worth $225,000 after buying an additional 310 shares during the period. 78.43% of the stock is currently owned by institutional investors.
Shares of Netflix Inc. (NASDAQ:NFLX) traded up 0.42% during mid-day trading on Wednesday, hitting $97.48. 7,234,289 shares of the stock traded hands. The stock has a market cap of $41.79 billion, a price-to-earnings ratio of 304.63 and a beta of 1.71. Netflix Inc. has a 12 month low of $79.95 and a 12 month high of $133.27. The firm has a 50 day moving average of $96.76 and a 200 day moving average of $96.15.
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. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. Netflix’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. On average, equities analysts expect that Netflix Inc. will post $0.29 EPS for the current fiscal year.
A number of research firms recently commented on NFLX. Morgan Stanley reaffirmed a “buy” rating and issued a $125.00 price target on shares of Netflix in a report on Monday, June 6th. Needham & Company LLC cut shares of Netflix from a “buy” rating to a “hold” rating and lifted their price target for the stock from $95.15 to $96.67 in a report on Tuesday, July 5th. Bank of America Corp. reaffirmed a “buy” rating and issued a $146.00 price target on shares of Netflix in a report on Friday, August 26th. Wedbush lifted their price target on shares of Netflix from $45.00 to $50.00 and gave the stock an “underperform” rating in a report on Tuesday, July 19th. Finally, Vetr cut shares of Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 target price on the stock. in a 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 given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $110.70.
In other Netflix news, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $96.90, for a total transaction of $67,830.00. Following the sale, the director now owns 15,562 shares of the company’s stock, valued at approximately $1,507,957.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 116,431 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 116,431 shares in the company, valued at $10,081,760.29. The disclosure for this sale can be found here. Company 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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