Cetera Advisors LLC raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,833 shares of the Internet television network’s stock after purchasing an additional 297 shares during the period. Cetera Advisors LLC’s holdings in Netflix were worth $4,228,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers raised its position in shares of Netflix by 32.1% in the 1st quarter. Cetera Investment Advisers now owns 3,526 shares of the Internet television network’s stock worth $1,259,000 after purchasing an additional 856 shares during the last quarter. First Allied Advisory Services Inc. lifted its holdings in Netflix by 1.6% in the 1st quarter. First Allied Advisory Services Inc. now owns 25,114 shares of the Internet television network’s stock worth $8,955,000 after purchasing an additional 407 shares in the last quarter. Cobblestone Capital Advisors LLC NY purchased a new position in Netflix in the 1st quarter worth approximately $404,000. Shamrock Asset Management LLC purchased a new position in Netflix in the 1st quarter worth approximately $53,000. Finally, Enlightenment Research LLC purchased a new position in Netflix in the 1st quarter worth approximately $1,034,000. 76.08% of the stock is owned by institutional investors and hedge funds.
In other Netflix news, Director Anne M. Sweeney sold 342 shares of Netflix stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $360.00, for a total transaction of $123,120.00. Following the completion of the sale, the director now directly owns 342 shares of the company’s stock, valued at approximately $123,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Reed Hastings sold 56,966 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $370.74, for a total value of $21,119,574.84. Following the completion of the sale, the chief executive officer now directly owns 56,966 shares of the company’s stock, valued at $21,119,574.84. The disclosure for this sale can be found here. Insiders have sold a total of 165,833 shares of company stock valued at $60,817,341 over the last ninety days. 4.29% of the stock is owned by company insiders.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.19. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.50 billion. Netflix had a return on equity of 24.75% and a net margin of 7.61%. Netflix’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. On average, equities research analysts expect that Netflix, Inc. will post 3.35 EPS for the current fiscal year.
A number of research firms recently commented on NFLX. Pivotal Research reissued a “buy” rating and issued a $500.00 price target on shares of Netflix in a report on Tuesday, April 16th. BMO Capital Markets boosted their price target on Netflix from $440.00 to $470.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Nomura reissued a “neutral” rating and issued a $320.00 price target (up from $300.00) on shares of Netflix in a report on Friday, January 18th. Argus reissued a “hold” rating on shares of Netflix in a report on Tuesday, January 22nd. Finally, Wedbush boosted their price target on Netflix from $150.00 to $165.00 and gave the stock an “underperform” rating in a report on Friday, January 18th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $385.03.
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Netflix Company Profile
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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