Sound Income Strategies LLC Buys 167 Shares of Netflix, Inc. (NASDAQ:NFLX)

Sound Income Strategies LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 23.8% in the second quarter, HoldingsChannel reports. The fund owned 868 shares of the Internet television network’s stock after purchasing an additional 167 shares during the period. Sound Income Strategies LLC’s holdings in Netflix were worth $319,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in Netflix by 2.4% during the 1st quarter. FMR LLC now owns 26,167,019 shares of the Internet television network’s stock valued at $9,330,112,000 after purchasing an additional 605,419 shares during the last quarter. Geode Capital Management LLC raised its position in Netflix by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 5,342,932 shares of the Internet television network’s stock valued at $1,427,434,000 after purchasing an additional 148,252 shares during the last quarter. Northern Trust Corp raised its position in Netflix by 1.9% during the 1st quarter. Northern Trust Corp now owns 4,948,504 shares of the Internet television network’s stock valued at $1,764,438,000 after purchasing an additional 90,312 shares during the last quarter. Janus Henderson Group PLC raised its position in Netflix by 11.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,257,549 shares of the Internet television network’s stock valued at $1,161,512,000 after purchasing an additional 339,899 shares during the last quarter. Finally, Swiss National Bank raised its position in Netflix by 2.8% during the 1st quarter. Swiss National Bank now owns 1,455,525 shares of the Internet television network’s stock valued at $518,982,000 after purchasing an additional 39,900 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

In other news, Director Ann Mather sold 1,208 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $375.00, for a total value of $453,000.00. Following the transaction, the director now directly owns 357 shares in the company, valued at approximately $133,875. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Reed Hastings sold 55,342 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $309.54, for a total value of $17,130,562.68. Following the completion of the transaction, the chief executive officer now owns 55,342 shares in the company, valued at $17,130,562.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,862 shares of company stock worth $56,966,404. Company insiders own 4.29% of the company’s stock.

A number of research analysts have commented on NFLX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Netflix in a research report on Friday, July 19th. Barclays reissued a “buy” rating on shares of Netflix in a research report on Thursday, May 16th. Citigroup decreased their target price on Netflix from $420.00 to $410.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Wolfe Research began coverage on Netflix in a research report on Thursday, June 20th. They issued an “outperform” rating and a $442.00 target price for the company. Finally, Imperial Capital cut their price target on Netflix from $463.00 to $458.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. Netflix presently has an average rating of “Buy” and an average price target of $390.47.

NFLX traded up $2.48 during trading on Thursday, hitting $325.47. 2,634,900 shares of the company’s stock traded hands, compared to its average volume of 8,969,890. The business’s 50 day moving average is $354.50. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.85. Netflix, Inc. has a 12-month low of $231.23 and a 12-month high of $386.80. The firm has a market cap of $141.34 billion, a PE ratio of 121.44, a price-to-earnings-growth ratio of 3.38 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The business had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period last year, the business posted $0.85 EPS. The company’s revenue was up 26.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Netflix, Inc. will post 3.28 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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