Global Trust Asset Management LLC Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

Global Trust Asset Management LLC acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,050 shares of the Internet television network’s stock, valued at approximately $386,000.

A number of other large investors also recently added to or reduced their stakes in the stock. World Asset Management Inc boosted its position in Netflix by 2.4% during the 2nd quarter. World Asset Management Inc now owns 28,722 shares of the Internet television network’s stock valued at $10,550,000 after purchasing an additional 672 shares during the period. Huntington National Bank boosted its position in Netflix by 2.6% during the 2nd quarter. Huntington National Bank now owns 89,083 shares of the Internet television network’s stock valued at $32,722,000 after purchasing an additional 2,224 shares during the period. Landsberg Bennett & Dubbaneh LLC boosted its position in Netflix by 22.5% during the 2nd quarter. Landsberg Bennett & Dubbaneh LLC now owns 5,325 shares of the Internet television network’s stock valued at $1,995,000 after purchasing an additional 979 shares during the period. Sigma Investment Counselors Inc. boosted its position in Netflix by 4.9% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 4,825 shares of the Internet television network’s stock worth $1,772,000 after acquiring an additional 225 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in Netflix by 0.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 55,430 shares of the Internet television network’s stock worth $20,359,000 after acquiring an additional 393 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

A number of brokerages have issued reports on NFLX. JPMorgan Chase & Co. reduced their price target on Netflix from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. UBS Group reiterated a “buy” rating and set a $420.00 price target on shares of Netflix in a research report on Thursday, April 18th. Credit Suisse Group set a $440.00 price target on Netflix and gave the stock a “buy” rating in a research report on Thursday, July 18th. Nomura reduced their price target on Netflix from $320.00 to $310.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Finally, Deutsche Bank boosted their price target on Netflix to $371.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $390.47.

NFLX opened at $316.98 on Friday. Netflix, Inc. has a one year low of $231.23 and a one year high of $386.80. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. The stock has a fifty day moving average price of $354.03. The company has a market cap of $139.89 billion, a P/E ratio of 118.27, a PEG ratio of 3.31 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Wednesday, July 17th. The Internet television network reported $0.60 EPS for the quarter, topping the Zacks’ 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 company had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. Research analysts expect that Netflix, Inc. will post 3.28 earnings per share for the current fiscal year.

In other news, CEO Reed Hastings sold 57,414 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $348.88, for a total transaction of $20,030,596.32. Following the sale, the chief executive officer now directly owns 57,414 shares of the company’s stock, valued at $20,030,596.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 1,208 shares of the business’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 sale, the director now directly owns 357 shares in the company, valued at $133,875. The disclosure for this sale can be found here. Insiders have sold 165,862 shares of company stock worth $56,966,404 over the last ninety days. 4.29% of the stock is owned by insiders.

Netflix 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.

Further Reading: Retained Earnings

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.