Trustcore Financial Services LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 12.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,154 shares of the Internet television network’s stock after buying an additional 350 shares during the quarter. Trustcore Financial Services LLC’s holdings in Netflix were worth $1,159,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Hartford Investment Management Co. boosted its stake in shares of Netflix by 0.8% in the second quarter. Hartford Investment Management Co. now owns 53,204 shares of the Internet television network’s stock worth $19,543,000 after buying an additional 447 shares during the last quarter. Nelson Roberts Investment Advisors LLC boosted its position in Netflix by 600.0% during the second quarter. Nelson Roberts Investment Advisors LLC now owns 84 shares of the Internet television network’s stock worth $31,000 after purchasing an additional 72 shares in the last quarter. Mitchell Capital Management Co. boosted its position in Netflix by 15.3% during the second quarter. Mitchell Capital Management Co. now owns 7,007 shares of the Internet television network’s stock worth $2,574,000 after purchasing an additional 930 shares in the last quarter. Greenleaf Trust boosted its position in Netflix by 2.9% during the second quarter. Greenleaf Trust now owns 4,679 shares of the Internet television network’s stock worth $1,719,000 after purchasing an additional 134 shares in the last quarter. Finally, Westside Investment Management Inc. purchased a new position in Netflix during the second quarter worth approximately $66,000. Hedge funds and other institutional investors own 77.03% of the company’s stock.
In related news, Director Ann Mather sold 1,208 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 357 shares of the company’s stock, valued at $133,875. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Reed Hastings sold 51,898 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $372.89, for a total value of $19,352,245.22. Following the completion of the sale, the chief executive officer now directly owns 51,898 shares of the company’s stock, valued at approximately $19,352,245.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,862 shares of company stock valued at $56,966,404. Insiders own 3.72% of the company’s stock.
Netflix (NASDAQ:NFLX) last posted its quarterly 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 firm had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, equities research analysts expect that Netflix, Inc. will post 3.28 earnings per share for the current fiscal year.
NFLX has been the topic of a number of recent analyst reports. Pivotal Research reiterated a “buy” rating and set a $515.00 price target (up previously from $500.00) on shares of Netflix in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lowered their price target on Netflix from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Thursday, July 18th. Royal Bank of Canada set a $480.00 price target on Netflix and gave the stock a “buy” rating in a research report on Thursday, April 18th. BidaskClub upgraded Netflix from a “sell” rating to a “hold” rating in a research report on Saturday, July 27th. Finally, ValuEngine downgraded Netflix from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $390.47.
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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