Conning Inc. lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 29.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,055 shares of the Internet television network’s stock after selling 2,910 shares during the period. Conning Inc.’s holdings in Netflix were worth $2,591,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Nelson Roberts Investment Advisors LLC grew its position in shares of Netflix by 600.0% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 84 shares of the Internet television network’s stock valued at $31,000 after buying an additional 72 shares during the last quarter. TCG Advisors LP bought a new stake in shares of Netflix during the 1st quarter valued at about $36,000. SevenBridge Financial Group LLC boosted its position in shares of Netflix by 66.7% during the 2nd quarter. SevenBridge Financial Group LLC now owns 125 shares of the Internet television network’s stock valued at $46,000 after purchasing an additional 50 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of Netflix by 182.0% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock valued at $50,000 after purchasing an additional 91 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC bought a new stake in shares of Netflix during the 1st quarter valued at about $55,000. Institutional investors and hedge funds own 77.03% of the company’s stock.
In other Netflix news, CEO Reed Hastings sold 51,898 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $372.89, for a total transaction of $19,352,245.22. Following the completion of the transaction, the chief executive officer now directly owns 51,898 shares of the company’s stock, valued at $19,352,245.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 1,208 shares of the stock in a transaction on Monday, July 1st. The shares were 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 of the company’s stock, valued at $133,875. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,862 shares of company stock valued at $56,966,404. 3.72% of the stock is owned by corporate insiders.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share 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 during the quarter, compared to analyst estimates of $4.93 billion. During the same period in the prior year, the company earned $0.85 earnings per share. Netflix’s revenue was up 26.0% compared to the same quarter last year. On average, equities research analysts anticipate that Netflix, Inc. will post 3.28 earnings per share for the current year.
NFLX has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on Netflix from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Thursday, July 18th. SunTrust Banks restated a “buy” rating on shares of Netflix in a research report on Friday, April 12th. Rosenblatt Securities restated a “neutral” rating and set a $370.00 target price (up previously from $350.00) on shares of Netflix in a research report on Wednesday, July 10th. Raymond James cut their target price on Netflix from $470.00 to $450.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Netflix in a research report on Friday, July 19th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Netflix presently has a consensus rating of “Buy” and an average price target of $390.47.
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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