KMG Fiduciary Partners LLC Acquires 467 Shares of Netflix, Inc. (NASDAQ:NFLX)

KMG Fiduciary Partners LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 13.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,916 shares of the Internet television network’s stock after acquiring an additional 467 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Netflix were worth $1,438,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Parkside Financial Bank & Trust increased its stake in Netflix by 5.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 529 shares of the Internet television network’s stock worth $189,000 after acquiring an additional 27 shares during the last quarter. Investment House LLC increased its position in shares of Netflix by 3.1% during the 1st quarter. Investment House LLC now owns 954 shares of the Internet television network’s stock valued at $340,000 after purchasing an additional 29 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA increased its position in shares of Netflix by 0.4% during the 1st quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 7,290 shares of the Internet television network’s stock valued at $2,599,000 after purchasing an additional 30 shares during the last quarter. Harfst & Associates Inc. increased its position in shares of Netflix by 3.5% during the 1st quarter. Harfst & Associates Inc. now owns 992 shares of the Internet television network’s stock valued at $353,000 after purchasing an additional 34 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Netflix by 2.8% during the 2nd quarter. Lindbrook Capital LLC now owns 1,259 shares of the Internet television network’s stock valued at $462,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

In other Netflix news, CEO Reed Hastings sold 57,414 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $348.88, for a total value of $20,030,596.32. Following the completion of the sale, the chief executive officer now owns 57,414 shares in the company, valued at approximately $20,030,596.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 approximately $133,875. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,862 shares of company stock valued at $56,966,404. Company insiders own 3.72% of the company’s stock.

NFLX opened at $310.10 on Wednesday. The stock’s 50 day moving average is $351.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.06. Netflix, Inc. has a 1 year low of $231.23 and a 1 year high of $386.80. The company has a market cap of $139.59 billion, a price-to-earnings ratio of 115.71, a price-to-earnings-growth ratio of 3.24 and a beta of 1.23.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $4.93 billion. During the same period last year, the company earned $0.85 EPS. Netflix’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, equities research analysts anticipate that Netflix, Inc. will post 3.28 EPS for the current fiscal year.

Several equities analysts have recently commented on the company. BMO Capital Markets reduced their price objective on Netflix from $470.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, July 18th. Royal Bank of Canada set a $480.00 price objective on Netflix and gave the company a “buy” rating in a research report on Thursday, April 18th. Barclays reiterated a “buy” rating on shares of Netflix in a research report on Thursday, May 16th. Piper Jaffray Companies reiterated an “overweight” rating and set a $440.00 price objective on shares of Netflix in a research report on Monday, June 17th. Finally, Morgan Stanley set a $450.00 price objective on Netflix and gave the company a “buy” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $390.47.

About Netflix

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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