Netflix, Inc. (NASDAQ:NFLX) Shares Sold by SNS Financial Group LLC

SNS Financial Group LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 32.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,781 shares of the Internet television network’s stock after selling 845 shares during the quarter. SNS Financial Group LLC’s holdings in Netflix were worth $654,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Hartford Investment Management Co. lifted its stake in Netflix by 0.8% in the second quarter. Hartford Investment Management Co. now owns 53,204 shares of the Internet television network’s stock valued at $19,543,000 after buying an additional 447 shares during the last quarter. Magnus Financial Group LLC lifted its stake in Netflix by 3.2% in the first quarter. Magnus Financial Group LLC now owns 1,120 shares of the Internet television network’s stock valued at $399,000 after buying an additional 35 shares during the last quarter. Bach Investment Advisors Ltd lifted its stake in Netflix by 128.9% in the first quarter. Bach Investment Advisors Ltd now owns 1,224 shares of the Internet television network’s stock valued at $436,000 after buying an additional 5,465 shares during the last quarter. Northern Trust Corp lifted its stake in Netflix by 1.9% in the first quarter. Northern Trust Corp now owns 4,948,504 shares of the Internet television network’s stock valued at $1,764,438,000 after buying an additional 90,312 shares during the last quarter. Finally, Telos Capital Management Inc. lifted its stake in Netflix by 21.7% in the first quarter. Telos Capital Management Inc. now owns 1,236 shares of the Internet television network’s stock valued at $441,000 after buying an additional 220 shares during the last quarter. 77.03% of the stock is owned by institutional investors and hedge funds.

NFLX stock traded down $9.06 on Wednesday, reaching $301.04. 6,352,934 shares of the company’s stock were exchanged, compared to its average volume of 9,668,502. The company has a fifty day moving average of $351.18. Netflix, Inc. has a twelve month low of $231.23 and a twelve month high of $386.80. The company has a market cap of $139.59 billion, a price-to-earnings ratio of 112.33, a PEG ratio of 3.24 and a beta of 1.23. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.85 and a current ratio of 0.85.

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, 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 firm had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. Netflix’s quarterly revenue was up 26.0% on a year-over-year basis. On average, equities research analysts forecast that Netflix, Inc. will post 3.28 EPS for the current fiscal year.

A number of equities research analysts have weighed in on NFLX shares. Buckingham Research reduced their price objective on Netflix from $382.00 to $358.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research note on Friday, July 19th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $440.00 price objective on shares of Netflix in a research note on Monday, June 17th. Wedbush boosted their price objective on Netflix from $183.00 to $188.00 and gave the company an “underperform” rating in a research note on Thursday, July 18th. Finally, Nomura reduced their price objective on Netflix from $320.00 to $310.00 and set a “neutral” rating for the company in a research note on Thursday, July 18th. Three research 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 assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $390.47.

In other Netflix news, CEO Reed Hastings sold 51,898 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $372.89, for a total value of $19,352,245.22. Following the sale, the chief executive officer now owns 51,898 shares of the company’s stock, valued at $19,352,245.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 1,208 shares of the company’s 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 completion of the sale, the director now directly owns 357 shares in the company, valued at approximately $133,875. The disclosure for this sale can be found here. Insiders have sold 165,862 shares of company stock worth $56,966,404 in the last ninety days. 3.72% of the stock is currently owned by corporate 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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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