Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Great Lakes Advisors LLC

Great Lakes Advisors LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,377 shares of the Internet television network’s stock after purchasing an additional 332 shares during the quarter. Great Lakes Advisors LLC’s holdings in Netflix were worth $8,954,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Hartford Investment Management Co. boosted its stake in Netflix by 0.8% during the 2nd quarter. Hartford Investment Management Co. now owns 53,204 shares of the Internet television network’s stock valued at $19,543,000 after purchasing an additional 447 shares in the last quarter. Magnus Financial Group LLC boosted its stake in Netflix by 3.2% during the 1st quarter. Magnus Financial Group LLC now owns 1,120 shares of the Internet television network’s stock valued at $399,000 after purchasing an additional 35 shares in the last quarter. Northern Trust Corp boosted its stake in Netflix by 1.9% during the 1st quarter. Northern Trust Corp now owns 4,948,504 shares of the Internet television network’s stock valued at $1,764,438,000 after purchasing an additional 90,312 shares in the last quarter. Dearborn Partners LLC boosted its stake in Netflix by 10.4% during the 2nd quarter. Dearborn Partners LLC now owns 1,106 shares of the Internet television network’s stock valued at $406,000 after purchasing an additional 104 shares in the last quarter. Finally, Greenleaf Trust boosted its stake in Netflix by 26.1% during the 1st quarter. Greenleaf Trust now owns 4,545 shares of the Internet television network’s stock valued at $1,621,000 after purchasing an additional 940 shares in the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

In related news, 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 transaction, the director now directly owns 357 shares of the company’s stock, valued at approximately $133,875. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Reed Hastings sold 55,342 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $309.54, for a total transaction of $17,130,562.68. Following the transaction, the chief executive officer now owns 55,342 shares of the company’s stock, valued at $17,130,562.68. The disclosure for this sale can be found here. Insiders sold 160,717 shares of company stock valued at $52,621,735 in the last quarter. 4.29% of the stock is currently owned by corporate insiders.

Shares of Netflix stock traded down $1.60 during trading on Thursday, reaching $296.21. The company’s stock had a trading volume of 2,079,731 shares, compared to its average volume of 7,504,739. Netflix, Inc. has a one year low of $231.23 and a one year high of $386.80. The firm has a market cap of $135.46 billion, a price-to-earnings ratio of 110.53, a price-to-earnings-growth ratio of 3.16 and a beta of 1.23. The business’s fifty day moving average price is $332.55 and its 200-day moving average price is $352.68. 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 posted its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The company had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. Netflix’s quarterly revenue was up 26.0% compared to the same quarter last year. Sell-side analysts anticipate that Netflix, Inc. will post 3.26 EPS for the current year.

A number of equities analysts have issued reports on NFLX shares. Barclays reaffirmed a “buy” rating on shares of Netflix in a research note on Thursday, May 16th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $370.00 price target (up from $350.00) on shares of Netflix in a research note on Wednesday, July 10th. Goldman Sachs Group decreased their price target on Netflix from $460.00 to $420.00 in a research note on Thursday, July 18th. Imperial Capital decreased their price target on Netflix from $463.00 to $458.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Netflix in a research note on Friday, July 19th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $392.38.

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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