Meeder Asset Management Inc. Purchases 1,053 Shares of Netflix, Inc. (NASDAQ:NFLX)

Meeder Asset Management Inc. increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 6,194.1% during the second quarter, HoldingsChannel reports. The fund owned 1,070 shares of the Internet television network’s stock after buying an additional 1,053 shares during the quarter. Meeder Asset Management Inc.’s holdings in Netflix were worth $393,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NFLX. FMR LLC grew its position in shares of Netflix by 2.4% in the 1st quarter. FMR LLC now owns 26,167,019 shares of the Internet television network’s stock valued at $9,330,112,000 after buying an additional 605,419 shares during the last quarter. Northern Trust Corp grew its position in shares of Netflix by 1.9% in 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 buying an additional 90,312 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Netflix by 6.6% in the 2nd quarter. Janus Henderson Group PLC now owns 3,471,536 shares of the Internet television network’s stock valued at $1,275,354,000 after buying an additional 213,987 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Netflix by 1.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,716,711 shares of the Internet television network’s stock valued at $630,582,000 after buying an additional 19,015 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of Netflix by 2.8% in the 1st quarter. Swiss National Bank now owns 1,455,525 shares of the Internet television network’s stock valued at $518,982,000 after buying an additional 39,900 shares during the last quarter. Institutional investors and hedge funds own 77.01% of the company’s stock.

A number of equities research analysts have commented on NFLX shares. Raymond James reduced their price target 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. Citigroup reduced their price target on Netflix from $420.00 to $410.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. 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. BidaskClub downgraded Netflix from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $440.00 price objective on shares of Netflix in a research note on Monday, June 17th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Netflix has an average rating of “Buy” and a consensus price target of $392.38.

In related news, Director Bradford L. Smith acquired 6,499 shares of the stock in a transaction dated Thursday, August 8th. The stock was purchased at an average cost of $308.49 per share, with a total value of $2,004,876.51. Following the completion of the purchase, the director now directly owns 799 shares in the company, valued at approximately $246,483.51. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Reed Hastings sold 52,269 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $300.10, for a total value of $15,685,926.90. Following the completion of the sale, the chief executive officer now directly owns 52,269 shares of the company’s stock, valued at $15,685,926.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,717 shares of company stock worth $52,621,735. 4.29% of the stock is owned by company insiders.

NFLX stock opened at $296.17 on Friday. The stock’s 50 day simple moving average is $330.88 and its 200 day simple moving average is $352.47. Netflix, Inc. has a fifty-two week low of $231.23 and a fifty-two week high of $386.80. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $130.91 billion, a P/E ratio of 110.51, a price-to-earnings-growth ratio of 3.05 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 for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.93 billion. During the same period in the prior year, the business earned $0.85 EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. Equities analysts predict that Netflix, Inc. will post 3.26 earnings per share for the current year.

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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