Netflix, Inc. (NFLX) Stake Lowered by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 24.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,635 shares of the Internet television network’s stock after selling 6,960 shares during the period. TimesSquare Capital Management LLC’s holdings in Netflix were worth $3,232,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of Netflix by 0.8% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,134 shares of the Internet television network’s stock valued at $168,000 after acquiring an additional 9 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Netflix by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock valued at $245,000 after acquiring an additional 11 shares during the last quarter. M Holdings Securities Inc. raised its stake in shares of Netflix by 0.5% during the first quarter. M Holdings Securities Inc. now owns 2,467 shares of the Internet television network’s stock valued at $365,000 after acquiring an additional 12 shares during the last quarter. Heritage Investors Management Corp raised its stake in shares of Netflix by 0.6% during the second quarter. Heritage Investors Management Corp now owns 1,995 shares of the Internet television network’s stock valued at $298,000 after acquiring an additional 12 shares during the last quarter. Finally, Northwest Wealth Management LLC raised its stake in shares of Netflix by 0.8% during the second quarter. Northwest Wealth Management LLC now owns 1,890 shares of the Internet television network’s stock valued at $282,000 after acquiring an additional 15 shares during the last quarter. 81.05% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $154.31, for a total value of $308,620.00. Following the completion of the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,236,331.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $156.62, for a total transaction of $156,620.00. Following the completion of the sale, the director now directly owns 8,012 shares of the company’s stock, valued at approximately $1,254,839.44. The disclosure for this sale can be found here. Insiders sold 349,435 shares of company stock valued at $59,221,491 in the last three months. 4.90% of the stock is currently owned by insiders.

Several equities analysts have recently commented on the stock. Loop Capital reaffirmed a “buy” rating and set a $212.00 price objective (up from $205.00) on shares of Netflix in a research note on Thursday, September 7th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $175.00 price objective on shares of Netflix in a research note on Thursday, September 7th. Robert W. Baird reaffirmed a “hold” rating and set a $175.00 price objective on shares of Netflix in a research note on Friday, September 1st. Vetr downgraded shares of Netflix from a “hold” rating to a “sell” rating and set a $165.09 price objective for the company. in a research note on Wednesday, August 30th. Finally, Sanford C. Bernstein set a $203.00 price target on shares of Netflix and gave the stock a “buy” rating in a research note on Wednesday, August 30th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have issued a buy rating to the company. Netflix has an average rating of “Buy” and a consensus target price of $178.23.

Netflix, Inc. (NASDAQ NFLX) opened at 181.74 on Tuesday. The firm has a 50 day moving average of $175.33 and a 200-day moving average of $158.05. The stock has a market capitalization of $78.47 billion, a PE ratio of 221.09 and a beta of 1.05. Netflix, Inc. has a 52 week low of $93.26 and a 52 week high of $191.50.

Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. Netflix’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share. On average, equities analysts predict that Netflix, Inc. will post $1.19 EPS for the current year.

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About Netflix

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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