Landsberg Bennett & Dubbaneh LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 27.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,864 shares of the Internet television network’s stock after selling 1,461 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in Netflix were worth $1,017,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in NFLX. Vanguard Group Inc. boosted its position in Netflix by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 32,688,805 shares of the Internet television network’s stock worth $12,007,252,000 after acquiring an additional 1,118,349 shares during the period. FMR LLC boosted its position in Netflix by 2.4% during the 1st quarter. FMR LLC now owns 26,167,019 shares of the Internet television network’s stock worth $9,330,112,000 after acquiring an additional 605,419 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Netflix by 1.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,748,186 shares of the Internet television network’s stock worth $5,784,623,000 after acquiring an additional 297,582 shares during the period. Baillie Gifford & Co. boosted its position in Netflix by 2.2% during the 2nd quarter. Baillie Gifford & Co. now owns 7,743,499 shares of the Internet television network’s stock worth $2,844,343,000 after acquiring an additional 163,289 shares during the period. Finally, Invesco Ltd. boosted its position in Netflix by 39.1% during the 2nd quarter. Invesco Ltd. now owns 7,249,377 shares of the Internet television network’s stock worth $2,662,841,000 after acquiring an additional 2,039,046 shares during the period. Institutional investors and hedge funds own 78.96% of the company’s stock.
A number of research analysts have issued reports on the company. Nomura reduced their price target on Netflix from $320.00 to $310.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Imperial Capital set a $451.00 price target on Netflix and gave the stock a “buy” rating in a research report on Thursday, September 12th. Monness Crespi & Hardt reduced their price target on Netflix from $440.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday. Evercore ISI reduced their price target on Netflix from $380.00 to $300.00 and set an “in-line” rating for the company in a research report on Monday. Finally, Morgan Stanley set a $450.00 price target on Netflix and gave the stock a “buy” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $369.45.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Wednesday, July 17th. The Internet television network reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. The company had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.93 billion. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 EPS. On average, equities analysts forecast that Netflix, Inc. will post 3.25 earnings per share for the current year.
In related news, Director Bradford L. Smith bought 6,499 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $308.49 per share, with a total value of $2,004,876.51. Following the completion of the transaction, the director now directly owns 799 shares of the company’s stock, valued at $246,483.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Reed Hastings sold 55,342 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $309.54, for a total value of $17,130,562.68. Following the sale, the chief executive officer now directly owns 55,342 shares in the company, valued at $17,130,562.68. The disclosure for this sale can be found here. Insiders have sold 150,983 shares of company stock worth $44,378,164 over the last ninety days. 4.29% of the stock is owned by insiders.
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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