IFM Investors Pty Ltd decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 27.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 32,305 shares of the Internet television network’s stock after selling 11,993 shares during the quarter. Netflix makes up 0.8% of IFM Investors Pty Ltd’s investment portfolio, making the stock its 21st largest position. IFM Investors Pty Ltd’s holdings in Netflix were worth $14,700,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Ameritas Investment Company LLC lifted its holdings in Netflix by 176,141.7% during the 4th quarter. Ameritas Investment Company LLC now owns 21,149 shares of the Internet television network’s stock worth $6,843,000 after purchasing an additional 21,137 shares in the last quarter. Chesley Taft & Associates LLC purchased a new stake in Netflix during the 2nd quarter worth about $219,000. Consolidated Capital Management LLC lifted its holdings in Netflix by 6.5% during the 1st quarter. Consolidated Capital Management LLC now owns 13,930 shares of the Internet television network’s stock worth $5,231,000 after purchasing an additional 846 shares in the last quarter. Banque Cantonale Vaudoise lifted its holdings in Netflix by 27.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 7,685 shares of the Internet television network’s stock worth $2,887,000 after purchasing an additional 1,659 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Netflix by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 78,336 shares of the Internet television network’s stock worth $35,646,000 after purchasing an additional 1,814 shares in the last quarter. Institutional investors own 82.30% of the company’s stock.
NFLX stock traded up $12.26 during midday trading on Monday, reaching $561.00. The stock had a trading volume of 5,059,746 shares, compared to its average volume of 6,322,334. The stock has a market cap of $241.33 billion, a PE ratio of 114.69, a P/E/G ratio of 2.84 and a beta of 0.96. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a fifty day simple moving average of $443.57 and a two-hundred day simple moving average of $389.74. Netflix, Inc. has a 52-week low of $252.28 and a 52-week high of $505.10.
In other news, CEO Reed Hastings sold 54,369 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $438.69, for a total transaction of $23,851,136.61. Following the sale, the chief executive officer now directly owns 54,369 shares in the company, valued at approximately $23,851,136.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 1,500 shares of the firm’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $436.88, for a total value of $655,320.00. Following the sale, the director now owns 490 shares in the company, valued at $214,071.20. The disclosure for this sale can be found here. Insiders have sold a total of 192,655 shares of company stock worth $86,881,849 over the last ninety days. 3.40% of the stock is owned by insiders.
A number of brokerages recently issued reports on NFLX. Imperial Capital increased their price objective on Netflix from $485.00 to $489.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Wedbush raised their price target on Netflix from $194.00 to $198.00 and gave the company an “underperform” rating in a report on Wednesday, April 22nd. Raymond James cut Netflix from a “strong-buy” rating to an “outperform” rating and raised their price target for the company from $415.00 to $480.00 in a report on Wednesday, April 22nd. Bank of America reaffirmed a “buy” rating and issued a $525.00 price target on shares of Netflix in a report on Monday, June 15th. Finally, BidaskClub raised Netflix from a “hold” rating to a “buy” rating in a report on Wednesday, June 24th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. Netflix currently has an average rating of “Buy” and an average price target of $453.38.
Netflix Company 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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