Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,860 shares of the Internet television network’s stock after purchasing an additional 187 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Netflix were worth $1,430,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of NFLX. Capital International Investors lifted its holdings in Netflix by 27.3% in the first quarter. Capital International Investors now owns 13,695,433 shares of the Internet television network’s stock valued at $5,142,631,000 after buying an additional 2,936,451 shares during the period. Advisor Group Holdings Inc. acquired a new position in Netflix in the first quarter valued at $42,595,000. BlackRock Inc. lifted its holdings in Netflix by 2.8% in the second quarter. BlackRock Inc. now owns 29,171,135 shares of the Internet television network’s stock valued at $13,274,032,000 after buying an additional 797,481 shares during the period. Morgan Stanley lifted its holdings in Netflix by 39.7% in the first quarter. Morgan Stanley now owns 2,685,577 shares of the Internet television network’s stock valued at $1,008,435,000 after buying an additional 763,798 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Netflix by 24.4% in the second quarter. Bank of New York Mellon Corp now owns 3,873,203 shares of the Internet television network’s stock valued at $1,762,464,000 after buying an additional 759,686 shares during the period. 80.63% of the stock is currently owned by institutional investors.
In related news, CEO Reed Hastings sold 34,853 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $476.68, for a total transaction of $16,613,728.04. Following the sale, the chief executive officer now directly owns 34,853 shares in the company, valued at approximately $16,613,728.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel David A. Hyman sold 26,754 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $505.77, for a total transaction of $13,531,370.58. Following the completion of the sale, the general counsel now owns 38,008 shares in the company, valued at $19,223,306.16. The disclosure for this sale can be found here. Insiders have sold a total of 198,544 shares of company stock worth $97,503,985 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 16th. The Internet television network reported $1.59 EPS for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.22). The business had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.08 billion. Netflix had a net margin of 11.85% and a return on equity of 33.32%. During the same quarter in the previous year, the company posted $0.60 earnings per share. Equities analysts expect that Netflix, Inc. will post 6.27 EPS for the current fiscal year.
NFLX has been the topic of several recent analyst reports. CSFB restated a “hold” rating and issued a $525.00 target price on shares of Netflix in a report on Monday, October 5th. Canaccord Genuity upped their price objective on shares of Netflix from $550.00 to $630.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer upped their price objective on shares of Netflix from $480.00 to $515.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Benchmark dropped their price objective on shares of Netflix from $425.00 to $420.00 and set a “sell” rating on the stock in a report on Monday, September 28th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $500.00 price objective on shares of Netflix in a report on Thursday, July 16th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $514.80.
Netflix, Inc provides subscription streaming entertainment service. 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.
Read More: Stochastic Momentum Index (SMI)
Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.