Altshuler Shaham Ltd lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 98.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97 shares of the Internet television network’s stock after selling 6,253 shares during the quarter. Altshuler Shaham Ltd’s holdings in Netflix were worth $49,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Morgan Stanley lifted its holdings in shares of Netflix by 39.7% during the 1st 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 last quarter. CWM LLC grew its position in Netflix by 11.1% in the second quarter. CWM LLC now owns 8,277 shares of the Internet television network’s stock valued at $3,766,000 after acquiring an additional 825 shares during the period. M&G Investment Management Ltd. grew its position in Netflix by 99.4% in the second quarter. M&G Investment Management Ltd. now owns 3,001 shares of the Internet television network’s stock valued at $1,365,000 after acquiring an additional 1,496 shares during the period. Creative Financial Designs Inc. ADV grew its position in Netflix by 328.9% in the second quarter. Creative Financial Designs Inc. ADV now owns 163 shares of the Internet television network’s stock valued at $74,000 after acquiring an additional 125 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Netflix by 73.7% in the second quarter. Janney Montgomery Scott LLC now owns 59,069 shares of the Internet television network’s stock valued at $26,879,000 after acquiring an additional 25,066 shares during the period. 80.63% of the stock is owned by hedge funds and other 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 stock was sold at an average price of $476.68, for a total transaction of $16,613,728.04. Following the transaction, the chief executive officer now directly owns 34,853 shares of the company’s stock, valued at approximately $16,613,728.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rodolphe Belmer sold 2,136 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $488.52, for a total value of $1,043,478.72. Following the transaction, the director now directly owns 215 shares in the company, valued at $105,031.80. The disclosure for this sale can be found here. Insiders sold a total of 246,280 shares of company stock worth $126,820,118 over the last three months. 3.40% of the stock is owned by company insiders.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.39). The business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.38 billion. Netflix had a net margin of 11.78% and a return on equity of 31.48%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.47 earnings per share. Analysts anticipate that Netflix, Inc. will post 6.26 EPS for the current year.
A number of analysts have weighed in on the company. Credit Suisse Group set a $525.00 price target on Netflix and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Canaccord Genuity increased their target price on Netflix from $550.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Wells Fargo & Company increased their target price on Netflix from $470.00 to $510.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 21st. Truist increased their target price on Netflix from $530.00 to $560.00 in a report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $615.00 target price on shares of Netflix in a report on Wednesday, October 21st. 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. The stock presently has an average rating of “Buy” and an average price target of $528.39.
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.
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