Knuff & Co LLC trimmed its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,882 shares of the Internet television network’s stock after selling 734 shares during the quarter. Netflix makes up 3.9% of Knuff & Co LLC’s portfolio, making the stock its 5th biggest position. Knuff & Co LLC’s holdings in Netflix were worth $12,068,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC grew its position in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares during the period. Proffitt & Goodson Inc. grew its position in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares during the period. AlphaMark Advisors LLC grew its position in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after buying an additional 45 shares during the period. Indiana Trust & Investment Management CO grew its position in shares of Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares during the period. Finally, Triad Wealth Partners LLC acquired a new position in shares of Netflix during the 2nd quarter worth about $38,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on NFLX. Morgan Stanley boosted their target price on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Argus lifted their price objective on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. TD Cowen lifted their price objective on Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Citigroup lifted their price objective on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Loop Capital lifted their price objective on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $685.45.
Netflix Price Performance
Shares of NFLX stock traded up $8.87 on Monday, hitting $701.35. 3,266,700 shares of the company’s stock were exchanged, compared to its average volume of 3,828,842. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $711.33. The stock has a market cap of $302.28 billion, a P/E ratio of 48.67, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27. The company has a 50 day moving average of $659.34 and a 200 day moving average of $631.17.
Netflix (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.29 EPS. On average, equities research analysts predict that Netflix, Inc. will post 19.08 EPS for the current year.
Insider Buying and Selling at Netflix
In other Netflix news, Director Leslie J. Kilgore sold 1,372 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total value of $966,999.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leslie J. Kilgore sold 1,372 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total value of $966,999.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 132,757 shares of company stock worth $85,648,496. 1.76% of the stock is currently owned by insiders.
Netflix Profile
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.
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