Global Financial Private Capital LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,791 shares of the Internet television network’s stock after selling 126 shares during the period. Global Financial Private Capital LLC’s holdings in Netflix were worth $1,708,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc increased its stake in Netflix by 0.8% in the third quarter. Vanguard Group Inc now owns 30,143,430 shares of the Internet television network’s stock valued at $11,277,562,000 after acquiring an additional 249,147 shares during the period. Gamco Investors INC. ET AL grew its stake in Netflix by 95.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 9,678 shares of the Internet television network’s stock worth $2,590,000 after buying an additional 4,718 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Netflix by 40.9% during the fourth quarter. Advisors Asset Management Inc. now owns 14,176 shares of the Internet television network’s stock worth $3,794,000 after buying an additional 4,116 shares during the last quarter. Ruggie Capital Group grew its stake in Netflix by 55.0% during the fourth quarter. Ruggie Capital Group now owns 217 shares of the Internet television network’s stock worth $58,000 after buying an additional 77 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Netflix by 1.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,955 shares of the Internet television network’s stock worth $1,059,000 after buying an additional 63 shares during the last quarter. 77.02% of the stock is owned by institutional investors and hedge funds.
Shares of NFLX traded down $2.70 during midday trading on Friday, reaching $367.32. The stock had a trading volume of 3,707,152 shares, compared to its average volume of 8,073,401. The company’s 50 day simple moving average is $355.31. Netflix, Inc. has a one year low of $231.23 and a one year high of $419.77. The stock has a market cap of $160.93 billion, a price-to-earnings ratio of 137.06, a PEG ratio of 3.61 and a beta of 1.30. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.61 and a current ratio of 0.61.
Several brokerages have weighed in on NFLX. BidaskClub raised shares of Netflix from a “sell” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada set a $480.00 price objective on shares of Netflix and gave the stock a “buy” rating in a research note on Thursday, April 18th. UBS Group reiterated a “buy” rating and set a $420.00 target price on shares of Netflix in a research report on Thursday, April 18th. Rosenblatt Securities reiterated a “hold” rating on shares of Netflix in a research report on Wednesday, April 17th. Finally, Credit Suisse Group upped their target price on shares of Netflix from $440.00 to $450.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Netflix currently has an average rating of “Buy” and a consensus target price of $387.63.
In other news, CEO Reed Hastings sold 57,414 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $348.88, for a total transaction of $20,030,596.32. Following the completion of the sale, the chief executive officer now owns 57,414 shares in the company, valued at approximately $20,030,596.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders sold 166,278 shares of company stock valued at $60,502,416. Insiders own 4.29% of the company’s stock.
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.
Further Reading: What is Cost of Goods Sold (COGS)?
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