DNB Asset Management AS decreased its stake in Netflix, Inc. (NASDAQ:NFLX) by 34.5% during the first quarter, Holdings Channel reports. The institutional investor owned 47,402 shares of the Internet television network’s stock after selling 25,003 shares during the quarter. DNB Asset Management AS’s holdings in Netflix were worth $16,902,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in shares of Netflix in the first quarter worth about $21,701,000. Dfpg Investments Inc. boosted its stake in shares of Netflix by 15.7% in the first quarter. Dfpg Investments Inc. now owns 2,585 shares of the Internet television network’s stock worth $951,000 after buying an additional 350 shares during the last quarter. Broadleaf Partners LLC purchased a new stake in shares of Netflix in the first quarter worth about $2,563,000. PagnatoKarp Partners LLC purchased a new stake in shares of Netflix in the first quarter worth about $391,000. Finally, Strategic Blueprint LLC purchased a new stake in shares of Netflix in the first quarter worth about $211,000. Hedge funds and other institutional investors own 76.10% of the company’s stock.
In related news, Director Anne M. Sweeney sold 1,649 shares of the stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $370.00, for a total value of $610,130.00. Following the completion of the sale, the director now owns 609 shares of the company’s stock, valued at $225,330. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Anne M. Sweeney sold 342 shares of the stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $360.00, for a total value of $123,120.00. Following the completion of the sale, the director now directly owns 342 shares of the company’s stock, valued at approximately $123,120. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,950 shares of company stock worth $65,620,477. Company insiders own 4.29% of the company’s stock.
Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, January 17th. The Internet television network reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.21 billion. Netflix had a return on equity of 25.82% and a net margin of 7.67%. The business’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. On average, research analysts predict that Netflix, Inc. will post 3.98 earnings per share for the current fiscal year.
NFLX has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $480.00 target price (up previously from $450.00) on shares of Netflix in a research note on Friday, January 18th. Morgan Stanley increased their price target on Netflix from $430.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, January 18th. Credit Suisse Group reiterated a “buy” rating and set a $440.00 price target on shares of Netflix in a research report on Friday, January 18th. SunTrust Banks reiterated a “buy” rating and set a $402.00 price target on shares of Netflix in a research report on Wednesday, March 27th. Finally, Macquarie set a $375.00 price target on Netflix and gave the stock a “buy” rating in a research report on Friday, January 18th. Seven analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Netflix presently has an average rating of “Buy” and an average price target of $375.71.
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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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