Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,191 shares of the Internet television network’s stock after selling 3,285 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Netflix were worth $32,762,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Parkside Financial Bank & Trust lifted its holdings in Netflix by 5.4% in the first quarter. Parkside Financial Bank & Trust now owns 529 shares of the Internet television network’s stock worth $189,000 after buying an additional 27 shares during the period. Investment House LLC lifted its holdings in shares of Netflix by 3.1% during the first quarter. Investment House LLC now owns 954 shares of the Internet television network’s stock valued at $340,000 after purchasing an additional 29 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA lifted its holdings in shares of Netflix by 0.4% during the first quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 7,290 shares of the Internet television network’s stock valued at $2,599,000 after purchasing an additional 30 shares during the last quarter. Harfst & Associates Inc. lifted its holdings in shares of Netflix by 3.5% during the first quarter. Harfst & Associates Inc. now owns 992 shares of the Internet television network’s stock valued at $353,000 after purchasing an additional 34 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in shares of Netflix by 2.8% during the second quarter. Lindbrook Capital LLC now owns 1,259 shares of the Internet television network’s stock valued at $462,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

NASDAQ:NFLX traded down $6.30 during trading hours on Friday, reaching $309.60. The company had a trading volume of 4,710,410 shares, compared to its average volume of 9,909,769. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.85 and a current ratio of 0.85. Netflix, Inc. has a 52 week low of $231.23 and a 52 week high of $386.80. The stock has a market cap of $135.77 billion, a price-to-earnings ratio of 115.52, a price-to-earnings-growth ratio of 3.15 and a beta of 1.23. The company’s 50 day simple moving average is $349.18.

Netflix (NASDAQ:NFLX) last posted its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm’s revenue was up 26.0% on a year-over-year basis. On average, equities research analysts predict that Netflix, Inc. will post 3.28 earnings per share for the current year.

In other Netflix news, CEO Reed Hastings sold 55,342 shares of Netflix stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $309.54, for a total value of $17,130,562.68. Following the completion of the sale, the chief executive officer now owns 55,342 shares of the company’s stock, valued at approximately $17,130,562.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 1,208 shares of Netflix stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $375.00, for a total transaction of $453,000.00. Following the completion of the sale, the director now directly owns 357 shares of the company’s stock, valued at approximately $133,875. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,862 shares of company stock valued at $56,966,404. 4.29% of the stock is currently owned by insiders.

Several equities analysts have recently issued reports on NFLX shares. Imperial Capital lowered their target price on shares of Netflix from $463.00 to $458.00 and set an “outperform” rating for the company in a report on Friday, April 26th. BMO Capital Markets lowered their target price on shares of Netflix from $470.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Raymond James lowered their target price on shares of Netflix from $470.00 to $450.00 and set a “strong-buy” rating for the company in a report on Thursday, July 18th. Deutsche Bank lifted their target price on shares of Netflix to $371.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Finally, Citigroup lowered their target price on shares of Netflix from $420.00 to $410.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Netflix has an average rating of “Buy” and a consensus price target of $390.47.

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.

See Also: Cost of Goods Sold (COGS)

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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