Dearborn Partners LLC Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Dearborn Partners LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 32.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 972 shares of the Internet television network’s stock after purchasing an additional 238 shares during the period. Dearborn Partners LLC’s holdings in Netflix were worth $442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Pearl River Capital LLC bought a new position in Netflix in the 4th quarter worth $221,000. Macquarie Group Ltd. raised its holdings in Netflix by 3.8% in the 4th quarter. Macquarie Group Ltd. now owns 421,283 shares of the Internet television network’s stock worth $136,315,000 after purchasing an additional 15,592 shares during the period. Global Trust Asset Management LLC bought a new position in Netflix in the 1st quarter worth $821,000. State of Alaska Department of Revenue raised its holdings in Netflix by 6.1% in the 1st quarter. State of Alaska Department of Revenue now owns 76,382 shares of the Internet television network’s stock worth $28,680,000 after purchasing an additional 4,363 shares during the period. Finally, Gradient Investments LLC raised its holdings in Netflix by 6.7% in the 1st quarter. Gradient Investments LLC now owns 10,040 shares of the Internet television network’s stock worth $3,770,000 after purchasing an additional 628 shares during the period. Institutional investors and hedge funds own 82.30% of the company’s stock.

A number of research firms have commented on NFLX. Raymond James cut Netflix from a “strong-buy” rating to an “outperform” rating and raised their price target for the company from $415.00 to $480.00 in a report on Wednesday, April 22nd. Needham & Company LLC reissued a “sell” rating on shares of Netflix in a report on Friday, July 17th. Jefferies Financial Group raised their price target on Netflix from $520.00 to $550.00 and gave the company a “buy” rating in a report on Friday, July 17th. BidaskClub raised Netflix from a “hold” rating to a “buy” rating in a report on Wednesday, June 24th. Finally, Monness Crespi & Hardt raised their price target on Netflix from $500.00 to $600.00 and gave the company a “buy” rating in a report on Friday, July 17th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Netflix currently has a consensus rating of “Hold” and a consensus price target of $483.56.

Shares of NFLX traded up $3.08 during midday trading on Friday, reaching $488.88. The stock had a trading volume of 5,924,310 shares, compared to its average volume of 10,512,042. Netflix, Inc. has a 1-year low of $252.28 and a 1-year high of $575.37. The company’s fifty day simple moving average is $476.08 and its two-hundred day simple moving average is $407.12. The company has a market cap of $215.60 billion, a price-to-earnings ratio of 82.44, a PEG ratio of 2.59 and a beta of 0.96. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.12 and a quick ratio of 1.12.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 16th. The Internet television network reported $1.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.81 by ($0.22). Netflix had a return on equity of 33.32% and a net margin of 11.85%. The company had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.08 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, sell-side analysts forecast that Netflix, Inc. will post 6.28 earnings per share for the current year.

In other Netflix news, CEO Reed Hastings sold 53,193 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $449.23, for a total transaction of $23,895,891.39. Following the transaction, the chief executive officer now directly owns 53,193 shares of the company’s stock, valued at approximately $23,895,891.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne M. Sweeney sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $450.00, for a total transaction of $675,000.00. Following the transaction, the director now directly owns 300 shares in the company, valued at $135,000. The disclosure for this sale can be found here. Insiders have sold a total of 189,612 shares of company stock worth $90,145,458 over the last three months. 3.40% of the stock is currently owned by insiders.

Netflix 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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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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