Netflix, Inc. (NFLX) Short Interest Down 3.9% in May

Netflix, Inc. (NASDAQ:NFLX) was the target of a large decline in short interest in May. As of May 31st, there was short interest totalling 27,480,853 shares, a decline of 3.9% from the May 15th total of 28,589,387 shares. Approximately 6.6% of the company’s stock are short sold. Based on an average trading volume of 5,109,908 shares, the days-to-cover ratio is presently 5.4 days.

In related news, CEO Reed Hastings sold 101,815 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $157.13, for a total value of $15,998,190.95. Following the sale, the chief executive officer now directly owns 101,815 shares of the company’s stock, valued at approximately $15,998,190.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Barton sold 2,000 shares of the business’s stock in a transaction on Friday, April 7th. The shares were sold at an average price of $143.90, for a total transaction of $287,800.00. Following the completion of the sale, the director now directly owns 8,012 shares in the company, valued at $1,152,926.80. The disclosure for this sale can be found here. Insiders sold a total of 404,383 shares of company stock worth $60,894,497 over the last ninety days. 4.90% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its position in shares of Netflix by 0.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,134 shares of the Internet television network’s stock worth $168,000 after buying an additional 9 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of Netflix by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock worth $245,000 after buying an additional 11 shares during the last quarter. Linscomb & Williams Inc. boosted its position in shares of Netflix by 0.9% in the fourth quarter. Linscomb & Williams Inc. now owns 3,269 shares of the Internet television network’s stock worth $405,000 after buying an additional 29 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Netflix by 0.5% in the fourth quarter. Wetherby Asset Management Inc. now owns 5,979 shares of the Internet television network’s stock worth $740,000 after buying an additional 32 shares during the last quarter. Finally, Formidable Asset Management LLC boosted its position in shares of Netflix by 0.8% in the fourth quarter. Formidable Asset Management LLC now owns 4,695 shares of the Internet television network’s stock worth $582,000 after buying an additional 36 shares during the last quarter. Institutional investors own 82.78% of the company’s stock.

Several brokerages have issued reports on NFLX. Instinet reiterated a “buy” rating on shares of Netflix in a research note on Friday, June 2nd. Bank of America Corporation reiterated a “buy” rating and issued a $184.00 price target (up from $154.00) on shares of Netflix in a research note on Tuesday, April 18th. Zacks Investment Research lowered shares of Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, March 7th. Pacific Crest reiterated an “overweight” rating and issued a $170.00 price target on shares of Netflix in a research note on Friday, April 7th. Finally, Loop Capital reiterated a “buy” rating and issued a $167.00 price target (up from $159.00) on shares of Netflix in a research note on Monday, March 20th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $148.44.

Netflix (NFLX) opened at 152.38 on Friday. The company’s 50 day moving average is $158.44 and its 200-day moving average is $142.71. The company has a market capitalization of $65.67 billion, a price-to-earnings ratio of 197.13 and a beta of 0.96. Netflix has a 52-week low of $84.50 and a 52-week high of $166.87.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, April 17th. The Internet television network reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Netflix had a net margin of 3.55% and a return on equity of 12.73%. Netflix’s revenue was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 EPS. Equities analysts anticipate that Netflix will post $1.04 EPS for the current fiscal year.

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Netflix Company Profile

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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