Mission Wealth Management LP reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,184 shares of the Internet television network’s stock after selling 695 shares during the period. Mission Wealth Management LP’s holdings in Netflix were worth $2,725,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in NFLX. Vanguard Group Inc. boosted its position in shares of Netflix by 3.5% in the second quarter. Vanguard Group Inc. now owns 32,688,805 shares of the Internet television network’s stock valued at $12,007,252,000 after acquiring an additional 1,118,349 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Netflix by 1.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 15,748,186 shares of the Internet television network’s stock valued at $5,784,623,000 after acquiring an additional 297,582 shares during the period. Baillie Gifford & Co. boosted its position in shares of Netflix by 2.2% in the second quarter. Baillie Gifford & Co. now owns 7,743,499 shares of the Internet television network’s stock valued at $2,844,343,000 after acquiring an additional 163,289 shares during the period. Invesco Ltd. boosted its position in shares of Netflix by 39.1% in the second quarter. Invesco Ltd. now owns 7,249,377 shares of the Internet television network’s stock valued at $2,662,841,000 after acquiring an additional 2,039,046 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Netflix by 1.3% in the second quarter. Northern Trust Corp now owns 5,011,246 shares of the Internet television network’s stock valued at $1,840,730,000 after acquiring an additional 62,742 shares during the period. Hedge funds and other institutional investors own 78.98% of the company’s stock.
In other news, CEO Reed Hastings sold 55,342 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 55,342 shares of the company’s stock, valued at $17,130,562.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bradford L. Smith bought 6,499 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $308.49 per share, with a total value of $2,004,876.51. Following the acquisition, the director now directly owns 799 shares of the company’s stock, valued at approximately $246,483.51. The disclosure for this purchase can be found here. Insiders sold 150,983 shares of company stock valued at $44,378,164 in the last three months. Company insiders own 4.29% of the company’s stock.
Netflix (NASDAQ:NFLX) last posted its earnings results on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.42. The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share. On average, sell-side analysts forecast that Netflix, Inc. will post 3.23 earnings per share for the current fiscal year.
NFLX has been the subject of a number of recent research reports. Monness Crespi & Hardt reduced their target price on shares of Netflix from $440.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Huber Research cut shares of Netflix from an “overweight” rating to an “underweight” rating in a research report on Thursday. KeyCorp reissued a “hold” rating on shares of Netflix in a research report on Tuesday, September 24th. Needham & Company LLC reissued a “hold” rating on shares of Netflix in a research report on Thursday, October 3rd. Finally, Wells Fargo & Co boosted their target price on shares of Netflix from $288.00 to $308.00 and gave the company a “market perform” rating in a research report on Thursday. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $364.90.
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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