Essex Savings Bank Sells 203 Shares of Netflix, Inc. (NASDAQ:NFLX)

Share on StockTwits

Essex Savings Bank reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 18.7% in the second quarter, Holdings Channel.com reports. The fund owned 882 shares of the Internet television network’s stock after selling 203 shares during the quarter. Essex Savings Bank’s holdings in Netflix were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NFLX. BKD Wealth Advisors LLC raised its stake in Netflix by 14.6% in the second quarter. BKD Wealth Advisors LLC now owns 1,217 shares of the Internet television network’s stock valued at $554,000 after purchasing an additional 155 shares in the last quarter. Chesley Taft & Associates LLC purchased a new stake in Netflix in the second quarter valued at approximately $219,000. Consolidated Capital Management LLC raised its stake in Netflix by 6.5% in the first quarter. Consolidated Capital Management LLC now owns 13,930 shares of the Internet television network’s stock valued at $5,231,000 after purchasing an additional 846 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Netflix by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 78,336 shares of the Internet television network’s stock worth $35,646,000 after acquiring an additional 1,814 shares in the last quarter. Finally, TCI Wealth Advisors Inc. raised its stake in shares of Netflix by 24.1% during the second quarter. TCI Wealth Advisors Inc. now owns 170 shares of the Internet television network’s stock worth $77,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 82.30% of the company’s stock.

In other news, Director Leslie J. Kilgore sold 1,481 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $485.57, for a total transaction of $719,129.17. Following the transaction, the director now owns 35,643 shares in the company, valued at $17,307,171.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anne M. Sweeney sold 1,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $450.00, for a total value of $675,000.00. Following the transaction, the director now owns 300 shares in the company, valued at approximately $135,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,612 shares of company stock worth $90,145,458. 3.40% of the stock is currently owned by company insiders.

Several research analysts have commented on the stock. Pivotal Research reissued a “buy” rating and set a $600.00 price target (up from $580.00) on shares of Netflix in a research note on Friday, July 17th. Barclays lifted their price target on shares of Netflix from $420.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Jefferies Financial Group lifted their price target on shares of Netflix from $520.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Wells Fargo & Co reissued a “hold” rating and set a $470.00 price target (up from $460.00) on shares of Netflix in a research note on Friday, July 17th. Finally, DZ Bank reissued a “sell” rating on shares of Netflix in a research note on Friday, July 17th. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $483.56.

Shares of NFLX stock traded up $3.08 during mid-day trading on Friday, reaching $488.88. 5,924,310 shares of the company’s stock traded hands, compared to its average volume of 10,512,042. Netflix, Inc. has a 12 month low of $252.28 and a 12 month high of $575.37. The company has a market cap of $214.25 billion, a P/E ratio of 82.44, a P/E/G ratio of 2.58 and a beta of 0.96. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.64. The company’s 50-day moving average price is $476.08 and its 200-day moving average price is $407.12.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 16th. The Internet television network reported $1.59 EPS for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.22). The business had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.08 billion. Netflix had a net margin of 11.85% and a return on equity of 33.32%. During the same quarter last year, the firm posted $0.60 EPS. Equities analysts predict that Netflix, Inc. will post 6.28 earnings per share for the current year.

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.

Recommended Story: Support Level

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX).

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.