Netflix, Inc. (NFLX) Stake Cut by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,450 shares of the Internet television network’s stock after selling 520 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Netflix were worth $2,906,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Clean Yield Group acquired a new stake in Netflix during the first quarter worth $103,000. TD Capital Management LLC acquired a new stake in Netflix during the second quarter worth $105,000. SRS Capital Advisors Inc. raised its stake in Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock worth $107,000 after buying an additional 706 shares during the last quarter. Harfst & Associates Inc. acquired a new stake in Netflix during the first quarter worth $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Netflix by 24.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock worth $114,000 after buying an additional 150 shares during the last quarter. Institutional investors and hedge funds own 82.94% of the company’s stock.

Netflix, Inc. (NASDAQ NFLX) opened at 166.54 on Friday. The firm’s 50-day moving average price is $170.82 and its 200-day moving average price is $154.74. The firm has a market cap of $71.90 billion, a price-to-earnings ratio of 202.60 and a beta of 1.02. Netflix, Inc. has a 1-year low of $93.26 and a 1-year high of $191.50.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. Netflix’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. On average, equities research analysts anticipate that Netflix, Inc. will post $1.19 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This piece was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://sportsperspectives.com/2017/08/20/netflix-inc-nflx-stake-cut-by-adell-harriman-carpenter-inc.html.

NFLX has been the topic of a number of recent analyst reports. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $170.00 target price on shares of Netflix in a research note on Tuesday, May 2nd. MKM Partners reiterated a “buy” rating and issued a $175.00 target price on shares of Netflix in a research note on Tuesday, April 25th. UBS AG reiterated a “buy” rating and issued a $175.00 target price on shares of Netflix in a research note on Monday, May 15th. Loop Capital reiterated a “buy” rating and issued a $180.00 target price (up previously from $172.00) on shares of Netflix in a research note on Tuesday, May 23rd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $165.00 target price on shares of Netflix in a research note on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $175.12.

In other news, Director Richard N. Barton sold 2,000 shares of Netflix stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $176.41, for a total value of $352,820.00. Following the completion of the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,413,396.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $156.62, for a total value of $156,620.00. Following the completion of the sale, the director now directly owns 8,012 shares of the company’s stock, valued at approximately $1,254,839.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 389,801 shares of company stock valued at $64,889,201. Company insiders own 4.90% of the company’s stock.

About Netflix

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.

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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

Latest News

Leave a Reply