Lord Abbett & CO. LLC lowered its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 27.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 429,026 shares of the Internet television network’s stock after selling 166,100 shares during the quarter. Lord Abbett & CO. LLC owned 0.10% of Netflix worth $64,101,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Almanack Investment Partners LLC. bought a new position in Netflix during the second quarter valued at $101,000. TD Capital Management LLC bought a new position in Netflix during the second quarter valued at $105,000. SRS Capital Advisors Inc. lifted its position in Netflix by 3,361.9% during the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after purchasing an additional 706 shares during the last quarter. Harfst & Associates Inc. bought a new position in Netflix during the first quarter valued at $109,000. Finally, Aviance Capital Management LLC bought a new position in Netflix during the second quarter valued at $137,000. Institutional investors and hedge funds own 81.02% of the company’s stock.
Shares of Netflix, Inc. (NFLX) traded down 2.00% during mid-day trading on Wednesday, reaching $195.50. 4,513,526 shares of the company traded hands. Netflix, Inc. has a 52-week low of $98.38 and a 52-week high of $200.82. The firm’s 50 day moving average price is $183.35 and its 200-day moving average price is $165.87. The company has a market capitalization of $84.41 billion, a P/E ratio of 237.83 and a beta of 1.09.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, October 16th. The Internet television network reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.97 billion. Netflix had a return on equity of 15.06% and a net margin of 4.04%. The business’s revenue was up 30.3% on a year-over-year basis. During the same period last year, the firm posted $0.12 earnings per share. Equities analysts predict that Netflix, Inc. will post $1.19 earnings per share for the current fiscal year.
Several research firms have commented on NFLX. SunTrust Banks, Inc. set a $175.00 price objective on shares of Netflix and gave the company a “hold” rating in a research report on Monday. UBS AG reiterated a “buy” rating and set a $237.00 price objective (up previously from $225.00) on shares of Netflix in a research report on Tuesday. BMO Capital Markets reiterated a “market perform” rating and set a $205.00 price objective (up previously from $195.00) on shares of Netflix in a research report on Tuesday. J P Morgan Chase & Co set a $242.00 price objective on shares of Netflix and gave the company a “buy” rating in a research report on Tuesday. Finally, Oppenheimer Holdings, Inc. increased their price objective on shares of Netflix from $215.00 to $245.00 and gave the company an “outperform” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty-three have assigned a buy rating to the company’s stock. Netflix has an average rating of “Buy” and a consensus target price of $199.03.
In related news, insider Jonathan Friedland sold 3,617 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $203.35, for a total transaction of $735,516.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $165.72, for a total value of $331,440.00. Following the transaction, the director now directly owns 8,012 shares in the company, valued at $1,327,748.64. The disclosure for this sale can be found here. Insiders have sold a total of 305,288 shares of company stock worth $55,168,715 over the last three months. 4.90% of the stock is currently owned by corporate insiders.
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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