Netflix, Inc. (NFLX) Stake Boosted by Quest Investment Management LLC

Quest Investment Management LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 35.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,794 shares of the Internet television network’s stock after acquiring an additional 7,868 shares during the period. Quest Investment Management LLC’s holdings in Netflix were worth $11,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas increased its position in shares of Netflix by 2.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 146,035 shares of the Internet television network’s stock valued at $57,162,000 after acquiring an additional 3,599 shares during the period. Mackay Shields LLC increased its position in shares of Netflix by 3.0% in the 2nd quarter. Mackay Shields LLC now owns 169,338 shares of the Internet television network’s stock valued at $66,284,000 after acquiring an additional 4,917 shares during the period. Rhumbline Advisers increased its position in shares of Netflix by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 717,831 shares of the Internet television network’s stock valued at $280,981,000 after acquiring an additional 17,866 shares during the period. Cypress Wealth Services LLC acquired a new position in shares of Netflix in the 2nd quarter valued at $255,000. Finally, Meridian Wealth Management LLC increased its position in shares of Netflix by 25.9% in the 2nd quarter. Meridian Wealth Management LLC now owns 27,728 shares of the Internet television network’s stock valued at $10,854,000 after acquiring an additional 5,702 shares during the period. 76.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Netflix stock opened at $345.87 on Friday. The stock has a market capitalization of $152.13 billion, a P/E ratio of 159.52, a P/E/G ratio of 4.33 and a beta of 0.76. Netflix, Inc. has a twelve month low of $164.23 and a twelve month high of $423.21. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.54 and a current ratio of 1.54.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 16th. The Internet television network reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.05. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.94 billion. Netflix had a net margin of 7.13% and a return on equity of 25.66%. Netflix’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS. sell-side analysts forecast that Netflix, Inc. will post 2.69 EPS for the current year.

In other Netflix news, insider Gregory K. Peters sold 7,133 shares of the firm’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $350.00, for a total value of $2,496,550.00. Following the transaction, the insider now directly owns 20,223 shares of the company’s stock, valued at approximately $7,078,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $420.57, for a total transaction of $294,399.00. Following the completion of the transaction, the director now directly owns 7,393 shares in the company, valued at $3,109,274.01. The disclosure for this sale can be found here. Insiders sold a total of 434,027 shares of company stock worth $158,902,715 over the last three months. Corporate insiders own 4.29% of the company’s stock.

Several equities analysts recently issued reports on NFLX shares. Royal Bank of Canada reissued a “buy” rating and issued a $360.00 target price on shares of Netflix in a research report on Friday, June 1st. UBS Group downgraded Netflix from a “buy” rating to a “neutral” rating and cut their target price for the company from $425.00 to $237.00 in a research report on Wednesday, July 11th. Goldman Sachs Group reissued a “$375.13” rating and issued a $470.00 target price on shares of Netflix in a research report on Wednesday, July 18th. Zacks Investment Research downgraded Netflix from a “buy” rating to a “hold” rating in a research report on Thursday, April 19th. Finally, SunTrust Banks increased their price target on Netflix from $270.00 to $415.00 and gave the stock a “hold” rating in a research report on Friday, July 13th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirty-one have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $347.19.

Netflix Company Profile

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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