Essex Financial Services Inc. Acquires New Stake in Netflix, Inc. (NFLX)

Essex Financial Services Inc. acquired a new position in Netflix, Inc. (NASDAQ:NFLX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 598 shares of the Internet television network’s stock, valued at approximately $224,000.

Other hedge funds have also made changes to their positions in the company. Berkeley Capital Partners LLC increased its holdings in Netflix by 17.3% during the second quarter. Berkeley Capital Partners LLC now owns 1,008 shares of the Internet television network’s stock worth $273,000 after buying an additional 149 shares during the last quarter. Capstone Financial Advisors Inc. increased its holdings in Netflix by 17.8% during the second quarter. Capstone Financial Advisors Inc. now owns 1,006 shares of the Internet television network’s stock worth $394,000 after buying an additional 152 shares during the last quarter. Cornerstone Advisors Inc. increased its holdings in Netflix by 9.6% during the second quarter. Cornerstone Advisors Inc. now owns 1,740 shares of the Internet television network’s stock worth $681,000 after buying an additional 153 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its holdings in Netflix by 22.1% during the second quarter. Cobblestone Capital Advisors LLC NY now owns 855 shares of the Internet television network’s stock worth $335,000 after buying an additional 155 shares during the last quarter. Finally, Sound Income Strategies LLC increased its holdings in Netflix by 30.6% during the third quarter. Sound Income Strategies LLC now owns 675 shares of the Internet television network’s stock worth $253,000 after buying an additional 158 shares during the last quarter. 74.04% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO David B. Wells sold 1,000 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $339.53, for a total transaction of $339,530.00. Following the completion of the sale, the chief financial officer now owns 867 shares of the company’s stock, valued at $294,372.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy M. Haley sold 21,882 shares of the company’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $336.41, for a total transaction of $7,361,323.62. Following the sale, the director now directly owns 9,177 shares of the company’s stock, valued at approximately $3,087,234.57. The disclosure for this sale can be found here. In the last three months, insiders sold 335,842 shares of company stock valued at $113,900,463. 4.29% of the stock is currently owned by company insiders.

Shares of Netflix stock opened at $303.47 on Friday. The stock has a market capitalization of $142.82 billion, a PE ratio of 117.38, a price-to-earnings-growth ratio of 4.15 and a beta of 1.18. Netflix, Inc. has a 52-week low of $178.38 and a 52-week high of $423.21. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.39 and a quick ratio of 1.39.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.21. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Netflix had a net margin of 8.48% and a return on equity of 29.52%. Netflix’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 earnings per share. As a group, analysts anticipate that Netflix, Inc. will post 2.63 earnings per share for the current year.

A number of brokerages recently weighed in on NFLX. JPMorgan Chase & Co. restated a “buy” rating and set a $415.00 target price on shares of Netflix in a report on Tuesday, July 17th. BidaskClub downgraded shares of Netflix from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Credit Suisse Group reiterated a “buy” rating and issued a $470.00 price objective on shares of Netflix in a report on Monday, October 1st. B. Riley upped their price objective on shares of Netflix from $315.00 to $322.00 and gave the company a “buy” rating in a report on Wednesday, October 17th. Finally, Sanford C. Bernstein reiterated a “buy” rating and issued a $465.00 price objective on shares of Netflix in a report on Wednesday, October 17th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty-one have given a buy rating to the company’s stock. Netflix has a consensus rating of “Buy” and a consensus target price of $378.74.

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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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One Response

  1. steve says:

    Harsco ended its merger with Brand Energy. That was smart of Harsco. Now, they should look to recover money from Brand’s ex-CEO and the ex-GE people he brought in with him.

    The CEO of Brand was negligent. He didn’t act in good faith. He brought in his friends from GE and didn’t fire them no matter what. The ex-GE guy in Houston had to be shuffled all over the country because he was despised. He was called President of Business Development. He has the polish-looking last name and was sent to Houston from California in 2011. They had to keep him on the road all the time because he couldn’t get along with anyone. Can you imagine how much that cost the company? The ex-CEO also sent him around to meet with all kinds of companies even though he was extremely obnoxious. Can you imagine how many companies he scared away and how much money was lost due to that? The ex-CEO of Brand should be held liable for this.

    Watch out for ex-GE guys. They play politics and form cliques and are a major problem in corporate America. Clayton, Dubilier, and Rice owns Brand Energy. Brand was ruined by ex-GE guys like the former CEO and the “President of Business Development” in Houston. Were they doing their fiduciary duty? Brand’s investors need to investigate the former executives and their spending immediately. Blackrock and other big names are investors in the bonds of Brand Energy.

    Some executives have moved to a company called Total Safety. That company can be investigated next. It’s owned by Littlejohn LLC, the investment firm.

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