Heritage Investors Management Corp Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

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Heritage Investors Management Corp decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,868 shares of the Internet television network’s stock after selling 90 shares during the period. Heritage Investors Management Corp’s holdings in Netflix were worth $500,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NFLX. Vanguard Group Inc. lifted its position in Netflix by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 32,688,805 shares of the Internet television network’s stock valued at $12,007,252,000 after acquiring an additional 1,118,349 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Netflix by 1.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,748,186 shares of the Internet television network’s stock valued at $5,784,623,000 after acquiring an additional 297,582 shares in the last quarter. Baillie Gifford & Co. increased its stake in Netflix by 2.2% in the 2nd quarter. Baillie Gifford & Co. now owns 7,743,499 shares of the Internet television network’s stock valued at $2,844,343,000 after buying an additional 163,289 shares during the last quarter. Invesco Ltd. increased its stake in Netflix by 39.1% in the 2nd quarter. Invesco Ltd. now owns 7,249,377 shares of the Internet television network’s stock valued at $2,662,841,000 after buying an additional 2,039,046 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Netflix by 1.3% in the 2nd quarter. Northern Trust Corp now owns 5,011,246 shares of the Internet television network’s stock valued at $1,840,730,000 after buying an additional 62,742 shares during the last quarter. 79.29% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price target on shares of Netflix from $450.00 to $400.00 and set an “overweight” rating on the stock in a research note on Monday, October 14th. Pivotal Research decreased their price target on shares of Netflix from $515.00 to $350.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Piper Jaffray Companies decreased their price target on shares of Netflix from $440.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Nomura boosted their price objective on shares of Netflix from $310.00 to $330.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $400.00 price target on shares of Netflix in a report on Thursday, October 17th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $369.54.

In other Netflix news, CEO Reed Hastings sold 43,372 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $266.57, for a total transaction of $11,561,674.04. Following the transaction, the chief executive officer now directly owns 43,372 shares of the company’s stock, valued at approximately $11,561,674.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 135,702 shares of company stock worth $38,290,015. Insiders own 4.29% of the company’s stock.

Shares of NASDAQ NFLX traded up $2.61 during mid-day trading on Monday, hitting $294.18. The stock had a trading volume of 3,945,002 shares, compared to its average volume of 8,164,076. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.73 and a current ratio of 0.73. Netflix, Inc. has a 1 year low of $231.23 and a 1 year high of $385.99. The business has a 50 day moving average price of $277.34 and a two-hundred day moving average price of $322.25. The firm has a market cap of $126.11 billion, a P/E ratio of 109.77, a price-to-earnings-growth ratio of 2.88 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last issued its earnings results on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, topping the consensus estimate of $1.05 by $0.42. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.25 billion. Netflix had a net margin of 7.49% and a return on equity of 23.65%. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 earnings per share. Equities research analysts predict that Netflix, Inc. will post 3.33 EPS for the current fiscal year.

Netflix 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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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