Picton Mahoney Asset Management Lowers Position in Netflix, Inc. (NFLX)

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Picton Mahoney Asset Management decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 38.1% in the third quarter, HoldingsChannel.com reports. The firm owned 20,700 shares of the Internet television network’s stock after selling 12,750 shares during the period. Picton Mahoney Asset Management’s holdings in Netflix were worth $7,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NFLX. Berkeley Capital Partners LLC raised its stake in Netflix by 17.3% in 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 in the last quarter. Capstone Financial Advisors Inc. raised its stake in Netflix by 17.8% in 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 in the last quarter. Cornerstone Advisors Inc. raised its stake in Netflix by 9.6% in 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 in the last quarter. Cobblestone Capital Advisors LLC NY raised its stake in Netflix by 22.1% in 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 in the last quarter. Finally, Sound Income Strategies LLC raised its stake in Netflix by 30.6% in 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 in the last quarter. Hedge funds and other institutional investors own 74.04% of the company’s stock.

A number of brokerages recently commented on NFLX. ValuEngine downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. Monness Crespi & Hardt reduced their price objective on shares of Netflix from $460.00 to $430.00 and set a “buy” rating for the company in a research note on Tuesday, July 17th. Sanford C. Bernstein reissued a “buy” rating and issued a $434.00 price objective on shares of Netflix in a research note on Tuesday, July 17th. Piper Jaffray Companies reissued an “overweight” rating on shares of Netflix in a research note on Tuesday, July 17th. Finally, Deutsche Bank downgraded shares of Netflix from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $360.00 to $350.00 in a research note on Tuesday, July 17th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-one have issued a buy rating to the company. Netflix has an average rating of “Buy” and a consensus price target of $378.74.

Shares of NFLX opened at $303.47 on Friday. The firm has a market cap of $142.82 billion, a PE ratio of 242.78, a P/E/G ratio of 4.15 and a beta of 1.18. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.39 and a current ratio of 1.39. Netflix, Inc. has a 1-year low of $178.38 and a 1-year high of $423.21.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.21. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.99 billion. Netflix had a net margin of 8.48% and a return on equity of 29.52%. The business’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share. Sell-side analysts anticipate that Netflix, Inc. will post 2.63 EPS for the current fiscal year.

In other news, Director Richard N. Barton sold 350 shares of the business’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $324.94, for a total transaction of $113,729.00. Following the sale, the director now directly owns 7,314 shares of the company’s stock, valued at $2,376,611.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Reed Hastings sold 105,868 shares of the business’s stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $328.75, for a total transaction of $34,804,105.00. Following the sale, the chief executive officer now directly owns 105,868 shares in the company, valued at $34,804,105. The disclosure for this sale can be found here. Insiders have sold 335,842 shares of company stock worth $113,900,463 over the last three months. Corporate insiders own 4.29% of the company’s stock.

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Netflix 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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