Arrow Financial Corp raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,172 shares of the Internet television network’s stock after buying an additional 1,457 shares during the period. Netflix makes up about 1.1% of Arrow Financial Corp’s investment portfolio, making the stock its 23rd largest position. Arrow Financial Corp’s holdings in Netflix were worth $4,508,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of NFLX. Bronfman E.L. Rothschild L.P. increased its position in shares of Netflix by 0.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,134 shares of the Internet television network’s stock valued at $168,000 after buying an additional 9 shares during the period. Guardian Life Insurance Co. of America increased its position in shares of Netflix by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock valued at $245,000 after buying an additional 11 shares during the period. M Holdings Securities Inc. increased its position in shares of Netflix by 0.5% in the first quarter. M Holdings Securities Inc. now owns 2,467 shares of the Internet television network’s stock valued at $365,000 after buying an additional 12 shares during the period. Heritage Investors Management Corp increased its position in shares of Netflix by 0.6% in the second quarter. Heritage Investors Management Corp now owns 1,995 shares of the Internet television network’s stock valued at $298,000 after buying an additional 12 shares during the period. Finally, Northwest Wealth Management LLC increased its position in Netflix by 0.8% in the second quarter. Northwest Wealth Management LLC now owns 1,890 shares of the Internet television network’s stock worth $282,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 82.94% of the company’s stock.
Netflix, Inc. (NASDAQ:NFLX) opened at 166.54 on Friday. The stock has a 50 day moving average of $170.82 and a 200 day moving average of $154.74. Netflix, Inc. has a 1-year low of $93.26 and a 1-year high of $191.50. The stock has a market cap of $71.90 billion, a price-to-earnings ratio of 202.60 and a beta of 1.02.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The firm’s revenue was up 32.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 EPS. Equities analysts expect that Netflix, Inc. will post $1.19 earnings per share for the current year.
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NFLX has been the subject of a number of research reports. Vetr raised shares of Netflix from a “sell” rating to a “hold” rating and set a $165.75 price target for the company in a research note on Thursday, August 10th. MKM Partners restated a “buy” rating and issued a $195.00 price objective on shares of Netflix in a report on Monday, July 10th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Netflix in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $173.00 target price on the stock in a report on Thursday, July 13th. Finally, Piper Jaffray Companies increased their price target on shares of Netflix from $166.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $175.12.
In other Netflix news, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $176.41, for a total value of $352,820.00. Following the completion of the transaction, the director now owns 8,012 shares in the company, valued at approximately $1,413,396.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gregory K. Peters sold 6,853 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $164.29, for a total value of $1,125,879.37. Following the completion of the transaction, the insider now owns 19,943 shares of the company’s stock, valued at approximately $3,276,435.47. The disclosure for this sale can be found here. In the last 90 days, insiders sold 389,801 shares of company stock valued at $64,889,201. 4.90% of the stock is owned by company 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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