First Midwest Bank Trust Division Reduces Stake in Netflix, Inc. (NFLX)

First Midwest Bank Trust Division cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 74.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,746 shares of the Internet television network’s stock after selling 8,058 shares during the period. First Midwest Bank Trust Division’s holdings in Netflix were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. increased its stake in 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 stake in 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 worth $245,000 after buying an additional 11 shares during the last quarter. M Holdings Securities Inc. increased its stake in Netflix by 0.5% in the first quarter. M Holdings Securities Inc. now owns 2,467 shares of the Internet television network’s stock worth $365,000 after buying an additional 12 shares during the last quarter. Heritage Investors Management Corp increased its stake in Netflix by 0.6% in the second quarter. Heritage Investors Management Corp now owns 1,995 shares of the Internet television network’s stock worth $298,000 after buying an additional 12 shares during the last quarter. Finally, Northwest Wealth Management LLC increased its stake 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 market capitalization of $71.90 billion, a PE ratio of 202.60 and a beta of 1.02. The stock has a 50 day moving average price of $170.82 and a 200 day moving average price of $154.74. Netflix, Inc. has a 12 month low of $93.26 and a 12 month high of $191.50.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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 firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. On average, equities research analysts forecast that Netflix, Inc. will post $1.19 earnings per share for the current fiscal year.

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A number of research firms have recently weighed in on NFLX. UBS AG reiterated a “buy” rating and set a $175.00 target price on shares of Netflix in a research report on Monday, May 15th. BMO Capital Markets reiterated a “market perform” rating and set a $180.00 target price (up from $150.00) on shares of Netflix in a research report on Tuesday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research report on Tuesday, July 18th. Bank of America Corporation reiterated a “buy” rating and set a $199.00 target price (up from $184.00) on shares of Netflix in a research report on Tuesday, July 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $200.00 target price on shares of Netflix in a research report on Wednesday. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $175.12.

In other news, insider Neil D. Hunt sold 25,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $163.52, for a total transaction of $4,088,000.00. Following the completion of the transaction, the insider now owns 484,952 shares in the company, valued at $79,299,351.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Reed Hastings sold 101,815 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $157.13, for a total value of $15,998,190.95. Following the transaction, the chief executive officer now owns 101,815 shares of the company’s stock, valued at approximately $15,998,190.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 389,801 shares of company stock valued at $64,889,201. Company insiders own 4.90% of the company’s stock.

Netflix Company Profile

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.

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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