Kornitzer Capital Management Inc. KS Sells 37 Shares of Netflix, Inc. (NASDAQ:NFLX)

Kornitzer Capital Management Inc. KS reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,561 shares of the Internet television network’s stock after selling 37 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Netflix were worth $5,778,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NFLX. M&G Plc bought a new position in Netflix during the first quarter worth $9,682,000. BSN CAPITAL PARTNERS Ltd raised its position in shares of Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after buying an additional 49,000 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of Netflix in the fourth quarter valued at about $9,513,000. Summitry LLC grew its position in Netflix by 12.2% during the fourth quarter. Summitry LLC now owns 69,543 shares of the Internet television network’s stock worth $33,859,000 after buying an additional 7,579 shares in the last quarter. Finally, Bedel Financial Consulting Inc. bought a new position in Netflix during the fourth quarter valued at about $224,000. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on NFLX shares. Citigroup raised their price objective on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. KeyCorp boosted their price target on shares of Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Argus raised their price objective on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Redburn Atlantic upped their target price on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $685.29.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,835,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Insiders sold a total of 157,831 shares of company stock worth $102,721,884 in the last quarter. 1.76% of the stock is owned by company insiders.

Netflix Stock Up 0.6 %

Shares of NFLX opened at $683.62 on Friday. The business’s fifty day moving average price is $660.07 and its two-hundred day moving average price is $633.26. The firm has a market capitalization of $294.64 billion, a price-to-earnings ratio of 47.44, a PEG ratio of 1.44 and a beta of 1.27. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $711.33. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.29 earnings per share. On average, analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.