Lourd Capital LLC Purchase Shares of 3,259 Netflix, Inc. (NFLX)

Lourd Capital LLC Purchase Shares of 3,259 Netflix, Inc. (NFLX)

Lourd Capital LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 3rd quarter, HoldingsChannel reports. The fund purchased 3,259 shares of the Internet television network’s stock, valued at approximately $1,219,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Gravity Wealth Inc. acquired a new position in shares of Netflix in the first quarter valued at $326,000. BB&T Securities LLC increased its holdings in shares of Netflix by 11.9% in the first quarter. BB&T Securities LLC now owns 12,958 shares of the Internet television network’s stock valued at $3,826,000 after purchasing an additional 1,383 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of Netflix by 10.1% in the first quarter. Baird Financial Group Inc. now owns 7,216 shares of the Internet television network’s stock valued at $2,131,000 after purchasing an additional 660 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Netflix by 18.3% in the first quarter. Nuveen Asset Management LLC now owns 20,361 shares of the Internet television network’s stock valued at $6,014,000 after purchasing an additional 3,148 shares during the last quarter. Finally, Baker Avenue Asset Management LP acquired a new position in shares of Netflix in the first quarter valued at $245,000. 73.76% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have commented on the stock. UBS Group downgraded shares of Netflix from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $425.00 to $237.00 in a report on Wednesday, July 11th. Credit Suisse Group reiterated a “neutral” rating and issued a $330.00 price objective on shares of Netflix in a report on Thursday, June 21st. JPMorgan Chase & Co. restated a “buy” rating and issued a $385.00 price target on shares of Netflix in a research note on Wednesday, July 11th. Pivotal Research upped their price target on shares of Netflix from $420.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, June 21st. Finally, Nomura began coverage on shares of Netflix in a research note on Tuesday, July 10th. They issued a “neutral” rating and a $370.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirty-one have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $355.69.

NFLX stock opened at $355.71 on Wednesday. The stock has a market capitalization of $162.92 billion, a PE ratio of 284.57, a P/E/G ratio of 4.67 and a beta of 0.89. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.54 and a quick ratio of 1.54. Netflix, Inc. has a 12 month low of $178.38 and a 12 month high of $423.21.

Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 16th. The Internet television network reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Netflix had a net margin of 7.13% and a return on equity of 25.66%. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 earnings per share. As a group, analysts anticipate that Netflix, Inc. will post 2.67 EPS for the current year.

In other news, CFO David B. Wells sold 1,000 shares of the stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $399.01, for a total value of $399,010.00. Following the completion of the transaction, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $399,010. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Reed Hastings sold 99,883 shares of the stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $368.25, for a total transaction of $36,781,914.75. Following the completion of the transaction, the chief executive officer now directly owns 99,883 shares of the company’s stock, valued at approximately $36,781,914.75. The disclosure for this sale can be found here. Insiders sold 420,078 shares of company stock valued at $149,517,774 in the last three months. Company insiders own 4.29% of the company’s stock.

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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