Economy

Earnings on the Doorstep For Netflix, Inc

Earnings on the Doorstep For Netflix, Inc

(NASDAQ:NFLX) stock may see increased volatility following the report. 5,561,263 shares of the company traded hands. It is positive, as 55 investors sold Netflix, Inc. shares while 228 reduced holdings. Abner Herrman & Brock LLC acquired a new stake in Netflix during the second quarter valued at about $3,036,000. It also increased its holding in Powershares Act Mang Comm Fd by 82,364 shares in the quarter, for a total of 276,115 shares, and has risen its stake in Vereit Inc. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network's stock valued at $107,000 after buying an additional 706 shares during the period.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, April 17th. Ltd. now owns 770 shares of the Internet television network's stock worth $114,000 after buying an additional 150 shares during the last quarter. Finally, Kentucky Retirement Systems acquired a new stake in Netflix during the fourth quarter valued at approximately $3,855,000. CENTRAL TRUST Co now owns 849 shares of the Internet television network's stock worth $125,000 after buying an additional 682 shares during the period. And the stock would have gone higher, but it hit some turbulence after the company missed first-quarter subscriber growth estimates. Blue Ridge Ltd Llc has invested 2.16% of its portfolio in Netflix, Inc.

Netflix (NFLX) opened at 161.12 on Monday. The firm's 50 day moving average price is $157.80 and its 200-day moving average price is $144.87.

Netflix, Inc. has a 52 week low of $84.50 and a 52 week high of $166.87. The company has a market cap of $69.04 billion, a P/E ratio of 207.217 and a beta of 0.99.

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Netflix moved more content into the second quarter because the company believes a heavier content slate would boost a traditionally slow quarter. The Internet television network reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03.

Analysts are looking for second-quarter earnings of $0.16 per share on revenue of $2.76 billion. HASTINGS REED sold $12.05 million worth of Netflix, Inc. The company's revenue was up 34.7% on a year-over-year basis. During the same period past year, the business posted $0.06 EPS. Equities research analysts expect that Netflix will post $1.05 EPS for the current year.

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AO Asset Management LLC decreased its position in Netflix, Inc.

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Shares of Netflix were last trading up almost 1% at $162.70, with a consensus analyst price target of $160.68 and a 52-week range of $84.50 to $166.87.

Jefferies has a Hold rating with a $141 price target. On Thursday, June 29 the stock rating was maintained by RBC Capital Markets with "Buy". Loop Capital reaffirmed a "buy" rating and set a $167.00 target price (up previously from $159.00) on shares of Netflix in a research note on Monday, March 20th. Sii Investments Inc sold 3,449 shares as the company's stock rose 10.41% with the market. Credit Suisse Group set a $154.00 target price on Netflix and gave the stock a "neutral" rating in a research note on Tuesday, July 11th.

In other news, insider Gregory K. Peters sold 6,853 shares of the firm's stock in a transaction dated Tuesday, May 30th. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 1,000 shares of the company's stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $145.38, for a total transaction of $290,760.00. Following the completion of the sale, the director now directly owns 8,012 shares of the company's stock, valued at approximately $1,164,784.56. The disclosure for this sale can be found here.

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