Brookstone Capital Management Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

Brookstone Capital Management reduced its position in Netflix, Inc. (NASDAQ:NFLXGet Rating) by 27.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,824 shares of the Internet television network’s stock after selling 2,561 shares during the period. Brookstone Capital Management’s holdings in Netflix were worth $1,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NFLX. CapWealth Advisors LLC purchased a new position in Netflix during the first quarter valued at $2,949,000. Creative Financial Designs Inc. ADV lifted its position in Netflix by 50.5% during the first quarter. Creative Financial Designs Inc. ADV now owns 495 shares of the Internet television network’s stock valued at $185,000 after purchasing an additional 166 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of Netflix by 3.6% in the first quarter. Gabelli Funds LLC now owns 95,567 shares of the Internet television network’s stock valued at $35,798,000 after acquiring an additional 3,300 shares in the last quarter. Arden Trust Co lifted its position in shares of Netflix by 31.8% in the first quarter. Arden Trust Co now owns 2,478 shares of the Internet television network’s stock valued at $928,000 after acquiring an additional 598 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Netflix by 31.1% in the first quarter. Allworth Financial LP now owns 8,011 shares of the Internet television network’s stock valued at $3,001,000 after acquiring an additional 1,902 shares in the last quarter. 75.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on NFLX shares. Piper Sandler boosted their price objective on Netflix from $210.00 to $215.00 and gave the company a “neutral” rating in a research report on Wednesday, July 20th. Barclays lowered their price objective on Netflix from $275.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 6th. Credit Suisse Group lowered their price objective on Netflix from $350.00 to $263.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 20th. Morgan Stanley lifted their target price on Netflix from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 20th. Finally, Jefferies Financial Group reduced their target price on Netflix from $243.00 to $230.00 in a report on Wednesday, September 7th. Six analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $305.67.

Netflix Price Performance

NASDAQ NFLX opened at $236.87 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s fifty day moving average price is $227.10 and its 200 day moving average price is $241.44. Netflix, Inc. has a 1 year low of $162.71 and a 1 year high of $700.99. The company has a market cap of $105.34 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.69 and a beta of 1.34.

Netflix (NASDAQ:NFLXGet Rating) last announced its quarterly earnings results on Tuesday, July 19th. The Internet television network reported $3.20 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.30. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $8.03 billion. Netflix had a return on equity of 30.07% and a net margin of 16.42%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $2.97 EPS. As a group, equities research analysts forecast that Netflix, Inc. will post 10.04 earnings per share for the current year.

Netflix Company Profile

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

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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