Ao Asset Management Exits Position in Netflix (NFLX)

Netflix (NFLX) : Ao Asset Management has sold out all of its stake in Netflix during the most recent quarter, according to the disclosure filed by the company on Aug 3, 2016 with the SEC. The investment management company has sold out 114,000 shares of Netflix which is valued at $10,613,400.

Other Hedge Funds, Including , Utah Retirement Systems reduced its stake in NFLX by selling 1,600 shares or 2.1% in the most recent quarter. The Hedge Fund company now holds 74,724 shares of NFLX which is valued at $6,956,804. Netflix makes up approx 0.18% of Utah Retirement Systems’s portfolio.Tocqueville Asset Management reduced its stake in NFLX by selling 58,400 shares or 75.93% in the most recent quarter. The Hedge Fund company now holds 18,515 shares of NFLX which is valued at $1,689,494. Netflix makes up approx 0.02% of Tocqueville Asset Management’s portfolio. Chicago Equity Partners added NFLX to its portfolio by purchasing 3,575 company shares during the most recent quarter which is valued at $326,219. Netflix makes up approx 0.01% of Chicago Equity Partners’s portfolio.Gemmer Asset Management boosted its stake in NFLX in the latest quarter, The investment management firm added 28 additional shares and now holds a total of 276 shares of Netflix which is valued at $23,706. Netflix makes up approx 0.01% of Gemmer Asset Management’s portfolio.Appropriate Balance Financial Services boosted its stake in NFLX in the latest quarter, The investment management firm added 244 additional shares and now holds a total of 5,121 shares of Netflix which is valued at $493,818. Netflix makes up approx 0.32% of Appropriate Balance Financial Services’s portfolio.

Netflix closed down -1.92 points or -1.98% at $95.11 with 1,01,35,401 shares getting traded on Monday. Post opening the session at $95.91, the shares hit an intraday low of $94 and an intraday high of $95.93 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Netflix reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $0.02. The company had revenue of $1966.00 million for the quarter, compared to analysts expectations of $2109.96 million. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.

Many Wall Street Analysts have commented on Netflix. Shares were Reiterated by MKM Partners on Jul 20, 2016 to “Buy” and Lowered the Price Target to $ 130 from a previous price target of $145 .Shares were Reiterated by Mizuho on Jul 19, 2016 to “Neutral” and Lowered the Price Target to $ 90 from a previous price target of $109 .Shares were Reiterated by FBR Capital on Jul 19, 2016 to “Mkt Perform” and Lowered the Price Target to $ 90 from a previous price target of $104 .

Netflix Inc. is a provider of Internet television network. The Company has over 57 million streaming members in over 50 countries. Its members can watch more than two billion hours of television (TV) shows and movies per month including original series documentaries and feature films on Internet-connected screen. The Company has three operating segments: Domestic streaming International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content. The Domestic DVD segment derives revenues from monthly membership fees for services consisting of DVD-by-mail. Its members can play pause and resume watching all without commercials or commitments. Additionally in the United States its members can receive DVDs to their homes. The Company offers streaming service both domestically and internationally.

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