Light Street Capital Management Lowers stake in Netflix (NFLX)

Netflix (NFLX) : Light Street Capital Management reduced its stake in Netflix by 41.67% during the most recent quarter end. The investment management company now holds a total of 175,000 shares of Netflix which is valued at $16,903,250 after selling 125,000 shares in Netflix , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Netflix makes up approximately 2.56% of Light Street Capital Management’s portfolio.

Other Hedge Funds, Including , Capital World Investors boosted its stake in NFLX in the latest quarter, The investment management firm added 895,527 additional shares and now holds a total of 5,026,045 shares of Netflix which is valued at $485,465,687. Netflix makes up approx 0.13% of Capital World Investors’s portfolio.Sands Capital Management boosted its stake in NFLX in the latest quarter, The investment management firm added 1,487,065 additional shares and now holds a total of 7,913,628 shares of Netflix which is valued at $764,377,329. Netflix makes up approx 2.15% of Sands Capital Management’s portfolio.Advisors Asset Management reduced its stake in NFLX by selling 11,720 shares or 40.24% in the most recent quarter. The Hedge Fund company now holds 17,405 shares of NFLX which is valued at $1,668,965. Netflix makes up approx 0.03% of Advisors Asset Management’s portfolio.Advisory Services Network boosted its stake in NFLX in the latest quarter, The investment management firm added 706 additional shares and now holds a total of 5,415 shares of Netflix which is valued at $498,397. Netflix makes up approx 0.11% of Advisory Services Network’s portfolio.

Netflix closed down -0.07 points or -0.07% at $97.38 with 41,48,621 shares getting traded on Thursday. Post opening the session at $97.81, the shares hit an intraday low of $96.916 and an intraday high of $97.98 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. Axiom Capital Initiated Netflix on Aug 29, 2016 to “Sell”, Price Target of the shares are set at $80.Netflix was Upgraded by William Blair to ” Outperform” on Aug 25, 2016. 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 .

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *