Harwood Advisory Group Lowers stake in Netflix (NFLX)

Netflix (NFLX) : Harwood Advisory Group reduced its stake in Netflix by 14.0% during the most recent quarter end. The investment management company now holds a total of 5,100 shares of Netflix which is valued at $517,497 after selling 830 shares in Netflix , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Netflix makes up approximately 0.41% of Harwood Advisory Group’s portfolio.

Other Hedge Funds, Including , Harbour Capital Advisors sold out all of its stake in NFLX during the most recent quarter. The investment firm sold 4,250 shares of NFLX which is valued $425,978.Atria Investments reduced its stake in NFLX by selling 624 shares or 18.67% in the most recent quarter. The Hedge Fund company now holds 2,718 shares of NFLX which is valued at $273,404. Netflix makes up approx 0.03% of Atria Investments’s portfolio. Fisher Asset Management added NFLX to its portfolio by purchasing 2,323 company shares during the most recent quarter which is valued at $240,036.

Netflix opened for trading at $101.59 and hit $102.099 on the upside on Friday, eventually ending the session at $101.47, with a gain of 1.24% or 1.24 points. The heightened volatility saw the trading volume jump to 95,31,056 shares. Company has a market cap of $43,503 M.

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. Deutsche Bank Initiated Netflix on Oct 10, 2016 to “Sell”, Price Target of the shares are set at $90.Company shares were Reiterated by JP Morgan on Sep 27, 2016 to “Overweight”, Firm has raised the Price Target to $ 125 from a previous price target of $116 .Netflix was Downgraded by Macquarie to ” Underperform” on Sep 13, 2016.

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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