Andor Capital Management L.l.c. Lowers stake in Netflix (NFLX)

Netflix (NFLX) : Andor Capital Management L.l.c. reduced its stake in Netflix by 50.0% during the most recent quarter end. The investment management company now holds a total of 200,000 shares of Netflix which is valued at $19,582,000 after selling 200,000 shares in Netflix , the firm said in a disclosure report filed with the SEC on Jul 5, 2016.Netflix makes up approximately 8.85% of Andor Capital Management L.l.c.’s portfolio.

Other Hedge Funds, Including ,

Netflix closed down -2.39 points or -2.46% at $94.67 with 1,32,76,161 shares getting traded on Monday. Post opening the session at $96.19, the shares hit an intraday low of $94.3 and an intraday high of $96.869 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Netflix reported $0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 18, 2016. Analyst had a consensus of $0.03. The company had revenue of $1957.70 million for the quarter, compared to analysts expectations of $1965.76 million. The company’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.

Many Wall Street Analysts have commented on Netflix. Shares were Downgraded by Jefferies on Jul 6, 2016 to ” Underperform” and Lowered the Price Target to $ 80 from a previous price target of $120 .Netflix was Downgraded by Needham to ” Hold” on Jul 5, 2016. Canaccord Genuity Initiated Netflix on Jul 1, 2016 to “Buy”, Price Target of the shares are set at $120.

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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