Torch Wealth Management Lowers stake in Netflix (NFLX)

Netflix (NFLX) : Torch Wealth Management reduced its stake in Netflix by 2.24% during the most recent quarter end. The investment management company now holds a total of 4,370 shares of Netflix which is valued at $438,005 after selling 100 shares in Netflix , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Netflix makes up approximately 0.32% of Torch Wealth Management’s portfolio.

Other Hedge Funds, Including , Edge Wealth Management boosted its stake in NFLX in the latest quarter, The investment management firm added 56 additional shares and now holds a total of 126 shares of Netflix which is valued at $12,629. Netflix makes up approx 0.01% of Edge Wealth Management’s portfolio. Hollencrest Securities added NFLX to its portfolio by purchasing 6,278 company shares during the most recent quarter which is valued at $631,504. Netflix makes up approx 0.09% of Hollencrest Securities’s portfolio. Ct Financial Advisors sold out all of its stake in NFLX during the most recent quarter. The investment firm sold 634 shares of NFLX which is valued $63,774. Centurylink Investment Management Co sold out all of its stake in NFLX during the most recent quarter. The investment firm sold 285 shares of NFLX which is valued $28,668.

Netflix closed down -2.74 points or -2.65% at $100.59 with 90,32,854 shares getting traded on Tuesday. Post opening the session at $102.31, the shares hit an intraday low of $99.86 and an intraday high of $102.9 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. 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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