Netflix, Inc. (NFLX) Formed a Bullish Double Top Chart Pattern, Could Be One of The Best Performers Soon

July 16, 2018 - By Lisa Delgado

Netflix, Inc. (NASDAQ:NFLX) Logo

Investors sentiment decreased to 1.23 in Q1 2018. Its down 0.08, from 1.31 in 2017Q4. It worsened, as 47 investors sold Netflix, Inc. shares while 310 reduced holdings. 156 funds opened positions while 283 raised stakes. 329.43 million shares or 4.36% less from 344.43 million shares in 2017Q4 were reported.
Adage Capital Ptnrs Gp Ltd Liability Corporation holds 0.4% or 584,030 shares. Kbc Group Nv reported 0.27% stake. 1,550 are owned by Evercore Wealth Mgmt Ltd Liability. Private Ocean Ltd Co owns 85 shares for 0.01% of their portfolio. Vantage Inv Advsr reported 0.11% of its portfolio in Netflix, Inc. (NASDAQ:NFLX). Tiaa Cref Inv Mgmt Ltd invested 0.5% in Netflix, Inc. (NASDAQ:NFLX). Wolverine Asset Management Limited Liability Company holds 0.01% of its portfolio in Netflix, Inc. (NASDAQ:NFLX) for 2,764 shares. Pinnacle Associates Ltd has invested 0.04% in Netflix, Inc. (NASDAQ:NFLX). Carmignac Gestion has 1.43% invested in Netflix, Inc. (NASDAQ:NFLX) for 688,562 shares. Primecap Ca accumulated 0.01% or 57,200 shares. Great West Life Assurance Can accumulated 0.21% or 298,926 shares. Citadel Advisors Ltd Liability Corp accumulated 511,624 shares. 200 were accumulated by Baldwin Brothers Ma. Exane Derivatives holds 557 shares. Ameriprise Fin owns 429,839 shares for 0.06% of their portfolio.

Since January 22, 2018, it had 0 buys, and 50 insider sales for $230.05 million activity. Shares for $2.13M were sold by Peters Gregory K on Tuesday, January 23. Another trade for 63,889 shares valued at $18.02M was sold by HASTINGS REED. 5,126 shares were sold by FRIEDLAND JONATHAN, worth $1.31M. Another trade for 700 shares valued at $291,631 was sold by BARTON RICHARD N. $2.77M worth of Netflix, Inc. (NASDAQ:NFLX) was sold by BATTLE A GEORGE. 1,000 Netflix, Inc. (NASDAQ:NFLX) shares with value of $387,500 were sold by WELLS DAVID B.

The chart of Netflix, Inc. (NFLX) shows a double top with $436.34 target or 9.00 % above today’s $400.31 share price. The 6 months chart pattern indicates low risk for the $174.01 billion company. It was reported on Jul, 16 by Finviz.com. If the $436.34 price target is reached, the company will be worth $15.66B more. Double tops are rare but powerful chart patterns.

The stock increased 1.14% or $4.51 during the last trading session, reaching $400.31. About 11.31M shares traded or 15.32% up from the average. Netflix, Inc. (NASDAQ:NFLX) has risen 115.45% since July 16, 2017 and is uptrending. It has outperformed by 102.88% the S&P500.

Netflix, Inc. (NASDAQ:NFLX) Ratings Coverage

Among 36 analysts covering Netflix (NASDAQ:NFLX), 23 have Buy rating, 2 Sell and 11 Hold. Therefore 64% are positive. Netflix had 67 analyst reports since January 17, 2018 according to SRatingsIntel. The company was maintained on Tuesday, June 19 by Monness Crespi & Hardt. On Tuesday, April 17 the stock rating was maintained by Cowen & Co with “Buy”. The company was maintained on Wednesday, April 11 by Cowen & Co. On Tuesday, April 17 the stock rating was maintained by Bernstein with “Buy”. Wedbush maintained Netflix, Inc. (NASDAQ:NFLX) rating on Tuesday, April 17. Wedbush has “Underperform” rating and $125 target. Canaccord Genuity maintained Netflix, Inc. (NASDAQ:NFLX) rating on Monday, April 16. Canaccord Genuity has “Buy” rating and $35000 target. The firm earned “Buy” rating on Monday, January 22 by Canaccord Genuity. BMO Capital Markets maintained Netflix, Inc. (NASDAQ:NFLX) on Monday, April 16 with “Hold” rating. The rating was maintained by KeyBanc Capital Markets with “Buy” on Thursday, January 18. The rating was maintained by GBH Insights with “Buy” on Thursday, February 15.

More notable recent Netflix, Inc. (NASDAQ:NFLX) news were published by: Seekingalpha.com which released: “Netflix: After The Close” on July 16, 2018, also Benzinga.com with their article: “Netflix Q2 Earnings Preview: What To Watch For In The Streaming Giant’s Report” published on July 15, 2018, Nasdaq.com published: “Everything You Need to Know About Netflix (NFLX) Ahead of Q2 Earnings” on July 13, 2018. More interesting news about Netflix, Inc. (NASDAQ:NFLX) were released by: Seekingalpha.com and their article: “An early preview of Netflix earnings” published on July 11, 2018 as well as Seekingalpha.com‘s news article titled: “Caution on Netflix ahead of earnings” with publication date: July 16, 2018.

Netflix, Inc., an Internet television network, engages in the Internet delivery of television shows and movies on various Internet-connected screens. The company has market cap of $174.01 billion. It operates in three divisions: Domestic Streaming, International Streaming, and Domestic DVD. It has a 268.3 P/E ratio. The firm offers TV shows and movies, including original series, documentaries, and feature films.

Netflix, Inc. (NASDAQ:NFLX) Institutional Positions Chart

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