Park Edge Advisors LLC Purchases 575 Shares of Netflix, Inc. (NASDAQ:NFLX)

Park Edge Advisors LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 45.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,837 shares of the Internet television network’s stock after purchasing an additional 575 shares during the period. Park Edge Advisors LLC’s holdings in Netflix were worth $1,116,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in Netflix during the fourth quarter worth about $2,558,598,000. Wellington Management Group LLP increased its stake in shares of Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after purchasing an additional 2,061,859 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new position in shares of Netflix in the first quarter worth about $436,514,000. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 0.4 %

Shares of NASDAQ NFLX traded up $2.93 during mid-day trading on Thursday, hitting $682.51. The stock had a trading volume of 1,403,545 shares, compared to its average volume of 2,678,236. The firm has a market cap of $294.16 billion, a P/E ratio of 47.36, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27. The business has a 50 day moving average price of $635.90 and a two-hundred day moving average price of $588.63. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $689.88. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.88 EPS. On average, equities analysts anticipate that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $655.00 target price on shares of Netflix in a research note on Wednesday, May 15th. KeyCorp raised their price objective on shares of Netflix from $705.00 to $707.00 and gave the company an “overweight” rating in a research report on Thursday, June 13th. Loop Capital raised their price objective on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Wells Fargo & Company raised their price objective on shares of Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Benchmark raised their price objective on shares of Netflix from $440.00 to $450.00 and gave the company a “sell” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $637.34.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,835,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,835,750. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the completion of the transaction, the chairman now directly owns 28 shares in the company, valued at approximately $15,443.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,385 shares of company stock worth $44,469,351. Company insiders own 1.76% of the company’s stock.

Netflix Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.