Perennial Advisors LLC Buys New Stake in Netflix, Inc. (NASDAQ:NFLX)

Perennial Advisors LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 513 shares of the Internet television network’s stock, valued at approximately $478,000.

Other large investors have also recently bought and sold shares of the company. Brown Shipley& Co Ltd purchased a new position in Netflix in the fourth quarter valued at $27,000. Pathway Financial Advisers LLC boosted its stake in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. Transce3nd LLC acquired a new position in Netflix in the fourth quarter valued at $32,000. Pineridge Advisors LLC boosted its stake in Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares in the last quarter. Finally, Copia Wealth Management acquired a new position in Netflix in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $1,126.00 price objective on shares of Netflix in a research note on Thursday, April 17th. Benchmark reiterated a “hold” rating on shares of Netflix in a research note on Monday, April 21st. Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the stock an “outperform” rating in a research note on Friday, May 16th. BMO Capital Markets reiterated an “outperform” rating and set a $1,200.00 target price (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $1,220.00 target price (up previously from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,149.91.

Insider Buying and Selling

In other Netflix news, Director Ann Mather sold 1,090 shares of Netflix stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,390 shares of company stock worth $170,509,439. 1.37% of the stock is owned by insiders.

Netflix Trading Down 0.7%

Shares of NFLX opened at $1,241.47 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a 50 day simple moving average of $1,087.80 and a 200-day simple moving average of $988.53. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.81. The stock has a market cap of $528.33 billion, a price-to-earnings ratio of 62.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same period last year, the company posted $8.28 EPS. Equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.