EdgeRock Capital LLC Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

EdgeRock Capital LLC lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 540 shares of the Internet television network’s stock after purchasing an additional 13 shares during the period. EdgeRock Capital LLC’s holdings in Netflix were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of NFLX. Brown Shipley& Co Ltd purchased a new position in shares of Netflix during the 4th quarter worth approximately $27,000. Pathway Financial Advisers LLC increased its position in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares in the last quarter. Transce3nd LLC purchased a new position in Netflix during the fourth quarter worth $32,000. Pineridge Advisors LLC increased its position in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares in the last quarter. Finally, Copia Wealth Management purchased a new stake in Netflix during the 4th quarter worth about $37,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NFLX. BMO Capital Markets reiterated an “outperform” rating and set a $1,200.00 price objective (up previously from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the stock an “overweight” rating in a report on Monday, April 21st. Guggenheim reaffirmed a “buy” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Rosenblatt Securities lifted their target price on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Finally, Phillip Securities raised shares of Netflix from a “moderate sell” rating to a “hold” rating in a research note on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,149.91.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 31,750 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director now directly owns 63,040 shares in the company, valued at approximately $78,948,144. This trade represents a 33.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 1,090 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock valued at $210,271,552 in the last quarter. Insiders own 1.37% of the company’s stock.

Netflix Trading Down 1.7%

NASDAQ NFLX opened at $1,203.62 on Wednesday. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,262.81. 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 company has a market capitalization of $512.23 billion, a price-to-earnings ratio of 60.70, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The company’s fifty day moving average price is $1,099.31 and its two-hundred day moving average price is $992.93.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter last year, the company posted $8.28 earnings per share. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix Company 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.