Netflix, Inc. (NASDAQ:NFLX) Holdings Trimmed by Park Place Capital Corp

Park Place Capital Corp reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 488 shares of the Internet television network’s stock after selling 52 shares during the period. Park Place Capital Corp’s holdings in Netflix were worth $455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC grew its stake in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new stake in Netflix during the fourth quarter worth approximately $27,000. Transce3nd LLC bought a new stake in Netflix during the fourth quarter worth approximately $32,000. Copia Wealth Management acquired a new position in Netflix in the fourth quarter worth approximately $37,000. Finally, Stuart Chaussee & Associates Inc. increased its holdings in shares of Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock valued at $41,000 after buying an additional 45 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NFLX. Guggenheim reiterated a “buy” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Moffett Nathanson reaffirmed a “buy” rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Wells Fargo & Company increased their price target on Netflix from $1,222.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Wedbush reissued an “outperform” rating and issued a $1,200.00 price target on shares of Netflix in a research note on Monday, May 5th. Finally, Robert W. Baird boosted their price objective on Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,172.73.

Insider Transactions at Netflix

In related news, Director Ann Mather sold 1,358 shares of Netflix stock in a transaction on Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total value of $1,561,700.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at approximately $3,402,068.52. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,280 shares of company stock worth $210,599,866. 1.37% of the stock is owned by corporate insiders.

Netflix Stock Performance

NFLX stock opened at $1,306.67 on Friday. The firm has a 50 day moving average of $1,176.24 and a two-hundred day moving average of $1,020.75. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,310.25. The company has a market capitalization of $556.08 billion, a price-to-earnings ratio of 61.75, a P/E/G ratio of 2.47 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period in the prior year, the company posted $8.28 earnings per share. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

About Netflix

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.