Brendel Financial Advisors LLC Has $2.51 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Brendel Financial Advisors LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,692 shares of the Internet television network's stock after selling 566 shares during the period. Netflix comprises 1.5% of Brendel Financial Advisors LLC's portfolio, making the stock its 27th largest position. Brendel Financial Advisors LLC's holdings in Netflix were worth $2,510,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after acquiring an additional 171,712 shares in the last quarter. FMR LLC raised its holdings in Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after acquiring an additional 375,234 shares in the last quarter. Geode Capital Management LLC raised its holdings in Netflix by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock valued at $8,287,823,000 after acquiring an additional 175,596 shares in the last quarter. GAMMA Investing LLC increased its stake in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Finally, Norges Bank bought a new stake in Netflix during the fourth quarter valued at $5,019,087,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director now owns 79,040 shares in the company, valued at approximately $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares in the company, valued at $362,933.10. This represents a 98.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,140 shares of company stock worth $210,271,552 in the last 90 days. Company insiders own 1.37% of the company's stock.

Netflix Stock Up 1.8%

Shares of NFLX traded up $22.13 during trading hours on Monday, reaching $1,253.54. The company's stock had a trading volume of 2,653,868 shares, compared to its average volume of 3,748,578. The firm has a market cap of $533.47 billion, a price-to-earnings ratio of 59.24, a P/E/G ratio of 2.38 and a beta of 1.59. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.81. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $1,150.80 and a two-hundred day moving average of $1,012.19.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter in the prior year, the company earned $8.28 EPS. As a group, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NFLX shares. Phillip Securities upgraded shares of Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Rosenblatt Securities boosted their target price on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Moffett Nathanson reiterated a "buy" rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Guggenheim restated a "buy" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $1,220.00 price target (up previously from $1,150.00) on shares of Netflix in a research report 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,172.73.

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.