Park Edge Advisors LLC Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

Park Edge Advisors LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 11.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,782 shares of the Internet television network's stock after selling 233 shares during the quarter. Park Edge Advisors LLC's holdings in Netflix were worth $1,662,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Pathway Financial Advisers LLC boosted its stake in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after purchasing an additional 14 shares during the period. Brown Shipley& Co Ltd bought a new stake in Netflix during the 4th quarter valued at $27,000. Transce3nd LLC purchased a new stake in Netflix during the 4th quarter valued at $32,000. Newton One Investments LLC purchased a new stake in Netflix during the 4th quarter valued at $34,000. Finally, Pineridge Advisors LLC increased its position in shares of 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 during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

Shares of NASDAQ NFLX traded up $10.86 during trading on Thursday, reaching $1,250.52. 2,814,568 shares of the company traded hands, compared to its average volume of 3,745,433. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $1,075.18 and a 200-day simple moving average of $982.47. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,262.59. The stock has a market capitalization of $532.19 billion, a PE ratio of 63.06, a P/E/G ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the prior year, the firm earned $8.28 EPS. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction 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 sale, the chairman now owns 394 shares of the company's stock, valued at $362,933.10. The trade was a 98.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,300 shares of company stock valued at $169,146,939. Insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays increased their target price on shares of Netflix from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a report on Monday, April 21st. Piper Sandler set a $1,150.00 price target on Netflix and gave the stock an "overweight" rating in a research note on Monday, April 21st. KeyCorp boosted their price objective on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Jefferies Financial Group upped their price objective on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the company an "outperform" rating in a research note on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,149.91.

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.