Pallas Capital Advisors LLC Has $3.09 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Pallas Capital Advisors LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,310 shares of the Internet television network's stock after selling 579 shares during the quarter. Pallas Capital Advisors LLC's holdings in Netflix were worth $3,087,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NFLX. GAMMA Investing LLC lifted 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 worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Norges Bank acquired a new position in shares of Netflix in the 4th quarter worth approximately $5,019,087,000. Proficio Capital Partners LLC lifted its position in shares of Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after buying an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after buying an additional 856,307 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Netflix by 318.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock valued at $870,752,000 after buying an additional 743,724 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Stock Up 1.3%

Shares of NASDAQ:NFLX traded up $15.51 during midday trading on Wednesday, reaching $1,219.13. 759,636 shares of the company were exchanged, compared to its average volume of 3,750,169. The firm has a market cap of $518.83 billion, a PE ratio of 61.52, a P/E/G ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The stock has a fifty day simple moving average of $1,099.31 and a two-hundred day simple moving average of $992.93. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS 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 analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the previous year, the company posted $8.28 earnings per share. As a group, sell-side analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NFLX. Robert W. Baird increased their price objective on Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Benchmark reaffirmed a "hold" rating on shares of Netflix in a report on Monday, April 21st. Macquarie lifted their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Oppenheimer restated an "outperform" rating and issued a $1,200.00 price target (up from $1,150.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Barclays upped their price objective on shares of Netflix from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a research note on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and a consensus target price of $1,149.91.

Insider Buying and Selling

In other news, insider Cletus R. Willems sold 298 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total value of $339,124.00. Following the transaction, the insider now directly owns 31,610 shares of the company's stock, valued at $35,972,180. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares in the company, valued at approximately $362,933.10. This trade represents a 98.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,140 shares of company stock worth $210,271,552. Insiders own 1.37% of the company's stock.

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.