Paragon Capital Management Inc. Purchases Shares of 1,266 Netflix, Inc. (NASDAQ:NFLX)

Paragon Capital Management Inc. acquired a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,266 shares of the Internet television network's stock, valued at approximately $1,181,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC lifted its stake in Netflix by 100.0% in the first 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 purchased a new position in shares of Netflix in the fourth quarter worth about $27,000. Transce3nd LLC bought a new stake in shares of Netflix in the 4th quarter valued at about $32,000. Copia Wealth Management purchased a new stake in Netflix during the 4th quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its holdings in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after acquiring an additional 45 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Up 2.5%

Shares of NASDAQ:NFLX opened at $1,306.67 on Friday. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,314.95. The stock has a market capitalization of $556.08 billion, a price-to-earnings ratio of 61.75, a PEG ratio of 2.47 and a beta of 1.59. The stock has a fifty day simple moving average of $1,176.24 and a two-hundred day simple moving average of $1,020.75. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

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

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares of the company's stock, valued at $362,933.10. This represents a 98.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 1,358 shares of Netflix stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $1,150.00, for a total value of $1,561,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,280 shares of company stock worth $210,599,866. Corporate insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Moffett Nathanson reiterated a "buy" rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Morgan Stanley increased their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Wells Fargo & Company raised their price target on shares of Netflix from $1,222.00 to $1,500.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $1,126.00 price objective on shares of Netflix in a research note on Thursday, April 17th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,172.73.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.