Parallel Advisors LLC Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Parallel Advisors LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,575 shares of the Internet television network's stock after purchasing an additional 2,882 shares during the period. Netflix accounts for about 0.6% of Parallel Advisors LLC's investment portfolio, making the stock its 24th biggest holding. Parallel Advisors LLC's holdings in Netflix were worth $26,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital & Planning LLC purchased a new position in Netflix during the 4th quarter valued at about $809,000. Brighton Jones LLC lifted its holdings in shares of Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Netflix during the fourth quarter valued at approximately $12,212,000. Revolve Wealth Partners LLC raised its stake in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares during the last quarter. Finally, Gateway Wealth Partners LLC purchased a new position in Netflix in the fourth quarter worth about $287,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Bradford L. Smith sold 3,919 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the sale, the director now directly owns 7,969 shares of the company's stock, valued at $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jeffrey William Karbowski sold 640 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $1,194.77, for a total transaction of $764,652.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,348 shares of company stock valued at $139,087,908. Company insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of recent analyst reports. Phillip Securities upgraded shares of Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. JPMorgan Chase & Co. reissued a "neutral" rating and set a $1,220.00 price objective (up from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Barclays boosted their price objective on shares of Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Benchmark reiterated a "hold" rating on shares of Netflix in a research note on Monday, April 21st. Finally, Wedbush reiterated an "outperform" rating and set a $1,200.00 target price on shares of Netflix in a research note on Monday, May 5th. Eleven 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,122.33.

Netflix Price Performance

NASDAQ NFLX traded up $17.26 during trading on Friday, hitting $1,202.12. 4,686,095 shares of the stock traded hands, compared to its average volume of 3,758,665. The company has a market capitalization of $511.59 billion, a P/E ratio of 60.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. 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 $1,059.27 and a 200-day simple moving average of $974.30. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,215.91.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the previous year, the firm earned $8.28 earnings per share. As a group, analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

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.