Parr Mcknight Wealth Management Group LLC Purchases New Stake in Netflix, Inc. (NASDAQ:NFLX)

Parr Mcknight Wealth Management Group LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,760 shares of the Internet television network's stock, valued at approximately $2,460,000.

Other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC grew its holdings in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after acquiring an additional 14 shares during the period. Brown Shipley& Co Ltd acquired a new position in shares of Netflix in the 4th quarter valued at $27,000. Transce3nd LLC bought a new position in shares of Netflix in the 4th quarter worth $32,000. Newton One Investments LLC acquired a new stake in shares of Netflix during the fourth quarter worth $34,000. Finally, Pineridge Advisors LLC grew its stake in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 25,360 shares of Netflix 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 sale, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. This trade represents a 98.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 132,868 shares of company stock valued at $138,483,256 over the last ninety days. 1.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NFLX. Oppenheimer reissued an "outperform" rating and issued a $1,200.00 target price (up previously from $1,150.00) on shares of Netflix in a research note on Friday, April 18th. Wall Street Zen lowered shares of Netflix from a "buy" rating to a "hold" rating in a research note on Tuesday, February 4th. Barclays increased their price objective on Netflix from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a report on Monday, April 21st. Robert W. Baird raised their target price on shares of Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, Cfra Research raised Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Netflix has an average rating of "Moderate Buy" and an average price target of $1,102.79.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,187.97 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,211.22. The company has a 50 day simple moving average of $1,031.11 and a two-hundred day simple moving average of $957.63. The company has a market capitalization of $505.57 billion, a PE ratio of 59.91, a P/E/G ratio of 2.12 and a beta of 1.58.

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, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same period in the prior year, the firm posted $8.28 EPS. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.

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