Pineridge Advisors LLC Purchases New Holdings in Netflix, Inc. (NASDAQ:NFLX)

Pineridge Advisors LLC purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 154 shares of the Internet television network’s stock, valued at approximately $75,000.

A number of other large investors also recently bought and sold shares of the business. KFA Private Wealth Group LLC lifted its position in shares of Netflix by 1.9% during the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after buying an additional 18 shares during the last quarter. Legacy Capital Group California Inc. increased its holdings in shares of Netflix by 0.6% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after acquiring an additional 18 shares in the last quarter. Founders Financial Alliance LLC increased its holdings in shares of Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after acquiring an additional 18 shares in the last quarter. Addison Advisors LLC increased its holdings in shares of Netflix by 7.8% during the fourth quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock valued at $134,000 after acquiring an additional 20 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC increased its holdings in shares of Netflix by 1.6% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 1,304 shares of the Internet television network’s stock valued at $635,000 after acquiring an additional 21 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

NFLX stock traded up $16.12 during midday trading on Friday, reaching $669.38. The stock had a trading volume of 4,447,116 shares, compared to its average volume of 2,549,279. The company’s fifty day simple moving average is $615.54 and its 200 day simple moving average is $568.40. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market cap of $288.50 billion, a price-to-earnings ratio of 46.45, a price-to-earnings-growth ratio of 1.41 and a beta of 1.26. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $675.58.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.88 EPS. As a group, sell-side analysts predict that Netflix, Inc. will post 18.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on NFLX. TD Cowen upped their price objective on shares of Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a report on Monday, April 8th. Canaccord Genuity Group downgraded shares of Netflix from a “buy” rating to a “hold” rating and cut their price target for the stock from $720.00 to $585.00 in a report on Friday, April 19th. Loop Capital increased their price target on shares of Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Canaccord Genuity Group reiterated a “hold” rating and issued a $585.00 price target (down previously from $720.00) on shares of Netflix in a report on Friday, April 19th. Finally, Rosenblatt Securities increased their price target on shares of Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $632.06.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 19,943 shares of Netflix stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the transaction, the chairman now owns 57 shares in the company, valued at approximately $36,114.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,181,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 19,943 shares of Netflix stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94. Following the transaction, the chairman now owns 57 shares in the company, valued at approximately $36,114.06. The disclosure for this sale can be found here. Insiders have sold a total of 69,994 shares of company stock worth $42,036,266 in the last quarter. Company insiders own 1.76% of the company’s stock.

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.