Parsons Capital Management Inc. RI Increases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Parsons Capital Management Inc. RI raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 988 shares of the Internet television network’s stock after acquiring an additional 36 shares during the period. Parsons Capital Management Inc. RI’s holdings in Netflix were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in NFLX. Valued Wealth Advisors LLC grew its holdings in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares during the last quarter. VitalStone Financial LLC grew its stake in shares of Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC increased its holdings in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of Netflix during the fourth quarter worth approximately $32,000. Finally, Indiana Trust & Investment Management CO lifted its holdings in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jay C. Hoag sold 37,675 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $629.73, for a total value of $23,725,077.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jay C. Hoag sold 37,675 shares of Netflix stock in a transaction on Monday, August 12th. The shares were sold at an average price of $629.73, for a total transaction of $23,725,077.75. The disclosure for this sale can be found here. Insiders sold 132,893 shares of company stock worth $84,412,483 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Netflix stock traded up $9.83 during mid-day trading on Tuesday, hitting $698.36. 251,633 shares of the company’s stock traded hands, compared to its average volume of 3,868,512. Netflix, Inc. has a one year low of $344.73 and a one year high of $699.15. The company has a market cap of $300.99 billion, a PE ratio of 47.78, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The firm has a 50 day moving average price of $655.35 and a 200 day moving average price of $622.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the previous year, the firm earned $3.29 EPS. Netflix’s revenue was up 16.8% on a year-over-year basis. On average, equities analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NFLX shares. Evercore ISI raised their target price on shares of Netflix from $700.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Jefferies Financial Group increased their target price on Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group upped their price objective on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Rosenblatt Securities boosted their target price on shares of Netflix from $554.00 to $635.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Guggenheim boosted their price objective on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $681.21.

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.