Parnassus Investments LLC Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Parnassus Investments LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,234 shares of the Internet television network’s stock after purchasing an additional 99 shares during the quarter. Parnassus Investments LLC’s holdings in Netflix were worth $1,100,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC lifted its holdings in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the 3rd quarter worth approximately $25,000. Newton One Investments LLC bought a new stake in Netflix during the 4th quarter worth approximately $34,000. Pineridge Advisors LLC increased its holdings in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC increased its holdings in Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after acquiring an additional 16 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Up 3.1 %

NASDAQ:NFLX opened at $918.00 on Friday. The company has a fifty day moving average of $951.04 and a 200 day moving average of $847.68. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. 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 market capitalization of $392.68 billion, a P/E ratio of 46.29, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the business posted $2.11 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. On average, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the transaction, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total transaction of $473,640.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on NFLX. Citigroup upped their target price on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Macquarie upped their target price on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Oppenheimer upped their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, Needham & Company LLC boosted their price target on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,014.26.

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.