Park Place Capital Corp Sells 94 Shares of Netflix, Inc. (NASDAQ:NFLX)

Park Place Capital Corp reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 14.8% during the fourth quarter, HoldingsChannel reports. The fund owned 540 shares of the Internet television network’s stock after selling 94 shares during the quarter. Park Place Capital Corp’s holdings in Netflix were worth $481,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NFLX. International Assets Investment Management LLC raised its stake in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. raised its stake in Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after acquiring an additional 642,920 shares during the period. State Street Corp raised its stake in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the period. Jennison Associates LLC raised its stake in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP bought a new stake in Netflix in the 3rd quarter valued at about $222,871,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Performance

Shares of NFLX stock opened at $978.96 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a fifty-two week low of $481.40 and a fifty-two week high of $1,003.04. The stock has a 50 day moving average price of $886.64 and a two-hundred day moving average price of $762.07. The company has a market capitalization of $418.46 billion, a P/E ratio of 55.25, a PEG ratio of 1.40 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. During the same quarter in the previous year, the company posted $2.11 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. Analysts expect that Netflix, Inc. will post 19.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on NFLX shares. Jefferies Financial Group lifted their target price on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. The Goldman Sachs Group lifted their target price on Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Wedbush reaffirmed an “outperform” rating and set a $950.00 target price (up previously from $800.00) on shares of Netflix in a report on Monday, November 18th. Macquarie lifted their target price on Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, KeyCorp lifted their target price on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $972.00.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Barton sold 5,698 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the transaction, the director now owns 246 shares of the company’s stock, valued at approximately $185,976. This trade represents a 95.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock worth $127,616,898 over the last quarter. 1.76% of the stock is owned by corporate insiders.

Netflix 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.