Petredis Investment Advisors LLC Has $7.46 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Petredis Investment Advisors LLC grew its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,996 shares of the Internet television network’s stock after purchasing an additional 61 shares during the quarter. Netflix makes up approximately 0.8% of Petredis Investment Advisors LLC’s investment portfolio, making the stock its 27th largest holding. Petredis Investment Advisors LLC’s holdings in Netflix were worth $7,457,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Sanibel Captiva Trust Company Inc. boosted its stake in shares of Netflix by 23.1% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 2,526 shares of the Internet television network’s stock valued at $2,356,000 after purchasing an additional 474 shares in the last quarter. Curated Wealth Partners LLC lifted its position in shares of Netflix by 52.1% in the 1st quarter. Curated Wealth Partners LLC now owns 505 shares of the Internet television network’s stock worth $471,000 after purchasing an additional 173 shares during the period. Parsons Capital Management Inc. RI boosted its stake in shares of Netflix by 8.3% in the 1st quarter. Parsons Capital Management Inc. RI now owns 1,136 shares of the Internet television network’s stock valued at $1,059,000 after purchasing an additional 87 shares during the last quarter. Ibex Wealth Advisors increased its position in shares of Netflix by 11.7% during the first quarter. Ibex Wealth Advisors now owns 5,018 shares of the Internet television network’s stock worth $4,679,000 after buying an additional 526 shares during the period. Finally, SJS Investment Consulting Inc. grew its holdings in Netflix by 19.4% during the 1st quarter. SJS Investment Consulting Inc. now owns 228 shares of the Internet television network’s stock worth $213,000 after acquiring an additional 37 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Down 1.4%

NFLX stock opened at $1,224.46 on Tuesday. The company’s 50 day moving average is $1,093.58 and its 200 day moving average is $991.46. The stock has a market cap of $521.09 billion, a price-to-earnings ratio of 61.75, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.81.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the previous year, the company earned $8.28 EPS. Sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Guggenheim restated a “buy” rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an “outperform” rating in a report on Friday, May 16th. Bank of America increased their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Canaccord Genuity Group raised their price objective on Netflix from $1,200.00 to $1,380.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $1,200.00 target price (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,149.91.

Insider Activity at Netflix

In other news, Director Ann Mather sold 1,090 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director now directly owns 63,040 shares of the company’s stock, valued at $78,948,144. This trade represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock valued at $210,271,552 over the last 90 days. 1.37% of the stock is owned by 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.