Patriot Financial Group Insurance Agency LLC Grows Holdings in Netflix, Inc. (NASDAQ:NFLX)

Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 23.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,716 shares of the Internet television network’s stock after buying an additional 700 shares during the quarter. Netflix accounts for about 0.6% of Patriot Financial Group Insurance Agency LLC’s investment portfolio, making the stock its 28th largest holding. Patriot Financial Group Insurance Agency LLC’s holdings in Netflix were worth $1,395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Honkamp Krueger Financial Services Inc. lifted its stake in Netflix by 23.8% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 2,453 shares of the Internet television network’s stock worth $923,000 after purchasing an additional 471 shares during the last quarter. Van ECK Associates Corp lifted its stake in Netflix by 10.0% during the second quarter. Van ECK Associates Corp now owns 14,390 shares of the Internet television network’s stock worth $5,286,000 after purchasing an additional 1,311 shares during the last quarter. Axiom International Investors LLC DE lifted its stake in Netflix by 7.0% during the second quarter. Axiom International Investors LLC DE now owns 142,344 shares of the Internet television network’s stock worth $52,286,000 after purchasing an additional 9,253 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Netflix by 1.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 758,863 shares of the Internet television network’s stock worth $280,794,000 after buying an additional 14,283 shares during the period. Finally, Mirador Capital Partners LP acquired a new stake in Netflix in the second quarter worth $238,000. Institutional investors own 77.01% of the company’s stock.

NFLX has been the topic of several analyst reports. Loop Capital raised Netflix from a “hold” rating to a “buy” rating and increased their target price for the stock from $395.00 to $425.00 in a research report on Monday, June 3rd. BidaskClub lowered Netflix from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Wedbush increased their target price on Netflix from $183.00 to $188.00 and gave the stock an “underperform” rating in a research report on Thursday, July 18th. Morgan Stanley set a $450.00 target price on Netflix and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Netflix in a research report on Friday, July 19th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $392.38.

In related news, CEO Reed Hastings sold 52,269 shares of Netflix stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $300.10, for a total transaction of $15,685,926.90. Following the transaction, the chief executive officer now directly owns 52,269 shares of the company’s stock, valued at $15,685,926.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 1,208 shares of Netflix stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $375.00, for a total value of $453,000.00. Following the transaction, the director now directly owns 357 shares in the company, valued at $133,875. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,717 shares of company stock worth $52,621,735. 4.29% of the stock is owned by corporate insiders.

Shares of NFLX traded down $5.49 during trading hours on Friday, reaching $291.44. 5,664,725 shares of the company’s stock traded hands, compared to its average volume of 6,809,117. The firm has a market capitalization of $130.01 billion, a price-to-earnings ratio of 108.75, a P/E/G ratio of 3.03 and a beta of 1.23. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.85. Netflix, Inc. has a twelve month low of $231.23 and a twelve month high of $386.80. The business’s fifty day simple moving average is $329.07 and its two-hundred day simple moving average is $352.23.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Wednesday, July 17th. The Internet television network reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.93 billion. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. On average, equities research analysts expect that Netflix, Inc. will post 3.26 EPS for the current year.

Netflix Company Profile

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

Read More: Why are percentage decliners important?

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.