First Merchants Corp continued to hold its stake in shares of Netflix Inc. (NASDAQ:NFLX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,600 shares of the Internet television network’s stock at the end of the second quarter. First Merchants Corp’s holdings in Netflix were worth $512,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Capital Impact Advisors LLC increased its stake in shares of Netflix by 4.6% in the first quarter. Capital Impact Advisors LLC now owns 3,776 shares of the Internet television network’s stock worth $386,000 after buying an additional 166 shares during the period. Private Trust Co. NA increased its stake in shares of Netflix by 42.2% in the first quarter. Private Trust Co. NA now owns 4,089 shares of the Internet television network’s stock worth $418,000 after buying an additional 1,213 shares during the period. Investment Centers of America Inc. increased its stake in shares of Netflix by 35.6% in the first quarter. Investment Centers of America Inc. now owns 10,915 shares of the Internet television network’s stock worth $1,112,000 after buying an additional 2,863 shares during the period. Sii Investments Inc. WI increased its stake in shares of Netflix by 32.6% in the first quarter. Sii Investments Inc. WI now owns 5,601 shares of the Internet television network’s stock worth $568,000 after buying an additional 1,377 shares during the period. Finally, Telemus Capital LLC purchased a new stake in shares of Netflix during the first quarter worth about $2,232,000. 78.43% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Inc. (NASDAQ:NFLX) traded down 3.43% during midday trading on Wednesday, hitting $94.88. The company had a trading volume of 20,042,236 shares. The company has a market cap of $40.68 billion, a P/E ratio of 296.50 and a beta of 1.71. Netflix Inc. has a one year low of $79.95 and a one year high of $133.27. The company’s 50 day moving average is $96.62 and its 200-day moving average is $96.19.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The company earned $2.11 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the business earned $0.06 EPS. The business’s quarterly revenue was up 19.5% on a year-over-year basis. On average, equities analysts predict that Netflix Inc. will post $0.29 EPS for the current year.

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada restated a “buy” rating on shares of Netflix in a research report on Tuesday, May 24th. MKM Partners set a $145.00 price objective on shares of Netflix and gave the stock a “buy” rating in a research report on Thursday, May 26th. Vetr cut shares of Netflix from a “buy” rating to a “hold” rating and set a $106.23 price objective for the company. in a research report on Monday, May 30th. Cantor Fitzgerald restated a “buy” rating and set a $140.00 price objective on shares of Netflix in a research report on Tuesday, May 31st. Finally, Jefferies Group restated a “hold” rating on shares of Netflix in a research report on Saturday, June 4th. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $110.46.

In related news, Director Jay C. Hoag acquired 600,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were acquired at an average cost of $86.43 per share, with a total value of $51,858,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $95.03, for a total value of $66,521.00. Following the completion of the transaction, the director now directly owns 15,562 shares in the company, valued at $1,478,856.86. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Netflix Company Profile

Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.

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