Sandy Cove Advisors LLC Grows Holdings in Netflix, Inc. (NASDAQ:NFLX)

Sandy Cove Advisors LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,339 shares of the Internet television network’s stock after buying an additional 152 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Netflix were worth $813,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Spartan Planning & Wealth Management acquired a new position in shares of Netflix during the 3rd quarter valued at $26,000. VitalStone Financial LLC increased its stake in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC raised its stake in Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of Netflix during the 4th quarter worth approximately $32,000. Finally, Indiana Trust & Investment Management CO lifted its holdings in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other news, Director Anne M. Sweeney sold 633 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Anne M. Sweeney sold 633 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 268 shares of Netflix stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The disclosure for this sale can be found here. Insiders sold a total of 69,425 shares of company stock valued at $41,919,791 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

NFLX stock traded down $9.46 during midday trading on Friday, hitting $674.88. 3,412,391 shares of the company traded hands, compared to its average volume of 2,746,538. The business has a 50 day simple moving average of $628.93 and a 200-day simple moving average of $584.34. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $689.88. The stock has a market capitalization of $290.87 billion, a price-to-earnings ratio of 46.83, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.88 EPS. As a group, equities research analysts predict that Netflix, Inc. will post 18.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of analyst reports. Rosenblatt Securities increased their price objective on shares of Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Pivotal Research upped their price target on shares of Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Benchmark boosted their target price on Netflix from $440.00 to $450.00 and gave the stock a “sell” rating in a report on Friday, May 17th. BMO Capital Markets reaffirmed an “outperform” rating and set a $713.00 price target (up from $638.00) on shares of Netflix in a research note on Wednesday, April 17th. Finally, Wells Fargo & Company lifted their price target on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $633.53.

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.