Beech Hill Advisors Inc. Decreases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Beech Hill Advisors Inc. lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 5.5% during the third quarter, Holdings Channel reports. The institutional investor owned 5,617 shares of the Internet television network’s stock after selling 328 shares during the quarter. Netflix comprises approximately 1.5% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 24th largest holding. Beech Hill Advisors Inc.’s holdings in Netflix were worth $3,984,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GQG Partners LLC purchased a new stake in Netflix during the 1st quarter worth approximately $1,450,476,000. Jennison Associates LLC grew its holdings in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Netflix in the 1st quarter valued at $436,514,000. Jericho Capital Asset Management L.P. purchased a new position in Netflix in the 1st quarter worth $372,293,000. Finally, Swedbank AB acquired a new stake in Netflix during the 1st quarter worth about $216,538,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the transaction, the chairman now directly owns 57 shares in the company, valued at approximately $35,991.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock valued at $150,492,460 in the last three months. 1.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Redburn Atlantic increased their price objective on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. KeyCorp raised their price target on shares of Netflix from $735.00 to $760.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Barclays restated an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research note on Monday, October 7th. UBS Group raised their target price on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Argus upped their price target on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $704.26.

Netflix Stock Performance

NFLX opened at $702.00 on Thursday. The firm has a market capitalization of $302.56 billion, a PE ratio of 48.72, a PEG ratio of 1.49 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $736.00. The firm’s 50-day moving average price is $692.63 and its 200 day moving average price is $653.38.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same period in the prior year, the business earned $3.29 earnings per share. The business’s revenue was up 16.8% compared to the same quarter last year. As a group, sell-side analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.