Bank of Hawaii Sells 185 Shares of Netflix, Inc. (NASDAQ:NFLX)

Bank of Hawaii reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,771 shares of the Internet television network’s stock after selling 185 shares during the quarter. Bank of Hawaii’s holdings in Netflix were worth $4,093,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. New World Advisors LLC grew its position in shares of Netflix by 2.0% in the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after buying an additional 14 shares during the period. Heartland Bank & Trust Co boosted its stake in Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after acquiring an additional 15 shares in the last quarter. Cedrus LLC grew its holdings in Netflix by 0.8% in the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after purchasing an additional 15 shares during the period. Capstone Triton Financial Group LLC increased its stake in shares of Netflix by 0.6% during the third quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock valued at $1,717,000 after purchasing an additional 15 shares in the last quarter. Finally, Meritas Wealth Management LLC lifted its holdings in shares of Netflix by 2.9% during the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after purchasing an additional 16 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on NFLX shares. JPMorgan Chase & Co. raised their price objective on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Macquarie reiterated an “outperform” rating and issued a $795.00 price target on shares of Netflix in a research note on Friday, October 18th. Piper Sandler restated an “overweight” rating and set a $840.00 price objective (up from $800.00) on shares of Netflix in a research note on Friday, October 18th. Guggenheim upped their target price on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Pivotal Research boosted their price objective on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $764.82.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares in the company, valued at $60,023.60. This trade represents a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock valued at $133,393,921 over the last 90 days. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $897.79 on Monday. The company has a market capitalization of $383.77 billion, a P/E ratio of 50.81, a P/E/G ratio of 1.73 and a beta of 1.25. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $908.00. The firm’s 50 day simple moving average is $755.40 and its two-hundred day simple moving average is $691.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Research analysts expect that Netflix, Inc. will post 19.78 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.