Hillsdale Investment Management Inc. Has $1.29 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Hillsdale Investment Management Inc. lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,125 shares of the Internet television network’s stock after selling 150 shares during the period. Hillsdale Investment Management Inc.’s holdings in Netflix were worth $1,291,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Netflix during the 4th quarter valued at approximately $2,558,598,000. Wellington Management Group LLP raised its holdings in shares of Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after buying an additional 3,273,592 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Netflix by 15,039.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after buying an additional 2,061,859 shares in the last quarter. Jennison Associates LLC increased its holdings in Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in Netflix during the 1st quarter valued at $436,514,000. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In related news, Chairman Reed Hastings sold 18,361 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at $15,443.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Reed Hastings sold 18,361 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $15,443.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,385 shares of company stock worth $44,469,351. Insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on NFLX shares. BMO Capital Markets reissued an “outperform” rating and issued a $713.00 target price (up from $638.00) on shares of Netflix in a research note on Wednesday, April 17th. Piper Sandler lifted their target price on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday. Morgan Stanley upped their price target on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company lifted their target price 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, eleven have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $681.21.

Netflix Price Performance

NASDAQ:NFLX traded up $14.16 during trading hours on Monday, reaching $647.50. 5,214,052 shares of the company were exchanged, compared to its average volume of 3,970,235. The company has a market capitalization of $279.07 billion, a P/E ratio of 44.93, a P/E/G ratio of 1.37 and a beta of 1.27. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $697.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50 day moving average of $656.35 and a 200 day moving average of $605.53.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 33.22% and a net margin of 19.54%. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the prior year, the company earned $3.29 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Research analysts forecast that Netflix, Inc. will post 18.99 EPS for the current 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.