Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Granite Group Advisors LLC

Granite Group Advisors LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 47.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 417 shares of the Internet television network’s stock after selling 370 shares during the quarter. Granite Group Advisors LLC’s holdings in Netflix were worth $296,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Denver PWM LLC acquired a new stake in shares of Netflix in the second quarter valued at about $25,000. Proffitt & Goodson Inc. boosted its holdings in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its position in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares in the last quarter. AlphaMark Advisors LLC raised its stake in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares during the period. Finally, Triad Wealth Partners LLC acquired a new position in shares of Netflix during the second quarter worth $38,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 13,791 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $22,127,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 242,112 shares of company stock valued at $169,954,456. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Performance

Shares of NASDAQ NFLX traded down $1.52 during trading hours on Friday, reaching $795.02. The stock had a trading volume of 319,036 shares, compared to its average volume of 3,668,334. The company has a market cap of $339.84 billion, a price-to-earnings ratio of 45.08, a PEG ratio of 1.46 and a beta of 1.25. Netflix, Inc. has a twelve month low of $434.35 and a twelve month high of $799.06. The business’s fifty day moving average is $717.59 and its two-hundred day moving average is $667.98. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Analysts Set New Price Targets

Several equities research analysts have commented on NFLX shares. Loop Capital raised their price target on shares of Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. UBS Group raised their target price on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Oppenheimer raised their price objective on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Redburn Atlantic upped their target price on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Bank of America lifted their price target on Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $748.15.

About Netflix

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.