Garden State Investment Advisory Services LLC Trims Position in Netflix, Inc. (NASDAQ:NFLX)

Garden State Investment Advisory Services LLC decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,728 shares of the Internet television network’s stock after selling 64 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Netflix were worth $1,935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Denver PWM LLC purchased a new stake in shares of Netflix in the 2nd quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix during the third quarter valued at about $25,000. Proffitt & Goodson Inc. raised its stake in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its position in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. The trade was a 99.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders sold 185,866 shares of company stock valued at $133,393,921 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NFLX. China Renaissance initiated coverage on Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 price target on the stock. Pivotal Research increased their target price on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Benchmark reaffirmed a “sell” rating and issued a $545.00 target price on shares of Netflix in a research report on Tuesday, October 15th. Wolfe Research reissued an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Finally, Wedbush reissued an “outperform” rating and issued a $950.00 price objective (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $770.12.

Netflix Trading Up 1.1 %

Shares of NFLX stock opened at $886.81 on Monday. The company has a market capitalization of $379.08 billion, a P/E ratio of 50.19, a price-to-earnings-growth ratio of 1.71 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $773.01 and its two-hundred day moving average is $700.75. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $908.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data 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. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Equities analysts forecast that Netflix, Inc. will post 19.78 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.