Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Garden State Investment Advisory Services LLC

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

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after purchasing an additional 642,920 shares during the period. State Street Corp lifted its position in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new position in Netflix during the third quarter valued at approximately $222,871,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NFLX. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Rosenblatt Securities lifted their price objective on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Jefferies Financial Group boosted their target price on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company raised their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Guggenheim lifted their target price on shares of Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $787.85.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 165,405 shares of company stock valued at $129,623,487 over the last ninety days. 1.76% of the stock is owned by company insiders.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $10.55 during midday trading on Friday, hitting $915.00. The stock had a trading volume of 471,149 shares, compared to its average volume of 3,615,058. The company’s 50-day moving average price is $810.04 and its 200-day moving average price is $717.45. Netflix, Inc. has a fifty-two week low of $461.86 and a fifty-two week high of $941.75. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $391.13 billion, a P/E ratio of 52.38, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. As a group, equities research analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Netflix 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.