Grandview Asset Management LLC Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

Grandview Asset Management LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 1.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,151 shares of the Internet television network’s stock after selling 45 shares during the period. Netflix comprises about 1.0% of Grandview Asset Management LLC’s portfolio, making the stock its 23rd biggest holding. Grandview Asset Management LLC’s holdings in Netflix were worth $2,809,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the 3rd quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Netflix by 700.0% during the third 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 in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Netflix in the third quarter worth $37,000. FSA Wealth Management LLC purchased a new position in shares of Netflix in the third quarter valued at $38,000. Finally, First Personal Financial Services bought a new stake in shares of Netflix during the 3rd quarter valued at $40,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 0.3 %

Shares of NASDAQ NFLX opened at $840.29 on Tuesday. The firm’s fifty day moving average is $879.75 and its 200 day moving average is $754.88. Netflix, Inc. has a 52 week low of $475.26 and a 52 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 cap of $359.19 billion, a price-to-earnings ratio of 47.55, a PEG ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, equities research analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 4,186 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,817,500. This trade represents a 24.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,742 shares of company stock worth $131,030,268. 1.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on NFLX. JPMorgan Chase & Co. reduced their target price on Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a report on Friday. Argus upped their target price on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Wedbush reaffirmed an “outperform” rating and issued a $950.00 price target (up previously from $800.00) on shares of Netflix in a report on Monday, November 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $832.94.

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.