Beech Hill Advisors Inc. Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Beech Hill Advisors Inc. lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,429 shares of the Internet television network’s stock after selling 188 shares during the quarter. Netflix makes up about 1.8% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 16th largest holding. Beech Hill Advisors Inc.’s holdings in Netflix were worth $4,839,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. DigitalBridge Group Inc. grew its holdings in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the period. Nordea Investment Management AB boosted its position in shares of Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Netflix by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after buying an additional 29,726 shares during the last quarter. Natixis Advisors LLC increased its position in Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after buying an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp raised its stake in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. This trade represents a 99.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard N. Barton sold 6,364 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,742 shares of company stock worth $131,030,268 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Netflix Trading Up 1.5 %

Shares of Netflix stock traded up $12.77 on Thursday, hitting $861.03. 407,900 shares of the company traded hands, compared to its average volume of 2,813,061. Netflix, Inc. has a 52 week low of $475.26 and a 52 week high of $941.75. The company has a market cap of $368.06 billion, a PE ratio of 48.73, a PEG ratio of 1.35 and a beta of 1.27. The stock’s 50 day moving average price is $881.04 and its 200-day moving average price is $755.96. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Argus increased their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Piper Sandler increased their price target on shares of Netflix from $840.00 to $950.00 and gave the company an “overweight” rating in a report on Tuesday. Wolfe Research restated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Bank of America increased their target price on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, The Goldman Sachs Group lifted their target price on Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $845.82.

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.