Beech Hill Advisors Inc. Sells 328 Shares of Netflix, Inc. (NASDAQ:NFLX)

Beech Hill Advisors Inc. lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,617 shares of the Internet television network’s stock after selling 328 shares during the period. Netflix accounts for about 1.5% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 24th biggest holding. Beech Hill Advisors Inc.’s holdings in Netflix were worth $3,984,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Denver PWM LLC bought a new position in shares of Netflix during the 2nd quarter valued at approximately $25,000. Valued Wealth Advisors LLC increased its stake in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of Netflix during the 4th quarter valued at $32,000. Indiana Trust & Investment Management CO lifted its stake in shares of Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares in the last quarter. Finally, Proffitt & Goodson Inc. lifted its stake in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on NFLX shares. Guggenheim raised their price target on Netflix from $735.00 to $810.00 and gave the company a “buy” rating in a report on Friday, October 11th. Pivotal Research lifted their target price on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $750.00 price target on shares of Netflix in a research note on Tuesday, October 8th. Benchmark reiterated a “sell” rating and set a $545.00 price objective on shares of Netflix in a research report on Tuesday. Finally, Sanford C. Bernstein upped their target price on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. 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. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $704.26.

Netflix Price Performance

NFLX opened at $702.00 on Thursday. The business has a fifty day moving average of $692.63 and a 200 day moving average of $653.38. The stock has a market cap of $302.56 billion, a P/E ratio of 48.72, a PEG ratio of 1.49 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $736.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the previous year, the firm posted $3.29 earnings per share. The company’s revenue was up 16.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 owns 85 shares of the company’s stock, valued at approximately $60,023.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock worth $150,492,460 over the last three months. 1.76% of the stock is owned by corporate insiders.

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.