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

Garden State Investment Advisory Services LLC lowered its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. New World Advisors LLC boosted its holdings in Netflix by 2.0% in the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after acquiring an additional 14 shares in the last quarter. Heartland Bank & Trust Co raised its position in shares of Netflix by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after purchasing an additional 15 shares during the last quarter. Cedrus LLC raised its position in shares of Netflix by 0.8% in the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after purchasing an additional 15 shares during the last quarter. Capstone Triton Financial Group LLC boosted its stake in Netflix by 0.6% in the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after purchasing an additional 15 shares in the last quarter. Finally, Meritas Wealth Management LLC grew its position in Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $886.81 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $379.08 billion, a PE ratio of 50.19, a P/E/G ratio of 1.71 and a beta of 1.25. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $908.00. The company has a fifty day moving average of $773.01 and a two-hundred day moving average of $700.75.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share 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 the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on NFLX shares. Canaccord Genuity Group raised their price target on shares of Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a report on Friday, October 18th. Pivotal Research lifted their price target on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. TD Cowen boosted their price target on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wedbush restated an “outperform” rating and issued a $950.00 price objective (up from $800.00) on shares of Netflix in a research note on Monday, November 18th. Finally, Oppenheimer upped their target price on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $770.12.

Insider Transactions at Netflix

In related news, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders have sold 185,866 shares of company stock valued at $133,393,921 over the last ninety days. Insiders own 1.76% of the company’s stock.

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.