Granite Bay Wealth Management LLC Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Granite Bay Wealth Management LLC lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 4.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 435 shares of the Internet television network’s stock after selling 20 shares during the quarter. Granite Bay Wealth Management LLC’s holdings in Netflix were worth $388,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NFLX. State Street Corp increased its position in shares of Netflix by 2.6% during 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 acquiring an additional 426,740 shares during the period. Geode Capital Management LLC lifted its holdings in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares during the last quarter. Jennison Associates LLC lifted its stake in 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 last quarter. International Assets Investment Management LLC boosted its holdings in shares of Netflix by 116,620.0% in the 3rd 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 in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 0.3 %

Netflix stock opened at $840.29 on Tuesday. Netflix, Inc. has a fifty-two week low of $475.26 and a fifty-two week high of $941.75. The firm has a market capitalization of $359.19 billion, a price-to-earnings ratio of 47.55, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The stock’s fifty day moving average is $879.75 and its two-hundred day moving average is $754.88. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Citigroup raised their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Needham & Company LLC raised their price target on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. reduced their price objective on Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a research note on Friday. Bank of America increased their price objective on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Piper Sandler reissued an “overweight” rating and issued a $840.00 target price (up previously from $800.00) on shares of Netflix in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $832.94.

Insider Buying and Selling at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction dated 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 owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,742 shares of company stock valued at $131,030,268 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

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.