First Long Island Investors LLC Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

First Long Island Investors LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 21.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,316 shares of the Internet television network’s stock after selling 3,300 shares during the period. First Long Island Investors LLC’s holdings in Netflix were worth $8,735,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. DigitalBridge Group Inc. boosted its position in Netflix by 35.5% in the 2nd 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 in the last quarter. M&G Plc acquired a new position in shares of Netflix during the 1st quarter worth approximately $9,682,000. Venturi Wealth Management LLC raised its stake in shares of Netflix by 27.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock worth $2,182,000 after buying an additional 664 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Netflix by 58.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after buying an additional 30,511 shares during the period. Finally, Forsta AP Fonden raised its stake in shares of Netflix by 7.7% during the 3rd quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock worth $86,105,000 after buying an additional 8,700 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 2.0 %

Netflix stock traded down $17.14 during midday trading on Friday, reaching $820.12. 1,023,846 shares of the stock traded hands, compared to its average volume of 3,646,529. The company has a 50-day simple moving average of $732.60 and a two-hundred day simple moving average of $677.72. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $841.00. The firm has a market cap of $350.57 billion, a PE ratio of 46.81, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. 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 posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion for 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%. Research analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NFLX. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Jefferies Financial Group upped their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Piper Sandler reissued an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a research note on Friday, October 18th. Finally, UBS Group increased their price objective on Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Two investment 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $748.15.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction 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 trade represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leslie J. Kilgore sold 1,372 shares of Netflix stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total value of $966,999.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,084 shares of company stock valued at $146,747,101. Corporate 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.