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

Garden State Investment Advisory Services LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,682 shares of the Internet television network’s stock after selling 46 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Netflix were worth $2,391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NFLX. Nordea Investment Management AB grew its holdings 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 acquiring an additional 156,958 shares during the period. First National Trust Co grew its holdings in Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after purchasing an additional 12 shares during the last quarter. Haven Private LLC purchased a new position in shares of Netflix in the fourth quarter valued at $733,000. Sigma Planning Corp raised its stake in shares of Netflix by 7.4% during the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after buying an additional 386 shares during the last quarter. Finally, M&T Bank Corp grew its stake in Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after acquiring an additional 1,684 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $976.28 on Wednesday. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $417.61 billion, a price-to-earnings ratio of 49.23, a PEG ratio of 2.12 and a beta of 1.55. The stock has a 50 day moving average of $957.71 and a 200-day moving average of $887.65.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. During the same quarter in the previous year, the firm earned $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NFLX. Morgan Stanley raised their price objective on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and boosted their price target for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Pivotal Research raised their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.31.

Insider Buying and Selling

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total value of $473,640.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the transaction, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. This trade represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 274,312 shares of company stock worth $267,919,297 over the last quarter. 1.76% of the stock is owned by company insiders.

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.