Beech Hill Advisors Inc. Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Beech Hill Advisors Inc. lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,040 shares of the Internet television network’s stock after selling 70 shares during the quarter. Netflix makes up approximately 1.5% of Beech Hill Advisors Inc.’s portfolio, making the stock its 27th biggest position. Beech Hill Advisors Inc.’s holdings in Netflix were worth $3,668,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. VitalStone Financial LLC boosted its stake in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the period. Scarborough Advisors LLC purchased a new stake in Netflix in the fourth quarter worth $32,000. Beaird Harris Wealth Management LLC lifted its stake in Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares during the period. Spartan Planning & Wealth Management purchased a new stake in Netflix in the third quarter worth $26,000. Finally, Blue Bell Private Wealth Management LLC lifted its stake in Netflix by 89.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock worth $36,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total value of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at $15,443.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares in the company, valued at $15,443.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,425 shares of company stock valued at $41,919,791. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

NASDAQ NFLX opened at $672.41 on Wednesday. Netflix, Inc. has a one year low of $344.73 and a one year high of $689.88. The stock has a 50-day moving average of $623.78 and a 200 day moving average of $580.61. The company has a market capitalization of $289.81 billion, a price-to-earnings ratio of 46.66, a PEG ratio of 1.45 and a beta of 1.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. Netflix’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company earned $2.88 EPS. On average, sell-side analysts forecast that Netflix, Inc. will post 18.31 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on NFLX shares. Citigroup raised their price target on Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research note on Monday, March 25th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $585.00 price target (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. Wells Fargo & Company raised their price target on Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. CICC Research began coverage on Netflix in a research note on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.53.

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.