Garden State Investment Advisory Services LLC Has $1.88 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Garden State Investment Advisory Services LLC reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,792 shares of the Internet television network’s stock after selling 85 shares during the period. Garden State Investment Advisory Services LLC’s holdings in Netflix were worth $1,884,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Denver PWM LLC acquired a new stake in Netflix during the second quarter worth approximately $25,000. Valued Wealth Advisors LLC increased its stake in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares in the last quarter. VitalStone Financial LLC lifted its position in shares of Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares during the period. Beaird Harris Wealth Management LLC boosted its stake in Netflix by 1,550.0% during 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 in the last quarter. Finally, Scarborough Advisors LLC bought a new stake in Netflix in the fourth quarter valued at $32,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

NASDAQ NFLX opened at $701.03 on Friday. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $715.66. The company has a fifty day moving average of $663.00 and a 200-day moving average of $640.55. The company has a market capitalization of $302.14 billion, a P/E ratio of 48.65, a P/E/G ratio of 1.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.29 EPS. As a group, equities research analysts predict that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Leslie J. Kilgore sold 428 shares of Netflix stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $715.00, for a total value of $306,020.00. The disclosure for this sale can be found here. Insiders have sold 197,226 shares of company stock worth $129,858,692 over the last ninety days. Insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on NFLX shares. TD Cowen raised their target price on Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Pivotal Research lifted their price target on shares of Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Sanford C. Bernstein raised their price objective on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Oppenheimer reissued an “outperform” rating and set a $725.00 target price on shares of Netflix in a research report on Tuesday, July 30th. Finally, Morgan Stanley raised their price target on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

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.