Beacon Financial Group Sells 26 Shares of Netflix, Inc. (NASDAQ:NFLX)

Beacon Financial Group trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 846 shares of the Internet television network’s stock after selling 26 shares during the quarter. Beacon Financial Group’s holdings in Netflix were worth $754,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC bought a new stake in Netflix during the 4th quarter valued at $34,000. MidAtlantic Capital Management Inc. bought a new stake in Netflix during the 3rd quarter valued at $37,000. Finally, Pineridge Advisors LLC raised its holdings in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after buying an additional 40 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NFLX shares. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target for the company in a report on Thursday, January 23rd. Jefferies Financial Group boosted their price objective on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Oppenheimer boosted their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Finally, StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total value of $473,640.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 424 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $994.63, for a total transaction of $421,723.12. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $31,440,254.30. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,809 shares of company stock worth $290,374,484 in the last quarter. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX opened at $1,027.31 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $439.44 billion, a P/E ratio of 51.81, a P/E/G ratio of 2.11 and a beta of 1.27. The company’s 50-day simple moving average is $922.08 and its two-hundred day simple moving average is $797.72. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,032.85.

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

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.