Eagle Bay Advisors LLC Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Eagle Bay Advisors LLC lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 310 shares of the Internet television network’s stock after selling 58 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Netflix were worth $276,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix during the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Netflix during the third quarter valued at approximately $37,000. FSA Wealth Management LLC bought a new position in shares of Netflix during the third quarter valued at approximately $38,000. Finally, First Personal Financial Services bought a new position in shares of Netflix during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX traded down $3.93 on Monday, hitting $833.76. The stock had a trading volume of 1,218,859 shares, compared to its average volume of 2,813,751. The stock has a market cap of $356.40 billion, a price-to-earnings ratio of 47.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The business’s 50-day simple moving average is $878.06 and its two-hundred day simple moving average is $753.78. Netflix, Inc. has a 52-week low of $475.26 and a 52-week high of $941.75.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. As a group, research analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on NFLX shares. Piper Sandler restated an “overweight” rating and set a $840.00 target price (up previously from $800.00) on shares of Netflix in a report on Friday, October 18th. JPMorgan Chase & Co. decreased their target price on Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a report on Friday. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Barclays reiterated an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a report on Friday, October 18th. Finally, Wedbush reiterated an “outperform” rating and issued a $950.00 price objective (up previously from $800.00) on shares of Netflix in a report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $827.79.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders have sold 156,742 shares of company stock valued at $131,030,268 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

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.