Beech Hill Advisors Inc. Decreases Stock Holdings in Netflix, Inc. $NFLX

Key Points

• Beech Hill Advisors Inc. has reduced its stake in Netflix by 36.4%, holding 3,264 shares worth approximately $4.37 million, making Netflix the 15th largest position in its portfolio.
• Insiders have sold a total of 104,100 shares of Netflix stock valued at around $122.71 million in the past 90 days, representing a significant decrease in their ownership.
• Netflix’s stock recently opened at $1,238.56 and saw a 3.3% increase, with analysts giving it an average rating of "Moderate Buy" and a target price around $1,339.81.

Beech Hill Advisors Inc. lowered its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 36.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,264 shares of the Internet television network's stock after selling 1,865 shares during the period. Netflix makes up about 2.0% of Beech Hill Advisors Inc.'s portfolio, making the stock its 15th largest position. Beech Hill Advisors Inc.'s holdings in Netflix were worth $4,371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after buying an additional 144 shares during the last quarter. GAMMA Investing LLC increased its position in Netflix by 17.6% during the 1st quarter. GAMMA Investing LLC now owns 9,475 shares of the Internet television network's stock valued at $8,836,000 after buying an additional 1,415 shares in the last quarter. Crews Bank & Trust boosted its holdings in Netflix by 15.0% in the first quarter. Crews Bank & Trust now owns 153 shares of the Internet television network's stock worth $143,000 after acquiring an additional 20 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its stake in shares of Netflix by 1.1% during the first quarter. Flagship Harbor Advisors LLC now owns 10,476 shares of the Internet television network's stock worth $9,769,000 after acquiring an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Up 3.3%

NFLX stock opened at $1,238.56 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average of $1,213.87 and a two-hundred day moving average of $1,182.08. Netflix, Inc. has a 12 month low of $744.26 and a 12 month high of $1,341.15. The company has a market cap of $526.30 billion, a price-to-earnings ratio of 52.77, a PEG ratio of 2.02 and a beta of 1.59.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Seaport Res Ptn upgraded Netflix from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Zacks Research lowered shares of Netflix from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Pivotal Research reaffirmed a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Finally, Piper Sandler upped their price objective on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,339.81.

Insider Activity

In other Netflix news, Director Reed Hastings sold 42,176 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the transaction, the director owned 394 shares of the company's stock, valued at approximately $461,736.48. The trade was a 99.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 424 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the sale, the insider directly owned 31,610 shares of the company's stock, valued at $36,625,558.70. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock valued at $122,710,980 in the last 90 days. 1.37% of the stock is owned by 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.

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