Eastover Investment Advisors LLC Makes New Investment in Netflix, Inc. $NFLX

Eastover Investment Advisors LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 112,257 shares of the Internet television network's stock, valued at approximately $7,811,000. Netflix makes up 3.3% of Eastover Investment Advisors LLC's portfolio, making the stock its 15th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the business. American Capital Advisory LLC raised its position in Netflix by 0.8% in the first quarter. American Capital Advisory LLC now owns 13,990 shares of the Internet television network's stock valued at $1,345,000 after purchasing an additional 109 shares during the period. CWS Financial Advisors LLC boosted its position in shares of Netflix by 3.2% in the first quarter. CWS Financial Advisors LLC now owns 3,612 shares of the Internet television network's stock worth $347,000 after buying an additional 112 shares during the period. Warner Group LLC grew its stake in shares of Netflix by 2.2% in the first quarter. Warner Group LLC now owns 5,230 shares of the Internet television network's stock valued at $503,000 after buying an additional 114 shares in the last quarter. Financial Avengers Inc. grew its stake in shares of Netflix by 9.8% in the first quarter. Financial Avengers Inc. now owns 1,290 shares of the Internet television network's stock valued at $124,000 after buying an additional 115 shares in the last quarter. Finally, PAX Financial Group LLC raised its holdings in shares of Netflix by 2.5% during the 1st quarter. PAX Financial Group LLC now owns 4,847 shares of the Internet television network's stock valued at $466,000 after buying an additional 116 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Down 0.5%

NFLX stock traded down $0.33 during midday trading on Monday, hitting $66.73. 15,928,773 shares of the company's stock were exchanged, compared to its average volume of 42,486,203. The firm has a 50 day moving average price of $75.73 and a 200-day moving average price of $82.16. Netflix, Inc. has a 12-month low of $65.08 and a 12-month high of $124.86. The stock has a market capitalization of $277.87 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 0.95 and a beta of 1.62. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.39.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, July 16th. The Internet television network reported $0.80 EPS for the quarter, beating the consensus estimate of $0.79 by $0.01. Netflix had a return on equity of 40.02% and a net margin of 28.22%.The company had revenue of $12.56 billion during the quarter, compared to analysts' expectations of $12.58 billion. During the same period in the prior year, the business posted $0.72 EPS. The business's revenue was up 13.4% on a year-over-year basis. On average, analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. TD Cowen reissued a "buy" rating and set a $100.00 price target on shares of Netflix in a research report on Monday. UBS Group lowered their price objective on shares of Netflix from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, July 17th. Oppenheimer set a $85.00 price objective on shares of Netflix and gave the company an "outperform" rating in a research note on Friday, July 17th. BMO Capital Markets reissued an "outperform" rating on shares of Netflix in a research report on Tuesday, September 22nd. Finally, Guggenheim restated a "buy" rating and issued a $80.00 target price (up from $75.00) on shares of Netflix in a research note on Thursday. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $95.27.

Insider Transactions at Netflix

In other Netflix news, CEO Gregory Peters sold 27,312 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $73.54, for a total transaction of $2,008,524.48. Following the transaction, the chief executive officer directly owned 120,931 shares in the company, valued at $8,893,265.74. This represents a 18.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Theodore Sarandos sold 27,312 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $73.35, for a total transaction of $2,003,335.20. Following the transaction, the chief executive officer directly owned 178,954 shares of the company's stock, valued at approximately $13,126,275.90. This represents a 13.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 179,045 shares of company stock valued at $13,132,194 over the last ninety days. 1.24% of the stock is currently owned by corporate insiders.

Netflix Company Profile

Netflix, Inc NASDAQ: NFLX is a global entertainment company that operates a subscription-based streaming service. It offers a broad range of television series, films, documentaries, and other programming, including original productions developed under the Netflix brand and licensed content from third-party studios.

The company also provides advertising-supported viewing options in some markets and has expanded into related entertainment categories, including mobile and cloud-based games, live programming, and consumer products associated with selected titles.

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