Sandy Cove Advisors LLC Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Sandy Cove Advisors LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,277 shares of the Internet television network’s stock after acquiring an additional 27 shares during the period. Sandy Cove Advisors LLC’s holdings in Netflix were worth $1,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Advisory Resource Group grew its holdings in shares of Netflix by 0.7% during the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock worth $1,238,000 after purchasing an additional 12 shares during the period. Insight Wealth Strategies LLC raised its position in shares of Netflix by 1.9% in the 4th quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock valued at $585,000 after purchasing an additional 12 shares in the last quarter. Sunflower Bank N.A. grew its holdings in Netflix by 2.1% during the 4th quarter. Sunflower Bank N.A. now owns 575 shares of the Internet television network’s stock worth $513,000 after acquiring an additional 12 shares in the last quarter. New World Advisors LLC raised its stake in Netflix by 2.0% during the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after buying an additional 14 shares in the last quarter. Finally, Trust Co. of Vermont lifted its stake in Netflix by 2.5% during the fourth quarter. Trust Co. of Vermont now owns 570 shares of the Internet television network’s stock worth $508,000 after purchasing an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock worth $127,616,898 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $858.10 on Friday. The firm has a market capitalization of $366.80 billion, a P/E ratio of 48.56, a P/E/G ratio of 1.35 and a beta of 1.27. The company has a fifty day moving average of $884.58 and a 200-day moving average of $758.48. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $476.06 and a twelve month high of $941.75.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $9.77 billion. As a group, sell-side analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Evercore ISI upped their price objective on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Jefferies Financial Group increased their target price on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Saturday, December 21st. Finally, TD Cowen boosted their target price on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average price target of $845.06.

About Netflix

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.