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

Sandy Cove Advisors LLC increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,277 shares of the Internet television network’s stock after acquiring an additional 27 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Netflix were worth $1,138,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in Netflix during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of 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 in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix during the 3rd quarter valued at about $37,000. FSA Wealth Management LLC purchased a new stake in Netflix in the third quarter worth approximately $38,000. Finally, First Personal Financial Services bought a new stake in shares of Netflix in the 3rd quarter worth approximately $40,000. 80.93% of the stock is currently owned by institutional investors.

Insider Transactions at Netflix

In related news, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were 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 of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,198 shares of company stock worth $127,616,898. 1.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Evercore ISI boosted their price objective on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Morgan Stanley raised their target price on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Argus upped their price target on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Wedbush reissued an “outperform” rating and issued a $950.00 price target (up previously from $800.00) on shares of Netflix in a report on Monday, November 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $845.06.

Netflix Stock Performance

NASDAQ:NFLX opened at $858.10 on Friday. The company has a market cap of $366.80 billion, a price-to-earnings ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a 52-week low of $476.06 and a 52-week high of $941.75. The firm’s 50-day moving average is $884.58 and its 200-day moving average is $758.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last released its quarterly 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 business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Equities research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share 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.