Baskin Financial Services Inc. Sells 87 Shares of Netflix, Inc. (NASDAQ:NFLX)

Baskin Financial Services Inc. trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 0.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,868 shares of the Internet television network’s stock after selling 87 shares during the period. Netflix makes up approximately 3.3% of Baskin Financial Services Inc.’s portfolio, making the stock its 14th biggest position. Baskin Financial Services Inc.’s holdings in Netflix were worth $40,335,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Denver PWM LLC bought a new stake in shares of Netflix during the second quarter worth about $25,000. Valued Wealth Advisors LLC lifted its holdings in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 20 shares in the last quarter. Proffitt & Goodson Inc. lifted its holdings in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. AlphaMark Advisors LLC boosted its position in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the last quarter. Finally, Indiana Trust & Investment Management CO grew its holdings in Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

NFLX traded down $3.69 during midday trading on Wednesday, hitting $702.29. The stock had a trading volume of 837,033 shares, compared to its average volume of 3,627,877. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $736.00. The company has a market cap of $302.69 billion, a P/E ratio of 48.75, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The business has a fifty day moving average of $690.82 and a 200 day moving average of $653.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.29 earnings per share. As a group, equities analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

NFLX has been the topic of several recent analyst reports. UBS Group raised their price objective on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Piper Sandler upgraded shares of Netflix from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $650.00 to $800.00 in a report on Monday, October 7th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Oppenheimer boosted their target price on Netflix from $725.00 to $775.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Pivotal Research increased their price target on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $704.26.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,167 shares of company stock valued at $150,492,460 in the last quarter. Insiders own 1.76% of the company’s stock.

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.