Granite Group Advisors LLC Has $296,000 Holdings in Netflix, Inc. (NASDAQ:NFLX)

Granite Group Advisors LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 47.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 417 shares of the Internet television network’s stock after selling 370 shares during the period. Granite Group Advisors LLC’s holdings in Netflix were worth $296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Denver PWM LLC bought a new stake in shares of Netflix in the 2nd quarter valued at $25,000. Proffitt & Goodson Inc. lifted its holdings in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares during the period. AlphaMark Advisors LLC increased its holdings in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Netflix during the second quarter worth about $38,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX traded down $1.52 during trading hours on Friday, hitting $795.02. The company had a trading volume of 319,036 shares, compared to its average volume of 3,668,334. The business has a fifty day moving average of $717.59 and a 200-day moving average of $667.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $339.84 billion, a price-to-earnings ratio of 45.08, a PEG ratio of 1.46 and a beta of 1.25. Netflix, Inc. has a 12 month low of $434.35 and a 12 month high of $799.06.

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total transaction of $334,319.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Jay C. Hoag sold 37,675 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $629.73, for a total transaction of $23,725,077.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $772.10, for a total value of $334,319.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 242,112 shares of company stock valued at $169,954,456. 1.76% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NFLX shares. Macquarie reiterated an “outperform” rating and issued a $795.00 price objective on shares of Netflix in a research report on Friday, October 18th. Citigroup upped their price target on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Piper Sandler restated an “overweight” rating and set a $840.00 price objective (up from $800.00) on shares of Netflix in a report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Guggenheim lifted their price target on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $748.15.

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.