Benin Management CORP Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

Benin Management CORP cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 16.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 462 shares of the Internet television network’s stock after selling 89 shares during the quarter. Benin Management CORP’s holdings in Netflix were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Pathway Financial Advisers LLC increased its holdings in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares in the last quarter. Brown Shipley& Co Ltd purchased a new position in Netflix during the fourth quarter worth approximately $27,000. Transce3nd LLC acquired a new position in Netflix during the fourth quarter worth $32,000. Newton One Investments LLC purchased a new stake in Netflix in the 4th quarter valued at $34,000. Finally, Pineridge Advisors LLC increased its stake in shares of Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Down 0.1%

NFLX stock opened at $1,217.94 on Wednesday. The company has a market capitalization of $518.32 billion, a P/E ratio of 61.42, a PEG ratio of 2.12 and a beta of 1.58. The firm has a 50 day simple moving average of $1,069.06 and a 200-day simple moving average of $980.69. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,229.57.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the prior year, the business posted $8.28 EPS. On average, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NFLX. Wedbush reissued an “outperform” rating and set a $1,200.00 price target on shares of Netflix in a research report on Monday, May 5th. Evercore ISI reaffirmed an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Wolfe Research set a $1,340.00 price target on shares of Netflix and gave the company an “outperform” rating in a research note on Friday, May 16th. Wall Street Zen cut shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Cfra Research raised Netflix to a “strong-buy” rating in a research note on Monday, April 28th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,140.52.

Insider Buying and Selling at Netflix

In other Netflix news, Director Reed Hastings sold 26,933 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the sale, the director now directly owns 394 shares in the company, valued at approximately $477,394.04. This trade represents a 98.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. Insiders sold a total of 152,300 shares of company stock worth $169,146,939 over the last 90 days. Insiders own 1.37% 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.