Pine Haven Investment Counsel Inc Sells 25 Shares of Netflix, Inc. (NASDAQ:NFLX)

Pine Haven Investment Counsel Inc trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 852 shares of the Internet television network’s stock after selling 25 shares during the quarter. Pine Haven Investment Counsel Inc’s holdings in Netflix were worth $795,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brown Shipley& Co Ltd purchased a new position in Netflix during the fourth quarter valued at $27,000. Pathway Financial Advisers LLC raised its stake in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares during the period. Transce3nd LLC bought a new position in shares of Netflix in the fourth quarter worth about $32,000. Pineridge Advisors LLC lifted its position in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after buying an additional 40 shares in the last quarter. Finally, Copia Wealth Management bought a new position in shares of Netflix during the 4th quarter valued at approximately $37,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Cletus R. Willems sold 298 shares of Netflix stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $35,972,180. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay C. Hoag sold 32,515 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the transaction, the director now owns 79,040 shares in the company, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,390 shares of company stock valued at $170,509,439 in the last ninety days. 1.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on NFLX. Piper Sandler set a $1,150.00 target price on shares of Netflix and gave the stock an “overweight” rating in a research note on Monday, April 21st. UBS Group raised their price objective on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a “buy” rating in a research report on Wednesday. Macquarie upped their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. Bank of America raised their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a report on Friday, May 30th. Finally, Cfra Research upgraded Netflix to a “strong-buy” rating in a research report on Monday, April 28th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,149.91.

Netflix Stock Performance

NASDAQ NFLX opened at $1,241.47 on Friday. The business’s 50 day moving average price is $1,087.80 and its 200-day moving average price is $987.81. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The company has a market cap of $528.33 billion, a P/E ratio of 62.61, a P/E/G ratio of 2.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share 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 analysts’ expectations 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 previous year, the business posted $8.28 earnings per share. Sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.