Cornerstone Wealth Management LLC Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

Cornerstone Wealth Management LLC lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,649 shares of the Internet television network’s stock after acquiring an additional 77 shares during the period. Cornerstone Wealth Management LLC’s holdings in Netflix were worth $1,879,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. GQG Partners LLC purchased a new stake in Netflix in the first quarter valued at approximately $1,450,476,000. Jennison Associates LLC lifted its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares during the period. Global Assets Advisory LLC acquired a new position in Netflix in the first quarter valued at approximately $436,514,000. Jericho Capital Asset Management L.P. acquired a new position in Netflix in the first quarter valued at approximately $372,293,000. Finally, Swedbank AB acquired a new position in Netflix in the first quarter valued at approximately $216,538,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ NFLX opened at $687.65 on Friday. The stock has a market cap of $296.38 billion, a PE ratio of 47.72, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $736.00. The stock has a fifty day simple moving average of $693.78 and a 200-day simple moving average of $653.62.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the prior year, the business posted $3.29 EPS. The company’s revenue was up 16.8% compared to the same quarter last year. Equities analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Netflix news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction on 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 owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock worth $150,492,460 in the last three months. 1.76% of the stock is owned by company insiders.

Analyst Ratings Changes

NFLX has been the subject of a number of analyst reports. UBS Group boosted their price target on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a report on Friday, July 19th. Pivotal Research upped their target price on Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. The Goldman Sachs Group upped their target price on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Argus upped their target price on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, TD Cowen upped their target price on Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $705.74.

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.