Cerro Pacific Wealth Advisors LLC Has $865,000 Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Cerro Pacific Wealth Advisors LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 971 shares of the Internet television network’s stock after purchasing an additional 35 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Netflix were worth $865,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Ameriprise Financial Inc. raised its holdings in shares of Netflix by 5.4% in the second quarter. Ameriprise Financial Inc. now owns 1,120,690 shares of the Internet television network’s stock valued at $756,945,000 after purchasing an additional 57,567 shares during the last quarter. Employees Retirement System of Texas grew its position in Netflix by 2.2% in the 2nd quarter. Employees Retirement System of Texas now owns 141,527 shares of the Internet television network’s stock worth $95,514,000 after purchasing an additional 3,062 shares in the last quarter. DigitalBridge Group Inc. increased its stake in Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares during the last quarter. Decatur Capital Management Inc. lifted its position in shares of Netflix by 2.5% during the 2nd quarter. Decatur Capital Management Inc. now owns 4,895 shares of the Internet television network’s stock worth $3,304,000 after buying an additional 120 shares in the last quarter. Finally, DE Burlo Group Inc. purchased a new position in shares of Netflix in the 2nd quarter worth approximately $220,000. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $984.86 on Friday. The firm has a 50 day simple moving average of $889.11 and a two-hundred day simple moving average of $763.41. The stock has a market cap of $420.99 billion, a PE ratio of 49.67, a P/E/G ratio of 1.53 and a beta of 1.27. Netflix, Inc. has a one year low of $537.07 and a one year high of $999.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10,141,900 billion. During the same period in the previous year, the business earned $2.11 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, analysts predict that Netflix, Inc. will post 23.72 EPS for the current fiscal year.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Theodore A. Sarandos sold 1,278 shares of Netflix stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the transaction, the chief executive officer now owns 2,556 shares in the company, valued at approximately $1,960,579.80. This represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,500 shares of company stock valued at $123,309,210. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NFLX. Argus increased their price target on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday. TD Cowen boosted their price target on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Evercore ISI raised their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Citigroup lifted their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $996.94.

About Netflix

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.