Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,778 shares of the Internet television network’s stock after acquiring an additional 129 shares during the period. Cornerstone Wealth Management LLC’s holdings in Netflix were worth $2,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. DigitalBridge Group Inc. increased its holdings in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares during the period. Nordea Investment Management AB boosted its position in Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after buying an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Netflix by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after buying an additional 29,726 shares during the period. Natixis Advisors LLC raised its position in Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after buying an additional 11,921 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after acquiring an additional 1,684 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Insiders sold a total of 146,500 shares of company stock valued at $123,309,210 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Up 3.2 %

Shares of NASDAQ:NFLX opened at $984.86 on Friday. Netflix, Inc. has a 52-week low of $537.07 and a 52-week high of $999.00. The stock has a market cap of $420.99 billion, a P/E ratio of 49.67, a PEG ratio of 1.53 and a beta of 1.27. The business has a fifty day moving average of $889.11 and a two-hundred day moving average of $763.41. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating 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 firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same quarter in the previous year, the company posted $2.11 EPS. The company’s revenue was up 16.0% compared to the same quarter last year. On average, research analysts expect that Netflix, Inc. will post 23.72 earnings per share for the current year.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Oppenheimer boosted their price objective on Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday. The Goldman Sachs Group raised their target price on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday. TD Cowen boosted their price target on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, StockNews.com cut shares of Netflix from a “buy” rating to a “hold” rating in a research note on Thursday. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $996.94.

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.