Cascades Capital Asset Management LLC Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Cascades Capital Asset Management LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 25.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 432 shares of the Internet television network’s stock after purchasing an additional 87 shares during the period. Cascades Capital Asset Management LLC’s holdings in Netflix were worth $385,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares in the last quarter. First National Trust Co increased its position in shares of Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after acquiring an additional 12 shares during the last quarter. Haven Private LLC purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $733,000. Sigma Planning Corp lifted its holdings in Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after acquiring an additional 386 shares during the period. Finally, M&T Bank Corp boosted its position in Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after purchasing an additional 1,684 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NFLX shares. JPMorgan Chase & Co. raised their target price on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $715.00 to $900.00 in a report on Wednesday, January 22nd. Argus boosted their target price on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Macquarie raised their price target on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,023.74.

Netflix Trading Down 6.7 %

Shares of Netflix stock opened at $855.86 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The firm has a market cap of $366.10 billion, a PE ratio of 43.16, a PEG ratio of 2.12 and a beta of 1.38. The company has a 50 day simple moving average of $970.24 and a two-hundred day simple moving average of $874.63.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates 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 $10.14 billion. During the same period in the prior year, the business posted $2.11 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. Analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares of the company’s stock, valued at $362,933.10. This trade represents a 98.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the transaction, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 280,676 shares of company stock worth $273,515,672 in the last 90 days. Company insiders own 1.76% of the company’s stock.

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.