Cynosure Group LLC Purchases 601 Shares of Netflix, Inc. (NASDAQ:NFLX)

Cynosure Group LLC lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 98.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,211 shares of the Internet television network’s stock after purchasing an additional 601 shares during the period. Cynosure Group LLC’s holdings in Netflix were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Denver PWM LLC bought a new position in shares of Netflix during the second quarter worth approximately $25,000. Proffitt & Goodson Inc. raised its holdings in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new position in Netflix in the 3rd quarter valued at approximately $37,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $57,878.20. This represents a 99.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,866 shares of company stock worth $133,393,921 in the last ninety days. 1.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NFLX shares. KeyCorp increased their price target on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Benchmark reaffirmed a “sell” rating and issued a $545.00 price objective on shares of Netflix in a research note on Tuesday, October 15th. Jefferies Financial Group lifted their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $840.00 price target (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Finally, Wolfe Research reissued an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Two research 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’s stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $764.82.

Netflix Price Performance

NFLX stock opened at $872.60 on Wednesday. The firm has a 50 day moving average of $762.10 and a 200-day moving average of $695.13. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $373.00 billion, a P/E ratio of 49.38, a price-to-earnings-growth ratio of 1.67 and a beta of 1.25. Netflix, Inc. has a 12 month low of $445.73 and a 12 month high of $908.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, sell-side analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

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.