Cornerstone Advisors LLC Boosts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Cornerstone Advisors LLC boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,400 shares of the Internet television network’s stock after buying an additional 200 shares during the quarter. Netflix accounts for approximately 0.9% of Cornerstone Advisors LLC’s investment portfolio, making the stock its 24th largest position. Cornerstone Advisors LLC’s holdings in Netflix were worth $22,640,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Swedbank AB increased its holdings in shares of Netflix by 1.8% during the third quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock valued at $329,958,000 after acquiring an additional 8,024 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Netflix by 13.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after buying an additional 198,148 shares in the last quarter. Leavell Investment Management Inc. raised its stake in Netflix by 11.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 622 shares of the Internet television network’s stock valued at $441,000 after purchasing an additional 63 shares during the last quarter. Assetmark Inc. raised its stake in Netflix by 11.6% in the 3rd quarter. Assetmark Inc. now owns 24,769 shares of the Internet television network’s stock valued at $17,568,000 after purchasing an additional 2,580 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in Netflix by 6.2% in the 3rd quarter. Sigma Planning Corp now owns 5,186 shares of the Internet television network’s stock valued at $3,679,000 after purchasing an additional 305 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 2,682 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. Insiders have sold a total of 288,103 shares of company stock worth $279,142,041 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

Netflix Price Performance

Netflix stock opened at $866.68 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $370.73 billion, a PE ratio of 43.71, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The stock has a 50-day moving average price of $949.59 and a two-hundred day moving average price of $843.79.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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 return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter last year, the firm posted $2.11 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. Analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $1,175.00 price target (up from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. 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 report on Wednesday, January 22nd. UBS Group reiterated a “buy” rating on shares of Netflix in a research note on Monday. KeyCorp lifted their price objective on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,014.26.

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.