Cornerstone Wealth Management LLC Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Cornerstone Wealth Management LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.0% during the third quarter, Holdings Channel reports. The institutional investor owned 2,649 shares of the Internet television network’s stock after buying an additional 77 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Netflix were worth $1,879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Denver PWM LLC purchased a new position in shares of Netflix during the second quarter worth about $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the last quarter. Indiana Trust & Investment Management CO grew its holdings in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares during the last quarter. Proffitt & Goodson Inc. grew its holdings in shares of Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its stake in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after buying an additional 45 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Netflix

In related news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leslie J. Kilgore sold 402 shares of Netflix stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $291,450.00. Following the transaction, the director now owns 35,262 shares in the company, valued at $25,564,950. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Down 2.0 %

Shares of NFLX opened at $687.65 on Friday. The firm has a market cap of $296.38 billion, a PE ratio of 47.72, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company’s fifty day moving average is $693.78 and its two-hundred day moving average is $653.62. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $736.00. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the business earned $3.29 EPS. Analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Sanford C. Bernstein increased their target price on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Guggenheim increased their target price on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. The Goldman Sachs Group raised their price objective on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. China Renaissance assumed coverage on shares of Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective for the company. Finally, Macquarie raised their price objective on shares of Netflix from $695.00 to $795.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $705.74.

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.