Cornerstone Advisory LLC Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Cornerstone Advisory LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 23.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 506 shares of the Internet television network’s stock after acquiring an additional 96 shares during the quarter. Cornerstone Advisory LLC’s holdings in Netflix were worth $451,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital & Planning LLC acquired a new position in Netflix during the fourth quarter worth $809,000. XML Financial LLC increased its position in shares of Netflix by 7.1% in the fourth quarter. XML Financial LLC now owns 330 shares of the Internet television network’s stock valued at $294,000 after buying an additional 22 shares in the last quarter. Albion Financial Group UT raised its stake in shares of Netflix by 622.2% during the 4th quarter. Albion Financial Group UT now owns 65 shares of the Internet television network’s stock worth $58,000 after buying an additional 56 shares during the last quarter. Evolution Wealth Advisors LLC boosted its position in shares of Netflix by 13.0% in the 4th quarter. Evolution Wealth Advisors LLC now owns 582 shares of the Internet television network’s stock worth $519,000 after buying an additional 67 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its position in shares of Netflix by 12.1% in the 4th quarter. Wesbanco Bank Inc. now owns 10,062 shares of the Internet television network’s stock worth $8,968,000 after buying an additional 1,083 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other news, insider Cletus R. Willems sold 298 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total value of $339,124.00. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $35,972,180. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now owns 394 shares in the company, valued at approximately $362,933.10. The trade was a 98.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,868 shares of company stock valued at $138,483,256 over the last three months. 1.76% of the stock is owned by company insiders.

Netflix Trading Down 0.6%

Shares of NFLX stock opened at $1,187.97 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,211.22. The firm’s 50 day moving average price is $1,031.11 and its two-hundred day moving average price is $957.63. The stock has a market cap of $505.57 billion, a price-to-earnings ratio of 59.91, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the business posted $8.28 EPS. On average, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Ratings Changes

NFLX has been the subject of several recent research reports. Macquarie raised their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Piper Sandler set a $1,150.00 price objective on Netflix and gave the stock an “overweight” rating in a research report on Monday, April 21st. Pivotal Research upped their target price on Netflix from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research note on Monday, April 21st. KeyCorp raised their price target on Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Finally, Morgan Stanley boosted their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,102.79.

About Netflix

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.