Cornerstone Wealth Group LLC Raises Stake in Netflix, Inc. (NASDAQ:NFLX)

Cornerstone Wealth Group LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 62.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,223 shares of the Internet television network’s stock after buying an additional 471 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Netflix were worth $743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. KFA Private Wealth Group LLC boosted its holdings in shares of Netflix by 1.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after purchasing an additional 18 shares during the period. Legacy Capital Group California Inc. boosted its holdings in shares of Netflix by 0.6% in the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after purchasing an additional 18 shares during the period. Founders Financial Alliance LLC boosted its holdings in shares of Netflix by 2.4% in the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after purchasing an additional 18 shares during the period. Addison Advisors LLC boosted its holdings in Netflix by 7.8% during the 4th quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock valued at $134,000 after acquiring an additional 20 shares during the period. Finally, PFS Partners LLC boosted its holdings in Netflix by 40.0% during the 1st quarter. PFS Partners LLC now owns 70 shares of the Internet television network’s stock valued at $43,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NFLX shares. Bank of America boosted their price objective on Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a report on Friday, April 19th. Barclays boosted their price objective on Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. TD Cowen upped their target price on Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Wedbush reiterated an “outperform” rating and issued a $725.00 target price on shares of Netflix in a report on Monday, May 20th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $585.00 price target (down from $720.00) on shares of Netflix in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $633.53.

Insider Transactions at Netflix

In related news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Anne M. Sweeney sold 633 shares of Netflix stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,835,750. The disclosure for this sale can be found here. Insiders sold a total of 48,859 shares of company stock worth $29,365,893 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of Netflix stock opened at $674.88 on Monday. The business has a 50 day simple moving average of $628.93 and a two-hundred day simple moving average of $585.07. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $689.88. The stock has a market capitalization of $290.87 billion, a P/E ratio of 46.83, a PEG ratio of 1.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the prior year, the firm earned $2.88 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts predict that Netflix, Inc. will post 18.31 EPS 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.