HighPoint Advisor Group LLC Increases Position in Netflix, Inc. (NASDAQ:NFLX)

HighPoint Advisor Group LLC lifted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,832 shares of the Internet television network’s stock after buying an additional 380 shares during the quarter. Netflix makes up about 0.6% of HighPoint Advisor Group LLC’s portfolio, making the stock its 29th biggest position. HighPoint Advisor Group LLC’s holdings in Netflix were worth $10,546,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after buying an additional 198,148 shares during the period. Tradition Wealth Management LLC increased its position in shares of Netflix by 11.1% during the third quarter. Tradition Wealth Management LLC now owns 859 shares of the Internet television network’s stock worth $609,000 after acquiring an additional 86 shares during the period. Cobblestone Capital Advisors LLC NY increased its position in shares of Netflix by 5.6% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 681 shares of the Internet television network’s stock worth $483,000 after acquiring an additional 36 shares during the period. Erste Asset Management GmbH bought a new stake in shares of Netflix during the third quarter valued at approximately $145,252,000. Finally, Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Netflix by 776.3% in the third quarter. Mark Sheptoff Financial Planning LLC now owns 333 shares of the Internet television network’s stock valued at $236,000 after purchasing an additional 295 shares during the period. 80.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NFLX. The Goldman Sachs Group lifted their target price on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Loop Capital reiterated a “hold” rating on shares of Netflix in a report on Monday, March 24th. FBN Securities initiated coverage on shares of Netflix in a research report on Thursday. They issued an “outperform” rating and a $1,165.00 price target for the company. Finally, Arete Research upgraded shares of Netflix to a “hold” rating in a research note on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $1,021.02.

Insider Buying and Selling at Netflix

In related news, insider David A. Hyman sold 41,121 shares of Netflix stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the sale, the chief executive officer now owns 12,950 shares in the company, valued at approximately $12,700,583. This represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,583 shares of company stock worth $279,611,567. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $933.85 on Monday. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $399.46 billion, a P/E ratio of 47.09, a P/E/G ratio of 2.12 and a beta of 1.38. The business’s 50 day moving average price is $971.74 and its 200 day moving average price is $869.42.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 earnings per share. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.