Cornerstone Capital Management Holdings LLC. raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,774 shares of the Internet television network’s stock after purchasing an additional 12,190 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Netflix were worth $18,819,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Almanack Investment Partners LLC. acquired a new stake in shares of Netflix in the 2nd quarter valued at approximately $101,000. Aviance Capital Management LLC acquired a new stake in shares of Netflix in the 2nd quarter valued at approximately $137,000. Captrust Financial Advisors acquired a new stake in shares of Netflix in the 2nd quarter valued at approximately $139,000. Grove Bank & Trust raised its position in shares of Netflix by 249.6% in the 3rd quarter. Grove Bank & Trust now owns 958 shares of the Internet television network’s stock valued at $174,000 after acquiring an additional 684 shares during the period. Finally, Harfst & Associates Inc. raised its position in shares of Netflix by 36.8% in the 2nd quarter. Harfst & Associates Inc. now owns 1,015 shares of the Internet television network’s stock valued at $151,000 after acquiring an additional 273 shares during the period. Institutional investors own 83.38% of the company’s stock.
In related news, insider Jonathan Friedland sold 3,617 shares of the firm’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $203.35, for a total value of $735,516.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Barton sold 350 shares of the firm’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $185.71, for a total transaction of $64,998.50. Following the completion of the transaction, the director now directly owns 7,171 shares of the company’s stock, valued at $1,331,726.41. The disclosure for this sale can be found here. Insiders sold 324,285 shares of company stock valued at $62,630,811 over the last three months. 4.90% of the stock is owned by company insiders.
Netflix, Inc. (NASDAQ:NFLX) opened at $188.54 on Friday. The firm has a market cap of $80,141.80, a P/E ratio of 187.07, a PEG ratio of 5.50 and a beta of 1.33. Netflix, Inc. has a 52 week low of $121.73 and a 52 week high of $204.38. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.20 and a current ratio of 1.20.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.03). Netflix had a net margin of 4.04% and a return on equity of 14.56%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the business posted $0.12 earnings per share. Netflix’s quarterly revenue was up 30.3% compared to the same quarter last year. equities research analysts predict that Netflix, Inc. will post 1.26 earnings per share for the current fiscal year.
A number of analysts recently weighed in on NFLX shares. Bank of America increased their price target on shares of Netflix from $199.00 to $225.00 in a research report on Tuesday, October 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price target on shares of Netflix in a research report on Wednesday, August 16th. Sanford C. Bernstein set a $203.00 price target on shares of Netflix and gave the company a “buy” rating in a research report on Wednesday, August 30th. KeyCorp reiterated a “buy” rating and issued a $190.00 price target on shares of Netflix in a research report on Friday, August 25th. Finally, Guggenheim reiterated a “buy” rating and issued a $210.00 price target (up from $190.00) on shares of Netflix in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Netflix has a consensus rating of “Buy” and an average price target of $209.65.
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Netflix Company Profile
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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