Cornerstone Advisors LLC Buys 3,800 Shares of Netflix, Inc. (NASDAQ:NFLX)

Cornerstone Advisors LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 17.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,200 shares of the Internet television network's stock after buying an additional 3,800 shares during the period. Cornerstone Advisors LLC's holdings in Netflix were worth $17,874,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NFLX. DigitalBridge Group Inc. boosted its position in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network's stock worth $24,338,000 after purchasing an additional 9,451 shares during the period. Natixis Advisors LLC increased its stake in Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network's stock worth $434,398,000 after buying an additional 11,921 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Netflix by 27.5% during the third quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network's stock valued at $2,182,000 after acquiring an additional 664 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network's stock valued at $55,968,000 after acquiring an additional 30,511 shares in the last quarter. Finally, Forsta AP Fonden boosted its stake in shares of Netflix by 7.7% in the third quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network's stock worth $86,105,000 after acquiring an additional 8,700 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares in the company, valued at $65,299,132.80. This trade represents a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $57,878.20. The trade was a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Up 1.4 %

Shares of Netflix stock opened at $883.85 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $377.81 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 1.68 and a beta of 1.25. The firm's 50-day moving average is $747.20 and its two-hundred day moving average is $686.80. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $890.60.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, research analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NFLX. The Goldman Sachs Group set a $750.00 target price on Netflix in a research note on Friday, October 18th. Guggenheim boosted their target price on shares of Netflix from $810.00 to $825.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. raised their target price on shares of Netflix from $750.00 to $850.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Wolfe Research reiterated an "outperform" rating on shares of Netflix in a research note on Friday, October 18th. Finally, Barclays restated an "underweight" rating and set a $550.00 price objective on shares of Netflix in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and a consensus target price of $758.76.

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.

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