Cornerstone Wealth Group LLC Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Cornerstone Wealth Group LLC raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.4% in the 3rd quarter, Holdings Channel reports. The fund owned 1,492 shares of the Internet television network’s stock after acquiring an additional 221 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Netflix were worth $1,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. New World Advisors LLC raised its stake in Netflix by 2.0% during the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after acquiring an additional 14 shares during the last quarter. Heartland Bank & Trust Co raised its stake in shares of Netflix by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after buying an additional 15 shares in the last quarter. Cedrus LLC raised its stake in shares of Netflix by 0.8% during the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after buying an additional 15 shares in the last quarter. Capstone Triton Financial Group LLC raised its stake in shares of Netflix by 0.6% during the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after buying an additional 15 shares in the last quarter. Finally, Meritas Wealth Management LLC raised its stake in shares of Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after buying an additional 16 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Leslie J. Kilgore sold 358 shares of Netflix stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at $26,975,430. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Leslie J. Kilgore sold 358 shares of Netflix stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the transaction, the director now owns 35,262 shares in the company, valued at approximately $26,975,430. This trade represents a 0.00 % 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 the SEC website. Also, Director Richard N. Barton sold 5,698 shares of Netflix stock in a transaction on Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the transaction, the director now owns 246 shares in the company, valued at $185,976. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 209,810 shares of company stock valued at $142,049,542 over the last quarter. Company insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group set a $750.00 target price on Netflix in a research note on Friday, October 18th. KeyCorp increased their target price on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Rosenblatt Securities increased their target price on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company increased their target price on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, TD Cowen upped their price target on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $748.15.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $753.74 on Thursday. The company has a market cap of $322.19 billion, a P/E ratio of 42.66, a P/E/G ratio of 1.45 and a beta of 1.26. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 52 week low of $404.63 and a 52 week high of $773.00. The business has a fifty day simple moving average of $710.23 and a 200-day simple moving average of $662.33.

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.