Cornerstone Advisors LLC Sells 100 Shares of Netflix, Inc. (NASDAQ:NFLX)

Cornerstone Advisors LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,400 shares of the Internet television network’s stock after selling 100 shares during the quarter. Cornerstone Advisors LLC’s holdings in Netflix were worth $14,442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the business. Precision Wealth Strategies LLC lifted its stake in shares of Netflix by 3.5% in the 4th quarter. Precision Wealth Strategies LLC now owns 2,444 shares of the Internet television network’s stock valued at $1,190,000 after acquiring an additional 83 shares during the last quarter. Gilbert & Cook Inc. grew its holdings in shares of Netflix by 5.9% in the fourth quarter. Gilbert & Cook Inc. now owns 2,177 shares of the Internet television network’s stock worth $1,060,000 after purchasing an additional 121 shares during the last quarter. Aveo Capital Partners LLC increased its stake in shares of Netflix by 6.9% in the fourth quarter. Aveo Capital Partners LLC now owns 667 shares of the Internet television network’s stock worth $325,000 after buying an additional 43 shares during the period. Gryphon Financial Partners LLC raised its holdings in Netflix by 20.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,971 shares of the Internet television network’s stock valued at $1,933,000 after buying an additional 674 shares during the last quarter. Finally, AMG National Trust Bank boosted its position in Netflix by 26.8% during the 4th quarter. AMG National Trust Bank now owns 1,589 shares of the Internet television network’s stock valued at $774,000 after buying an additional 336 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 1.5 %

Shares of Netflix stock opened at $697.06 on Monday. The company’s 50 day moving average is $660.00 and its 200 day moving average is $637.88. The company has a market cap of $299.16 billion, a price-to-earnings ratio of 48.37, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $711.33.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.29 earnings per share. Research analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price objective on shares of Netflix in a research report on Friday, July 19th. Bank of America boosted their target price on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Rosenblatt Securities raised their price target on Netflix from $554.00 to $635.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Evercore ISI upped their price objective on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Leslie J. Kilgore sold 1,372 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total value of $966,999.32. The disclosure for this sale can be found here. Insiders have sold a total of 196,798 shares of company stock valued at $129,552,672 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

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.