Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Cassady Schiller Wealth Management LLC

Cassady Schiller Wealth Management LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 19,863.0% in the fourth quarter, Holdings Channel reports. The fund owned 5,390 shares of the Internet television network’s stock after buying an additional 5,363 shares during the quarter. Netflix makes up about 1.3% of Cassady Schiller Wealth Management LLC’s holdings, making the stock its 17th biggest holding. Cassady Schiller Wealth Management LLC’s holdings in Netflix were worth $2,624,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Netflix during the fourth quarter valued at $2,558,598,000. International Assets Investment Management LLC lifted its holdings in Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after purchasing an additional 2,061,859 shares during the period. Jennison Associates LLC lifted its holdings in Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Netflix by 142.6% in the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after purchasing an additional 392,427 shares during the period. Finally, Alecta Tjanstepension Omsesidigt lifted its holdings in Netflix by 171.4% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 475,000 shares of the Internet television network’s stock worth $231,258,000 after purchasing an additional 300,000 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on NFLX. CICC Research began coverage on shares of Netflix in a report on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price objective for the company. Macquarie upped their price objective on shares of Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Guggenheim upped their price objective on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Rosenblatt Securities upped their price objective on shares of Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Finally, Redburn Atlantic upped their price target on shares of Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $630.53.

Insider Activity

In other news, CEO Gregory K. Peters sold 5,821 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $3,492,600.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,854,000. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Gregory K. Peters sold 5,821 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $3,492,600.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $7,854,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,039 shares of company stock worth $46,401,083. 1.76% of the stock is owned by corporate insiders.

Netflix Price Performance

Netflix stock traded down $8.13 during mid-day trading on Thursday, hitting $632.34. 1,274,989 shares of the company were exchanged, compared to its average volume of 4,242,194. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $606.33 and a 200 day moving average of $546.83. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $650.88. The company has a market capitalization of $272.54 billion, a PE ratio of 44.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the company posted $2.88 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts expect that Netflix, Inc. will post 18.31 earnings per share for the current year.

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.