Cary Street Partners Financial LLC Buys New Stake in Netflix, Inc. (NASDAQ:NFLX)

Cary Street Partners Financial LLC purchased a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,182 shares of the Internet television network's stock, valued at approximately $1,945,000.

Other large investors also recently modified their holdings of the company. Pathway Financial Advisers LLC lifted its holdings in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after buying an additional 14 shares during the period. Transce3nd LLC bought a new stake in Netflix in the fourth quarter worth about $32,000. Newton One Investments LLC acquired a new stake in Netflix in the 4th quarter valued at about $34,000. Pineridge Advisors LLC boosted its position in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after purchasing an additional 40 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its stake in shares of Netflix by 51.6% in the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock worth $42,000 after purchasing an additional 16 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Reed Hastings sold 26,977 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the transaction, the director now owns 394 shares of the company's stock, valued at approximately $446,421.70. This represents a 98.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,451 shares of company stock valued at $142,194,072. Insiders own 1.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NFLX. KeyCorp raised their target price on shares of Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Canaccord Genuity Group raised their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft boosted their target price on Netflix from $650.00 to $875.00 and gave the stock a "hold" rating in a research report on Wednesday, January 22nd. Seaport Res Ptn upgraded Netflix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. Finally, Rosenblatt Securities boosted their price objective on Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and an average price target of $1,084.91.

Netflix Trading Up 0.3 %

Netflix stock opened at $1,137.69 on Wednesday. The business's 50-day simple moving average is $974.71 and its 200-day simple moving average is $925.04. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,159.44. The firm has a market capitalization of $484.17 billion, a PE ratio of 57.37, a PEG ratio of 2.12 and a beta of 1.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period in the previous year, the company earned $8.28 earnings per share. Equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

About Netflix

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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