HighPoint Advisor Group LLC Makes New $4.86 Million Investment in Netflix, Inc. (NASDAQ:NFLX)

HighPoint Advisor Group LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLXFree Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,981 shares of the Internet television network’s stock, valued at approximately $4,860,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NFLX. Napatree Capital LLC purchased a new stake in Netflix in the 4th quarter valued at $557,000. PNC Financial Services Group Inc. increased its stake in Netflix by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 162,050 shares of the Internet television network’s stock valued at $78,899,000 after purchasing an additional 5,450 shares during the period. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Netflix in the fourth quarter valued at about $1,078,000. Ariston Services Group acquired a new stake in Netflix during the 4th quarter worth approximately $411,000. Finally, B. Riley Wealth Advisors Inc. grew its stake in shares of Netflix by 7.5% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 16,334 shares of the Internet television network’s stock valued at $7,953,000 after purchasing an additional 1,144 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NFLX has been the subject of several analyst reports. BMO Capital Markets restated an “outperform” rating and set a $713.00 price target (up previously from $638.00) on shares of Netflix in a research note on Wednesday, April 17th. Guggenheim upped their price objective on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. TD Cowen lifted their target price on shares of Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a report on Monday, April 8th. Rosenblatt Securities increased their price target 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, Bank of America lifted their price objective on Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $632.06.

Check Out Our Latest Stock Analysis on NFLX

Netflix Trading Up 0.5 %

Shares of NFLX traded up $3.57 during mid-day trading on Tuesday, reaching $679.40. The company had a trading volume of 300,572 shares, compared to its average volume of 4,014,270. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $682.71. The firm has a fifty day simple moving average of $616.48 and a 200-day simple moving average of $571.10. The stock has a market cap of $292.82 billion, a price-to-earnings ratio of 46.90, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLXGet Free Report) last issued 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. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.88 earnings per share. On average, sell-side analysts anticipate that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $593.81, for a total value of $758,889.18. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $7,772,972.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $593.81, for a total value of $758,889.18. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,772,972.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,835,750. The disclosure for this sale can be found here. Insiders have sold a total of 69,425 shares of company stock worth $41,919,791 over the last quarter. 1.76% of the stock is owned by corporate insiders.

About Netflix

(Free Report)

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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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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