Cassady Schiller Wealth Management LLC Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Cassady Schiller Wealth Management LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 54.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74 shares of the Internet television network’s stock after acquiring an additional 26 shares during the period. Cassady Schiller Wealth Management LLC’s holdings in Netflix were worth $66,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NFLX. Proficio Capital Partners LLC lifted its position in Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after acquiring an additional 1,924,423 shares during the last quarter. State Street Corp lifted its position in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in Netflix by 112,896.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after acquiring an additional 381,590 shares during the last quarter. Jennison Associates LLC lifted its position in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Netflix in the third quarter valued at $222,871,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 3.1 %

NFLX stock opened at $918.00 on Monday. The company’s 50 day simple moving average is $951.04 and its 200-day simple moving average is $849.90. The firm has a market capitalization of $392.68 billion, a PE ratio of 46.29, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the business earned $2.11 earnings per share. Netflix’s revenue was up 16.0% compared to the same quarter last year. Equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NFLX shares. Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and upped their target price for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their target price for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their target price on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Citigroup upped their target price on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,014.26.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,624,746.55. This trade represents a 41.34 % 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 this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. This represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is owned by insiders.

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.