Cassady Schiller Wealth Management LLC Boosts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Cassady Schiller Wealth Management LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 19,863.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,390 shares of the Internet television network’s stock after buying an additional 5,363 shares during the period. Netflix accounts for 1.3% of Cassady Schiller Wealth Management LLC’s portfolio, making the stock its 17th largest position. Cassady Schiller Wealth Management LLC’s holdings in Netflix were worth $2,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Jennison Associates LLC grew its holdings in shares of Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after buying an additional 1,573,978 shares during the last quarter. Norges Bank purchased a new stake in Netflix in the fourth quarter worth approximately $2,558,598,000. Northern Trust Corp boosted its holdings in Netflix by 2.1% in the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after purchasing an additional 96,938 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Netflix by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after purchasing an additional 78,298 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Netflix by 5.3% in the third quarter. Clearbridge Investments LLC now owns 2,783,694 shares of the Internet television network’s stock worth $1,051,123,000 after purchasing an additional 139,165 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Stock Down 1.3 %

Shares of NASDAQ NFLX traded down $8.13 during trading hours on Thursday, hitting $632.34. 1,274,989 shares of the stock were exchanged, compared to its average volume of 4,242,194. The company has a market cap of $272.54 billion, a PE ratio of 44.20, a PEG ratio of 1.41 and a beta of 1.23. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $650.88. 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 firm has a fifty day moving average price of $606.33 and a 200-day moving average price of $546.83.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on NFLX shares. TD Cowen raised their target price on shares of Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a report on Monday, April 8th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a report on Monday, February 26th. The Goldman Sachs Group raised their price objective on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Wells Fargo & Company lifted their price objective on shares of Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Citigroup lifted their price objective on shares of Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $630.53.

Insider Buying and Selling

In related news, 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 transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, 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 transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 3,673 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 transaction of $2,203,800.00. 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. Insiders own 1.76% of the company’s stock.

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.