Cypress Capital Group Has $1.72 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Cypress Capital Group reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,422 shares of the Internet television network’s stock after selling 26 shares during the quarter. Cypress Capital Group’s holdings in Netflix were worth $1,718,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Landscape Capital Management L.L.C. bought a new position in Netflix in the third quarter valued at approximately $2,233,000. Overbrook Management Corp acquired a new stake in Netflix in the third quarter valued at approximately $214,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Netflix by 5.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 263,310 shares of the Internet television network’s stock worth $186,758,000 after buying an additional 13,022 shares during the last quarter. King Luther Capital Management Corp increased its holdings in shares of Netflix by 32.4% during the third quarter. King Luther Capital Management Corp now owns 96,774 shares of the Internet television network’s stock worth $68,639,000 after buying an additional 23,656 shares in the last quarter. Finally, Cornerstone Advisors LLC boosted its holdings in shares of Netflix by 17.8% during the 3rd quarter. Cornerstone Advisors LLC now owns 25,200 shares of the Internet television network’s stock valued at $17,874,000 after acquiring an additional 3,800 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NFLX. Loop Capital increased their target price on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Needham & Company LLC boosted their target price on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. China Renaissance assumed coverage on shares of Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. Finally, Bank of America boosted their target price on shares of Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $758.76.

Netflix Price Performance

Shares of Netflix stock opened at $883.85 on Thursday. The firm has a market capitalization of $377.81 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 12 month low of $445.73 and a 12 month high of $890.60. The business’s 50-day moving average price is $747.20 and its 200-day moving average price is $686.80.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Sell-side analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $60,023.60. This represents a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now owns 95,040 shares in the company, valued at $65,299,132.80. This trade represents a 31.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is currently owned by company insiders.

Netflix Company 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.