Cigna Investments Inc. New lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,297 shares of the Internet television network’s stock after buying an additional 686 shares during the quarter. Netflix makes up 0.7% of Cigna Investments Inc. New’s holdings, making the stock its 24th largest position. Cigna Investments Inc. New’s holdings in Netflix were worth $5,368,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Great Diamond Partners LLC acquired a new position in Netflix in the 4th quarter worth about $29,000. AlphaCore Capital LLC acquired a new position in Netflix in the 1st quarter worth about $29,000. Archer Investment Corp acquired a new position in Netflix in the 4th quarter worth about $30,000. Lucia Wealth Services LLC raised its holdings in Netflix by 325.0% in the 1st quarter. Lucia Wealth Services LLC now owns 85 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 65 shares during the period. Finally, Duncker Streett & Co. Inc. acquired a new position in Netflix in the 4th quarter worth about $34,000. 81.74% of the stock is owned by institutional investors.
NFLX has been the subject of a number of analyst reports. Wedbush upped their price target on Netflix from $194.00 to $198.00 and gave the stock an “underperform” rating in a report on Wednesday, April 22nd. Robert W. Baird raised Netflix from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $350.00 to $415.00 in a report on Monday, March 23rd. Benchmark increased their target price on Netflix from $327.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Rosenblatt Securities reissued a “neutral” rating and set a $370.00 target price (up previously from $275.00) on shares of Netflix in a report on Thursday, April 16th. Finally, Imperial Capital increased their target price on Netflix from $447.00 to $485.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. Netflix currently has a consensus rating of “Buy” and an average price target of $432.95.
In other news, CEO Reed Hastings sold 53,193 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $449.23, for a total transaction of $23,895,891.39. Following the completion of the transaction, the chief executive officer now directly owns 53,193 shares in the company, valued at $23,895,891.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gregory K. Peters sold 5,047 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $425.00, for a total value of $2,144,975.00. Following the transaction, the insider now owns 18,137 shares of the company’s stock, valued at $7,708,225. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,961 shares of company stock valued at $75,572,227. Company insiders own 4.29% of the company’s stock.
Netflix stock traded down $6.93 during mid-day trading on Friday, hitting $429.32. The company’s stock had a trading volume of 5,399,413 shares, compared to its average volume of 7,155,619. Netflix, Inc. has a 1 year low of $252.28 and a 1 year high of $458.97. The stock’s fifty day moving average is $415.53 and its two-hundred day moving average is $355.27. The firm has a market capitalization of $191.86 billion, a PE ratio of 86.91, a price-to-earnings-growth ratio of 2.26 and a beta of 0.97. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.69.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, April 21st. The Internet television network reported $1.57 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.07). Netflix had a return on equity of 30.83% and a net margin of 10.43%. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.75 billion. During the same quarter in the prior year, the business earned $0.76 earnings per share. The company’s quarterly revenue was up 27.6% on a year-over-year basis. On average, equities analysts expect that Netflix, Inc. will post 6.42 EPS for the current fiscal year.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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