Corton Capital Inc. Buys Shares of 307 Netflix, Inc. (NASDAQ:NFLX)

Corton Capital Inc. purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 307 shares of the Internet television network’s stock, valued at approximately $274,000.

A number of other institutional investors have also modified their holdings of NFLX. Principal Financial Group Inc. boosted its stake in shares of Netflix by 13.3% in the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after purchasing an additional 198,148 shares during the period. Stonehearth Capital Management LLC purchased a new position in Netflix in the 4th quarter valued at approximately $252,000. Spartan Planning & Wealth Management acquired a new position in shares of Netflix in the fourth quarter worth $645,000. Bath Savings Trust Co increased its position in shares of Netflix by 17.6% during the fourth quarter. Bath Savings Trust Co now owns 400 shares of the Internet television network’s stock worth $357,000 after acquiring an additional 60 shares during the period. Finally, First County Bank CT acquired a new stake in shares of Netflix in the fourth quarter valued at $233,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 0.3 %

Shares of NASDAQ:NFLX opened at $1,137.69 on Wednesday. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,159.44. The stock’s 50-day moving average price is $974.71 and its two-hundred day moving average price is $925.04. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $484.17 billion, a price-to-earnings ratio of 57.37, a PEG ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same period last year, the company earned $8.28 earnings per share. On average, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In related news, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 4,434 shares of Netflix stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,015.00, for a total transaction of $4,500,510.00. Following the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at approximately $13,144,250. This trade represents a 25.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,451 shares of company stock valued at $142,194,072 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NFLX shares. Moffett Nathanson reiterated a “buy” rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Phillip Securities raised Netflix from a “moderate sell” rating to a “hold” rating in a report on Monday, April 21st. The Goldman Sachs Group increased their price target on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Piper Sandler set a $1,150.00 target price on Netflix and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, KeyCorp boosted their price target on shares of Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,084.91.

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.