Westpac Banking Corp Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Westpac Banking Corp raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 19.9% during the second quarter, Holdings Channel.com reports. The firm owned 91,283 shares of the Internet television network’s stock after purchasing an additional 15,162 shares during the quarter. Westpac Banking Corp’s holdings in Netflix were worth $33,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NFLX. Nelson Roberts Investment Advisors LLC raised its stake in shares of Netflix by 600.0% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 84 shares of the Internet television network’s stock worth $31,000 after purchasing an additional 72 shares during the period. TCG Advisors LP purchased a new stake in shares of Netflix during the first quarter valued at $36,000. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Netflix during the first quarter valued at $44,000. SevenBridge Financial Group LLC boosted its position in shares of Netflix by 66.7% during the second quarter. SevenBridge Financial Group LLC now owns 125 shares of the Internet television network’s stock valued at $46,000 after buying an additional 50 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its position in shares of Netflix by 182.0% during the first quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock valued at $50,000 after buying an additional 91 shares during the last quarter. 76.94% of the stock is currently owned by institutional investors.

Several equities research analysts recently commented on NFLX shares. Goldman Sachs Group dropped their price objective on Netflix from $460.00 to $420.00 in a research report on Thursday, July 18th. Nomura dropped their price objective on Netflix from $320.00 to $310.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Loop Capital raised Netflix from a “hold” rating to a “buy” rating and raised their target price for the stock from $395.00 to $425.00 in a research report on Monday, June 3rd. Wedbush raised their target price on Netflix from $183.00 to $188.00 and gave the stock an “underperform” rating in a research report on Thursday, July 18th. Finally, Deutsche Bank raised their target price on Netflix to $371.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $390.47.

NFLX traded up $1.01 on Tuesday, hitting $311.84. 257,094 shares of the company’s stock traded hands, compared to its average volume of 10,096,077. The firm has a 50 day simple moving average of $344.47. The company has a market capitalization of $135.26 billion, a price-to-earnings ratio of 116.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. Netflix, Inc. has a one year low of $231.23 and a one year high of $386.80. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.06.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. The business had revenue of $4.92 billion during the quarter, compared to analysts’ expectations of $4.93 billion. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. Equities analysts predict that Netflix, Inc. will post 3.28 EPS for the current fiscal year.

In other Netflix news, CEO Reed Hastings sold 51,898 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $372.89, for a total transaction of $19,352,245.22. Following the completion of the transaction, the chief executive officer now owns 51,898 shares in the company, valued at approximately $19,352,245.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bradford L. Smith purchased 6,499 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $308.49 per share, with a total value of $2,004,876.51. Following the acquisition, the director now directly owns 799 shares in the company, valued at $246,483.51. The disclosure for this purchase can be found here. Insiders have sold a total of 165,862 shares of company stock valued at $56,966,404 in the last 90 days. 3.72% of the stock is currently owned by company insiders.

Netflix Profile

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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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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