Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Westpac Banking Corp

Westpac Banking Corp cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 15.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,831 shares of the Internet television network's stock after selling 3,166 shares during the quarter. Netflix accounts for 1.0% of Westpac Banking Corp's investment portfolio, making the stock its 12th largest position. Westpac Banking Corp's holdings in Netflix were worth $15,002,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. West Michigan Advisors LLC grew its position in shares of Netflix by 1.3% in the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock valued at $692,000 after purchasing an additional 10 shares during the period. Warwick Investment Management Inc. boosted its stake in Netflix by 3.5% in the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after buying an additional 10 shares during the last quarter. MRP Capital Investments LLC grew its holdings in Netflix by 1.0% in the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after buying an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC grew its holdings in Netflix by 2.2% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after buying an additional 10 shares during the period. Finally, Enzi Wealth increased its stake in shares of Netflix by 3.4% during the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network's stock valued at $316,000 after acquiring an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

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Insider Transactions at Netflix

In other Netflix news, Director Jay C. Hoag sold 617 shares of the firm's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares of the company's stock, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 280,676 shares of company stock worth $273,515,672. 1.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research analyst reports. Sanford C. Bernstein raised shares of Netflix from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Robert W. Baird lifted their price target on shares of Netflix from $875.00 to $1,200.00 and gave the company an "outperform" rating in a report on Wednesday, January 22nd. Arete Research upgraded Netflix to a "hold" rating in a report on Thursday, January 23rd. Moffett Nathanson raised Netflix from a "neutral" rating to a "buy" rating and increased their target price for the stock from $850.00 to $1,100.00 in a research report on Monday, March 17th. Finally, Guggenheim reissued a "buy" rating and set a $1,100.00 price target on shares of Netflix in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,023.74.

Netflix Stock Down 2.0 %

NFLX stock traded down $18.47 during mid-day trading on Thursday, hitting $917.05. 5,855,995 shares of the company were exchanged, compared to its average volume of 3,609,504. The firm has a fifty day simple moving average of $972.68 and a 200 day simple moving average of $873.52. The company has a market capitalization of $392.27 billion, a PE ratio of 46.25, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts' consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the firm earned $2.11 earnings per share. The company's revenue for the quarter was up 16.0% compared to the same quarter last year. On average, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.