Westpac Banking Corp increased its position in Netflix, Inc. (NASDAQ:NFLX) by 1.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 76,121 shares of the Internet television network’s stock after acquiring an additional 986 shares during the period. Westpac Banking Corp’s holdings in Netflix were worth $27,142,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NFLX. Northeast Financial Consultants Inc acquired a new stake in shares of Netflix during the first quarter worth $804,000. Andra AP fonden acquired a new stake in shares of Netflix during the first quarter worth $2,532,000. Williams Jones & Associates LLC raised its position in shares of Netflix by 4.2% during the first quarter. Williams Jones & Associates LLC now owns 1,869 shares of the Internet television network’s stock worth $666,000 after purchasing an additional 76 shares during the period. TCG Advisors LP acquired a new stake in shares of Netflix during the first quarter worth $36,000. Finally, Berkshire Capital Holdings Inc. raised its position in shares of Netflix by 82.6% during the first quarter. Berkshire Capital Holdings Inc. now owns 31,240 shares of the Internet television network’s stock worth $11,139,000 after purchasing an additional 14,130 shares during the period. Institutional investors and hedge funds own 77.05% of the company’s stock.

In related news, CEO Reed Hastings sold 52,458 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $367.25, for a total transaction of $19,265,200.50. Following the completion of the sale, the chief executive officer now owns 52,458 shares in the company, valued at approximately $19,265,200.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 166,838 shares of company stock valued at $60,415,372. 3.72% of the stock is owned by corporate insiders.

A number of equities research analysts have recently issued reports on the company. Pivotal Research reaffirmed a “buy” rating and set a $500.00 target price on shares of Netflix in a research report on Tuesday, April 16th. BMO Capital Markets upped their price target on Netflix from $440.00 to $470.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. Loop Capital raised Netflix from a “hold” rating to a “buy” rating and upped their price target for the company from $395.00 to $425.00 in a research report on Monday, June 3rd. JPMorgan Chase & Co. reissued a “buy” rating and set a $450.00 price target on shares of Netflix in a research report on Wednesday, April 17th. Finally, Wedbush upped their price target on Netflix from $165.00 to $183.00 and gave the company an “underperform” rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $386.03.

Shares of NFLX traded down $5.17 during trading hours on Wednesday, hitting $346.10. 251,283 shares of the company were exchanged, compared to its average volume of 8,400,935. The company has a market cap of $155.13 billion, a PE ratio of 128.80, a price-to-earnings-growth ratio of 3.60 and a beta of 1.30. Netflix, Inc. has a 52 week low of $231.23 and a 52 week high of $423.21. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.61 and a current ratio of 0.61.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.19. The company had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.50 billion. Netflix had a return on equity of 24.75% and a net margin of 7.61%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 EPS. On average, research analysts predict that Netflix, Inc. will post 3.34 earnings per share for the current year.

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Netflix Company 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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