Washington Trust Bank Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Washington Trust Bank purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 324 shares of the Internet television network's stock, valued at approximately $302,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fullcircle Wealth LLC grew its position in Netflix by 2.5% in the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after purchasing an additional 9 shares in the last quarter. Warwick Investment Management Inc. increased its stake in shares of Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after purchasing an additional 10 shares during the last quarter. MRP Capital Investments LLC increased its stake in shares of Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after purchasing an additional 10 shares during the last quarter. Bedell Frazier Investment Counselling LLC increased its stake in shares of Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after purchasing an additional 10 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. increased its stake in shares of Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after purchasing an additional 10 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

NFLX traded down $5.48 during trading on Friday, reaching $1,245.11. The stock had a trading volume of 3,948,915 shares, compared to its average volume of 3,766,443. The stock has a market cap of $529.88 billion, a PE ratio of 58.84, a PEG ratio of 2.27 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The business has a 50-day moving average of $1,221.70 and a 200-day moving average of $1,049.04.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter in the prior year, the firm earned $8.28 earnings per share. As a group, equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Director Reed Hastings sold 26,977 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the sale, the director directly owned 394 shares in the company, valued at $446,421.70. This represents a 98.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 32,515 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the sale, the director owned 79,040 shares of the company's stock, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,723 shares of company stock worth $223,307,201 in the last three months. Insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NFLX shares. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. Macquarie increased their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Loop Capital reiterated a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Finally, Morgan Stanley increased their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Netflix currently has an average rating of "Moderate Buy" and a consensus target price of $1,214.52.

Netflix Profile

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.