Washington Trust Bank Purchases New Shares in Netflix, Inc. (NASDAQ:NFLX)

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

A number of other institutional investors have also added to or reduced their stakes in NFLX. Brighton Jones LLC boosted its holdings in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after buying an additional 257 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after buying an additional 144 shares during the period. BIP Wealth LLC boosted its holdings in shares of Netflix by 23.8% during the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after buying an additional 87 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Netflix by 39.1% during the 4th quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network's stock worth $1,926,000 after buying an additional 607 shares during the period. Finally, Lifeworks Advisors LLC bought a new stake in shares of Netflix during the 4th quarter worth about $224,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on NFLX. Oppenheimer boosted their price objective on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Bank of America boosted their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. Evercore ISI restated an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Rosenblatt Securities raised their price objective on Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. Finally, Pivotal Research raised their price objective on Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,185.61.

Insider Buying and Selling at Netflix

In other news, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the transaction, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,179,614.58. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 over the last three months. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Up 0.1%

NASDAQ:NFLX traded up $1.68 during trading hours on Wednesday, reaching $1,276.99. The company had a trading volume of 565,173 shares, compared to its average volume of 4,256,197. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm has a market cap of $543.45 billion, a price-to-earnings ratio of 60.35, a P/E/G ratio of 2.34 and a beta of 1.59. The business's 50-day simple moving average is $1,214.45 and its two-hundred day simple moving average is $1,042.85. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period last year, the company posted $8.28 earnings per share. On average, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix Company 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.