West Branch Capital LLC Grows Stock Position in Netflix, Inc. (NASDAQ:NFLX)

West Branch Capital LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 22.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,501 shares of the Internet television network's stock after purchasing an additional 463 shares during the period. West Branch Capital LLC's holdings in Netflix were worth $2,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. West Michigan Advisors LLC raised its stake in Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock worth $692,000 after acquiring an additional 10 shares in the last quarter. Warwick Investment Management Inc. raised its stake in Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after acquiring an additional 10 shares in the last quarter. MRP Capital Investments LLC raised its stake in Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after acquiring an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC raised its stake in Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after acquiring an additional 10 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. raised its stake in Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after acquiring an additional 10 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on NFLX. Pivotal Research upped their price objective on Netflix from $1,250.00 to $1,350.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Bank of America upped their price objective on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Benchmark reaffirmed a "hold" rating on shares of Netflix in a research note on Monday, April 21st. Rosenblatt Securities upped their price objective on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Finally, Macquarie upped their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,156.73.

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at approximately $3,402,068.52. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,140 shares of company stock valued at $210,271,552. 1.37% of the stock is currently owned by insiders.

Netflix Price Performance

NFLX stock traded down $2.88 during mid-day trading on Friday, reaching $1,212.15. 2,209,188 shares of the company's stock were exchanged, compared to its average volume of 3,761,170. The company has a market cap of $515.86 billion, a price-to-earnings ratio of 61.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The stock's 50 day moving average is $1,120.37 and its 200 day moving average is $1,000.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter last year, the business posted $8.28 earnings per share. On average, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

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.