Western Wealth Management LLC Has $4.73 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Western Wealth Management LLC increased its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 10.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,074 shares of the Internet television network's stock after acquiring an additional 461 shares during the period. Western Wealth Management LLC's holdings in Netflix were worth $4,732,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NFLX. Vanguard Group Inc. lifted its holdings in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the period. FMR LLC raised its position in shares of Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after buying an additional 375,234 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after acquiring an additional 175,596 shares during the period. GAMMA Investing LLC lifted its stake in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares during the period. Finally, Norges Bank bought a new position in shares of Netflix in the fourth quarter valued at approximately $5,019,087,000. 80.93% of the stock is currently owned by institutional investors.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 32,515 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the sale, the director now directly owns 79,040 shares of the company's stock, valued at $87,099,708.80. This trade represents a 29.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 1,090 shares of Netflix stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,660 shares of company stock valued at $209,802,025. 1.37% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. FBN Securities assumed coverage on Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price objective on the stock. 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 report on Friday, May 30th. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,200.00 target price (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Finally, Jefferies Financial Group lifted their target price on Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,172.73.

Netflix Stock Up 2.5%

Shares of NASDAQ NFLX traded up $31.42 during mid-day trading on Thursday, reaching $1,306.67. The company had a trading volume of 2,601,963 shares, compared to its average volume of 3,738,503. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $556.08 billion, a price-to-earnings ratio of 61.75, a PEG ratio of 2.47 and a beta of 1.59. The stock has a fifty day moving average of $1,169.57 and a two-hundred day moving average of $1,018.04. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,307.49.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same quarter in the prior year, the business earned $8.28 EPS. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current 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.