Westfield Capital Management Co. LP Boosts Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Westfield Capital Management Co. LP increased its stake in Netflix by 6.8%, owning a total of 213,903 shares valued at approximately $199.47 million, which represents 1.0% of its portfolio.
• Several institutional investors significantly raised their holdings in Netflix, with GAMMA Investing LLC increasing its stake by an astounding 109,524.3%, adding over 8.8 million shares.
• Netflix's CFO and director recently sold significant quantities of stock, with insider sales totaling $153.1 million in the past 90 days, indicating reduced personal stakes in the company.

Westfield Capital Management Co. LP grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 213,903 shares of the Internet television network's stock after purchasing an additional 13,557 shares during the period. Netflix makes up 1.0% of Westfield Capital Management Co. LP's investment portfolio, making the stock its 21st largest holding. Westfield Capital Management Co. LP owned approximately 0.05% of Netflix worth $199,471,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Resurgent Financial Advisors LLC boosted its stake in Netflix by 234.4% during the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after acquiring an additional 708 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Netflix by 8.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after buying an additional 110,432 shares in the last quarter. PharVision Advisers LLC bought a new position in shares of Netflix in the fourth quarter worth approximately $873,000. New England Research & Management Inc. lifted its stake in shares of Netflix by 148.5% in the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock worth $1,979,000 after buying an additional 1,268 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Netflix by 6.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock worth $50,952,000 after buying an additional 3,137 shares in the last quarter. Institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on NFLX shares. Jefferies Financial Group set a $1,500.00 target price on shares of Netflix and gave the stock a "buy" rating in a research note on Friday, July 18th. Moffett Nathanson reiterated a "buy" rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Guggenheim reiterated a "buy" rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Finally, Robert W. Baird upped their target price on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,297.66.

Insider Buying and Selling at Netflix

In other news, Director Reed Hastings sold 26,933 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the sale, the director owned 394 shares of the company's stock, valued at approximately $477,394.04. This represents a 98.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director directly owned 63,040 shares in the company, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,483 shares of company stock worth $179,492,976 over the last three months. 1.37% of the stock is owned by company insiders.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $11.57 during midday trading on Tuesday, reaching $1,159.42. 762,275 shares of the company were exchanged, compared to its average volume of 4,233,147. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The business's fifty day moving average is $1,234.03 and its two-hundred day moving average is $1,087.86. Netflix, Inc. has a one year low of $600.62 and a one year high of $1,341.15. The stock has a market cap of $492.67 billion, a PE ratio of 49.41, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter last year, the business earned $4.88 earnings per share. Netflix's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, analysts predict 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.