West Branch Capital LLC Acquires 649 Shares of Netflix, Inc. (NASDAQ:NFLX)

West Branch Capital LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 46.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,038 shares of the Internet television network’s stock after acquiring an additional 649 shares during the period. West Branch Capital LLC’s holdings in Netflix were worth $1,817,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC grew its position in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC raised its position in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP grew its position in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NFLX. Sanford C. Bernstein increased their target price on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. TD Cowen boosted their price objective on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Benchmark increased their price target on shares of Netflix from $555.00 to $720.00 and gave the company a “sell” rating in a research note on Friday, January 3rd. Needham & Company LLC upped their target price on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $952.30.

Insider Activity

In other Netflix news, CEO Theodore A. Sarandos sold 1,278 shares of Netflix stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total transaction of $980,289.90. Following the transaction, the chief executive officer now owns 2,556 shares of the company’s stock, valued at $1,960,579.80. The trade was a 33.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Insiders have sold 152,198 shares of company stock worth $127,616,898 over the last 90 days. 1.76% of the stock is owned by company insiders.

Netflix Stock Up 1.3 %

NASDAQ NFLX opened at $869.68 on Wednesday. The company has a market capitalization of $371.75 billion, a P/E ratio of 49.22, a PEG ratio of 1.40 and a beta of 1.27. Netflix, Inc. has a 12 month low of $479.90 and a 12 month high of $941.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The company’s 50 day simple moving average is $885.64 and its 200 day simple moving average is $760.81.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10,141,900 billion. During the same period last year, the company posted $2.11 EPS. The company’s revenue was up 16.0% compared to the same quarter last year. Equities research analysts expect that Netflix, Inc. will post 19.76 earnings per share for the current fiscal 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.