Westpac Banking Corp Has $15 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Westpac Banking Corp decreased its stake in Netflix, Inc. (NASDAQ:NFLX) by 15.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,831 shares of the Internet television network’s stock after selling 3,166 shares during the quarter. Netflix accounts for about 1.0% of Westpac Banking Corp’s investment portfolio, making the stock its 12th largest holding. Westpac Banking Corp’s holdings in Netflix were worth $15,002,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Netflix in the fourth quarter worth approximately $5,019,087,000. Proficio Capital Partners LLC boosted its stake in Netflix by 123,836.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after purchasing an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after purchasing an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after purchasing an additional 743,724 shares during the period. Finally, State Street Corp lifted its holdings in shares of Netflix by 2.6% in the third 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. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NFLX shares. Arete Research raised Netflix to a “hold” rating in a research report on Thursday, January 23rd. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and upped their target price for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. StockNews.com cut shares of Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Pivotal Research upped their price objective on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, UBS Group set a $1,000.00 target price on shares of Netflix in a research note on Monday, March 24th. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,023.74.

Netflix Stock Up 0.8 %

Shares of NFLX stock opened at $935.52 on Thursday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $400.18 billion, a PE ratio of 47.18, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The stock has a 50 day moving average of $974.03 and a 200-day moving average of $873.22.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.11 EPS. On average, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total value of $473,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares of the company’s stock, valued at $362,933.10. This represents a 98.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 280,676 shares of company stock valued at $273,515,672. Insiders own 1.76% of the company’s stock.

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.