Westend Capital Management LLC Purchases 82 Shares of Netflix, Inc. (NASDAQ:NFLX)

Westend Capital Management LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,564 shares of the Internet television network’s stock after buying an additional 82 shares during the period. Netflix accounts for 3.3% of Westend Capital Management LLC’s investment portfolio, making the stock its 12th biggest holding. Westend Capital Management LLC’s holdings in Netflix were worth $9,621,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NFLX. Denver PWM LLC purchased a new position in shares of Netflix in the 2nd quarter worth about $25,000. Valued Wealth Advisors LLC grew its stake in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in Netflix during the 4th quarter worth about $32,000. Indiana Trust & Investment Management CO boosted its position in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares during the period. Finally, Proffitt & Goodson Inc. lifted its stake in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Trading Down 1.0 %

NASDAQ NFLX opened at $722.79 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $736.00. The stock has a market cap of $311.52 billion, a P/E ratio of 50.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The stock has a 50 day simple moving average of $686.60 and a two-hundred day simple moving average of $651.33.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.29 earnings per share. On average, analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NFLX shares. Guggenheim upped their price target on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a report on Friday. Loop Capital lifted their price target on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price objective on shares of Netflix in a research report on Friday, July 19th. Sanford C. Bernstein raised their target price on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Finally, Pivotal Research boosted their price target on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $702.79.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the sale, the chairman now directly owns 57 shares in the company, valued at $35,991.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock worth $150,492,460 over the last 90 days. 1.76% of the stock is owned by company insiders.

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.