West Branch Capital LLC Raises Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

West Branch Capital LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 30.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,389 shares of the Internet television network’s stock after buying an additional 323 shares during the quarter. West Branch Capital LLC’s holdings in Netflix were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RFG Advisory LLC raised its stake in shares of Netflix by 24.7% during the first quarter. RFG Advisory LLC now owns 2,292 shares of the Internet television network’s stock worth $1,392,000 after purchasing an additional 454 shares during the last quarter. Congress Asset Management Co. MA raised its stake in shares of Netflix by 6.6% during the first quarter. Congress Asset Management Co. MA now owns 18,885 shares of the Internet television network’s stock worth $11,469,000 after purchasing an additional 1,174 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID purchased a new stake in shares of Netflix during the first quarter worth approximately $243,000. Salem Investment Counselors Inc. raised its stake in shares of Netflix by 7.3% during the first quarter. Salem Investment Counselors Inc. now owns 2,502 shares of the Internet television network’s stock worth $1,520,000 after purchasing an additional 170 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Netflix during the first quarter worth approximately $371,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NFLX shares. BMO Capital Markets restated an “outperform” rating and set a $825.00 price target (up previously from $770.00) on shares of Netflix in a research note on Friday. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Jefferies Financial Group increased their price objective on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. Guggenheim increased their price objective on Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Loop Capital increased their price objective on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $747.70.

Netflix Trading Up 11.1 %

NFLX traded up $76.24 during midday trading on Friday, hitting $763.89. The company’s stock had a trading volume of 15,974,119 shares, compared to its average volume of 3,723,201. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $329.24 billion, a P/E ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26. The firm has a 50-day moving average price of $696.38 and a two-hundred day moving average price of $654.94. Netflix, Inc. has a 52-week low of $392.26 and a 52-week high of $766.28.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $3.29 EPS. On average, research analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity

In other news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock valued at $150,492,460 in the last three months. Corporate insiders own 1.76% of the company’s stock.

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.