Netflix, Inc. (NASDAQ:NFLX) is Western Financial Corp CA’s 4th Largest Position

Western Financial Corp CA cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.2% in the 1st quarter, HoldingsChannel reports. The fund owned 5,259 shares of the Internet television network’s stock after selling 287 shares during the quarter. Netflix accounts for 2.8% of Western Financial Corp CA’s portfolio, making the stock its 4th biggest position. Western Financial Corp CA’s holdings in Netflix were worth $4,904,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. West Michigan Advisors LLC lifted its holdings in Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after buying an additional 10 shares during the period. Warwick Investment Management Inc. lifted its holdings in Netflix by 3.5% in the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after buying an additional 10 shares during the period. MRP Capital Investments LLC lifted its holdings in Netflix by 1.0% in the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock worth $938,000 after buying an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC lifted its holdings in Netflix by 2.2% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after buying an additional 10 shares during the period. Finally, Mission Creek Capital Partners Inc. lifted its holdings in Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock worth $3,410,000 after buying an additional 10 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the subject of several research reports. Moffett Nathanson reissued a “buy” rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Bank of America increased their target price on Netflix from $1,175.00 to $1,490.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Canaccord Genuity Group increased their target price on Netflix from $1,200.00 to $1,380.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Wedbush reissued an “outperform” rating and issued a $1,200.00 target price on shares of Netflix in a research report on Monday, May 5th. Finally, Guggenheim reissued a “buy” rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,172.73.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 31,750 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director now directly owns 63,040 shares in the company, valued at $78,948,144. This trade represents a 33.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the completion of the transaction, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,402,068.52. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,660 shares of company stock worth $209,802,025 in the last ninety days. Insiders own 1.37% of the company’s stock.

Netflix Stock Performance

Shares of NFLX opened at $1,275.25 on Thursday. The business’s fifty day simple moving average is $1,169.57 and its two-hundred day simple moving average is $1,018.04. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,298.00. The company has a market cap of $542.71 billion, a price-to-earnings ratio of 60.27, a P/E/G ratio of 2.47 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period last year, the business posted $8.28 EPS. Research analysts anticipate that Netflix, Inc. will post 24.58 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.