Westpac Banking Corp Has $4,924,000 Stake in Netflix Inc. (NFLX)
Westpac Banking Corp raised its position in Netflix Inc. (NASDAQ:NFLX) by 72.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,225 shares of the Internet television network’s stock after buying an additional 22,872 shares during the period. Westpac Banking Corp’s holdings in Netflix were worth $4,924,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in NFLX. Adage Capital Partners GP L.L.C. raised its stake in Netflix by 69.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,960 shares of the Internet television network’s stock worth $66,036,000 after buying an additional 265,678 shares in the last quarter. Scopia Capital Management LP raised its stake in Netflix by 55.2% in the first quarter. Scopia Capital Management LP now owns 1,846,398 shares of the Internet television network’s stock worth $188,757,000 after buying an additional 656,585 shares in the last quarter. Natixis acquired a new stake in Netflix during the first quarter worth approximately $47,023,000. Private Capital Management Inc. acquired a new stake in Netflix during the second quarter worth approximately $631,000. Finally, Allen Investment Management LLC raised its stake in Netflix by 2.6% in the first quarter. Allen Investment Management LLC now owns 30,941 shares of the Internet television network’s stock worth $3,163,000 after buying an additional 778 shares in the last quarter. 78.43% of the stock is owned by hedge funds and other institutional investors.
Netflix Inc. (NASDAQ:NFLX) opened at 95.16 on Thursday. The company’s 50-day moving average is $96.62 and its 200 day moving average is $96.19. The stock has a market cap of $40.80 billion, a PE ratio of 297.38 and a beta of 1.71. Netflix Inc. has a 52 week low of $79.95 and a 52 week high of $133.27.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. On average, analysts expect that Netflix Inc. will post $0.29 earnings per share for the current fiscal year.
A number of analysts have commented on NFLX shares. Vetr raised shares of Netflix from a “hold” rating to a “buy” rating and set a $102.90 target price for the company in a report on Tuesday. Cantor Fitzgerald reissued a “buy” rating on shares of Netflix in a report on Friday, September 9th. FBR & Co reissued a “market perform” rating and issued a $90.00 price target on shares of Netflix in a report on Thursday, September 15th. RBC Capital Markets reissued an “outperform” rating and issued a $130.00 price target on shares of Netflix in a report on Monday, August 29th. Finally, Bank of America Corp. reissued a “buy” rating and issued a $146.00 price target on shares of Netflix in a report on Friday, August 26th. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have given a buy rating to the company. Netflix currently has an average rating of “Hold” and an average price target of $110.46.
In other news, Director Richard N. Barton sold 700 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $98.78, for a total value of $69,146.00. Following the transaction, the director now owns 15,562 shares in the company, valued at approximately $1,537,214.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Barton sold 1,400 shares of the stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $95.63, for a total transaction of $133,882.00. Following the completion of the transaction, the director now owns 15,562 shares in the company, valued at approximately $1,488,194.06. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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