Westover Capital Advisors LLC Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Westover Capital Advisors LLC increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,946 shares of the Internet television network’s stock after acquiring an additional 476 shares during the quarter. Netflix comprises about 1.6% of Westover Capital Advisors LLC’s portfolio, making the stock its 15th largest holding. Westover Capital Advisors LLC’s holdings in Netflix were worth $4,843,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Authentikos Wealth Advisory LLC bought a new stake in shares of Netflix in the 3rd quarter worth about $25,000. Spartan Planning & Wealth Management purchased a new stake in Netflix during the third quarter valued at approximately $26,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of Netflix by 89.7% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network’s stock valued at $36,000 after purchasing an additional 35 shares during the last quarter. Carmel Capital Partners LLC boosted its holdings in shares of Netflix by 290.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 58 shares during the period. Finally, Pacifica Partners Inc. bought a new position in shares of Netflix during the 4th quarter valued at approximately $41,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Up 2.4 %

NFLX stock traded up $13.31 during midday trading on Thursday, hitting $565.02. 1,739,226 shares of the company’s stock were exchanged, compared to its average volume of 4,433,278. Netflix, Inc. has a 1-year low of $315.85 and a 1-year high of $639.00. The business has a 50-day simple moving average of $603.12 and a two-hundred day simple moving average of $524.53. The stock has a market capitalization of $243.47 billion, a PE ratio of 38.82, a P/E/G ratio of 1.35 and a beta of 1.23. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the previous year, the firm earned $2.88 EPS. Netflix’s revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts predict that Netflix, Inc. will post 18.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several recent analyst reports. Guggenheim lifted their price objective on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $585.00 price target (down from $720.00) on shares of Netflix in a research note on Friday, April 19th. Robert W. Baird increased their price objective on shares of Netflix from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Needham & Company LLC upgraded Netflix from a “hold” rating to a “buy” rating and set a $700.00 target price for the company in a research report on Friday, April 19th. Finally, Sanford C. Bernstein increased their price target on Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $631.15.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $566.35, for a total value of $723,795.30. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,413,521.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,839 shares of company stock worth $77,788,745. Insiders own 1.76% of the company’s stock.

Netflix 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.