Berkshire Bank Invests $292,000 in Netflix, Inc. (NASDAQ:NFLX)

Berkshire Bank bought a new stake in Netflix, Inc. (NASDAQ:NFLX) during the fourth quarter, HoldingsChannel.com reports. The fund bought 328 shares of the Internet television network’s stock, valued at approximately $292,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Geode Capital Management LLC raised its stake in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after acquiring an additional 123,029 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Down 0.6 %

NASDAQ NFLX opened at $971.89 on Tuesday. Netflix, Inc. has a one year low of $542.01 and a one year high of $999.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13. The firm has a market cap of $415.44 billion, a P/E ratio of 49.01, a P/E/G ratio of 1.53 and a beta of 1.27. The stock’s 50-day moving average is $895.13 and its 200-day moving average is $768.18.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same period in the prior year, the business earned $2.11 EPS. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. Sell-side analysts anticipate that Netflix, Inc. will post 23.72 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,117 shares of company stock valued at $123,913,691. 1.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NFLX has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and set a $1,150.00 price target (up from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and boosted their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Evercore ISI raised their price target on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Wells Fargo & Company boosted their price objective on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC raised their target price on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.70.

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.