Berkshire Bank Makes New $292,000 Investment in Netflix, Inc. (NASDAQ:NFLX)

Berkshire Bank acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 328 shares of the Internet television network’s stock, valued at approximately $292,000.

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

Netflix Trading Down 0.6 %

Shares of NFLX stock opened at $971.89 on Tuesday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $999.00. The company has a market cap of $415.44 billion, a PE ratio of 49.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $895.13 and its two-hundred day moving average is $768.18.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.11 EPS. Equities analysts predict that Netflix, Inc. will post 23.72 EPS for the current year.

Insider Buying and Selling

In related news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total transaction of $334,319.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,117 shares of company stock valued at $123,913,691. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and raised their price objective for the company from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. BMO Capital Markets reiterated an “outperform” rating and set a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Needham & Company LLC upped their target price on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.