Westfield Capital Management Co. LP Invests $222.87 Million in Netflix, Inc. (NASDAQ:NFLX)

Westfield Capital Management Co. LP acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the third quarter, HoldingsChannel reports. The fund acquired 314,226 shares of the Internet television network’s stock, valued at approximately $222,871,000. Netflix makes up approximately 1.0% of Westfield Capital Management Co. LP’s investment portfolio, making the stock its 15th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings 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 worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in Netflix during the first quarter valued at about $372,293,000. Swedbank AB bought a new position in shares of Netflix during the first quarter valued at about $216,538,000. Finally, Jennison Associates LLC increased its holdings in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Benchmark restated a “sell” rating and set a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. TD Cowen lifted their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Morgan Stanley upped their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Pivotal Research boosted their price objective on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group set a $750.00 target price on Netflix in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $764.82.

Netflix Stock Performance

Shares of Netflix stock opened at $897.79 on Friday. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $908.00. The firm’s 50-day moving average is $755.40 and its 200 day moving average is $690.93. The stock has a market cap of $383.77 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 1.73 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Sell-side analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. This represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is owned by corporate insiders.

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.