Alecta Tjanstepension Omsesidigt Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Alecta Tjanstepension Omsesidigt lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 21.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 524,200 shares of the Internet television network’s stock after selling 146,500 shares during the quarter. Netflix makes up approximately 2.5% of Alecta Tjanstepension Omsesidigt’s portfolio, making the stock its 11th biggest position. Alecta Tjanstepension Omsesidigt’s holdings in Netflix were worth $467,178,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State Street Corp raised 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 acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 123,029 shares during the period. Jennison Associates LLC raised its stake 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 worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Netflix by 0.5% during 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 purchasing an additional 23,702 shares during the period. Finally, Fisher Asset Management LLC grew its position in Netflix by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock valued at $3,178,905,000 after buying an additional 123,987 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on NFLX. Wedbush restated an “outperform” rating and issued a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and issued a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Bank of America boosted their target price on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Macquarie increased their target price on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Evercore ISI lifted their price target on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Performance

NASDAQ:NFLX opened at $990.06 on Thursday. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The firm’s 50 day moving average is $945.07 and its two-hundred day moving average is $827.46. The company has a market cap of $423.51 billion, a P/E ratio of 49.93, a P/E/G ratio of 2.12 and a beta of 1.27. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.11 earnings per share. Analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 4,939 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 685 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,009.57, for a total transaction of $691,555.45. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,726,322.87. This represents a 15.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,220 shares of company stock valued at $289,856,164. 1.76% of the stock is currently 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.