State of Tennessee Department of Treasury Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

State of Tennessee Department of Treasury decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 156,465 shares of the Internet television network’s stock after selling 15,466 shares during the period. State of Tennessee Department of Treasury’s holdings in Netflix were worth $139,460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nordea Investment Management AB grew its position in Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after acquiring an additional 156,958 shares in the last quarter. First National Trust Co increased its position in shares of Netflix by 1.0% during the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after purchasing an additional 12 shares during the last quarter. Haven Private LLC purchased a new position in shares of Netflix during the 4th quarter valued at about $733,000. Sigma Planning Corp lifted its position in Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after buying an additional 386 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after buying an additional 1,684 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research reports. Pivotal Research reaffirmed a “buy” rating on shares of Netflix in a research note on Thursday. Piper Sandler assumed coverage on Netflix in a report on Thursday. They issued an “overweight” rating and a $1,100.00 price objective on the stock. Argus raised their price target on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,036.38.

Netflix Stock Performance

Shares of Netflix stock opened at $973.03 on Monday. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The firm’s 50-day moving average is $954.87 and its 200 day moving average is $894.38. The stock has a market cap of $416.22 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same quarter in the prior year, the company posted $8.28 earnings per share. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now owns 394 shares in the company, valued at $362,933.10. This represents a 98.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 617 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total transaction of $604,481.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 274,312 shares of company stock worth $267,919,297. 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.