Kentucky Retirement Systems Decreases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Kentucky Retirement Systems lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,492 shares of the Internet television network’s stock after selling 406 shares during the period. Netflix comprises 0.8% of Kentucky Retirement Systems’ portfolio, making the stock its 21st largest holding. Kentucky Retirement Systems’ holdings in Netflix were worth $26,287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NFLX. International Assets Investment Management LLC lifted its holdings in shares of Netflix by 116,620.0% in the third 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. Assenagon Asset Management S.A. lifted its holdings in shares of 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 valued at $750,713,000 after purchasing an additional 642,920 shares in the last quarter. State Street Corp lifted its holdings in shares of Netflix by 2.6% in the third 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. Strategic Financial Concepts LLC lifted its holdings in shares of Netflix by 112,896.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after purchasing an additional 381,590 shares in the last quarter. Finally, Jennison Associates LLC lifted 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 valued at $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NFLX opened at $1,024.54 on Friday. The company has a fifty day simple moving average of $938.86 and a 200 day simple moving average of $815.63. The firm has a market cap of $438.26 billion, a price-to-earnings ratio of 51.67, a PEG ratio of 2.16 and a beta of 1.27. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

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

Insider Activity at Netflix

In other Netflix news, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 41,121 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now owns 31,610 shares in the company, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 303,220 shares of company stock valued at $289,856,164. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several recent analyst reports. UBS Group upped their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Guggenheim upped their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Argus upped their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Piper Sandler reissued an “overweight” rating and set a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Wedbush reissued an “outperform” rating and set a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average price target of $1,021.70.

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.