Kentucky Retirement Systems Insurance Trust Fund Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,706 shares of the Internet television network’s stock after selling 1,192 shares during the quarter. Netflix makes up 0.6% of Kentucky Retirement Systems Insurance Trust Fund’s portfolio, making the stock its 23rd largest holding. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Netflix were worth $9,012,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC raised its stake 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 worth $4,080,522,000 after buying an additional 5,748,200 shares during the period. GQG Partners LLC purchased a new stake in Netflix in the 1st quarter worth approximately $1,450,476,000. Assenagon Asset Management S.A. raised its stake in Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares during the period. Jericho Capital Asset Management L.P. purchased a new position in Netflix during the first quarter valued at approximately $372,293,000. Finally, Swedbank AB purchased a new position in Netflix during the first quarter valued at approximately $216,538,000. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 1.6 %

Shares of NASDAQ NFLX opened at $823.96 on Friday. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $841.00. The stock has a market capitalization of $352.21 billion, a P/E ratio of 46.63, a price-to-earnings-growth ratio of 1.60 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. The business has a fifty day moving average price of $735.77 and a 200 day moving average price of $679.56.

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

Insiders Place Their Bets

In other news, insider David A. Hyman sold 13,791 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $22,127,000. This trade represents a 30.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 4,644 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $3,250,800.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,163,000. This trade represents a 26.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,084 shares of company stock valued at $146,747,101. 1.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NFLX. Needham & Company LLC upped their price objective on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. UBS Group lifted their price target on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. Wolfe Research reissued an “outperform” rating on shares of Netflix in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their target price on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Wedbush raised their price target on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $748.15.

Netflix Company 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.