Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,471 shares of the Internet television network’s stock after selling 394 shares during the period. Netflix makes up 0.6% of Kentucky Retirement Systems’ portfolio, making the stock its 23rd biggest position. Kentucky Retirement Systems’ holdings in Netflix were worth $21,914,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Obermeyer Wood Investment Counsel Lllp lifted its stake in Netflix by 2.8% during the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after buying an additional 17 shares in the last quarter. Private Portfolio Partners LLC grew its holdings in shares of Netflix by 1.7% during the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after acquiring an additional 17 shares in the last quarter. FAS Wealth Partners Inc. grew its holdings in shares of Netflix by 1.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock valued at $786,000 after acquiring an additional 17 shares in the last quarter. Founders Financial Alliance LLC increased its stake in shares of Netflix by 2.4% in the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after acquiring an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Netflix by 4.6% during the first quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. China Renaissance initiated coverage on Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price on the stock. Benchmark lifted their target price on shares of Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. increased their price target on shares of Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. The Goldman Sachs Group lifted their price objective on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Argus increased their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $685.29.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. In the last three months, insiders sold 196,798 shares of company stock valued at $129,552,672. 1.76% of the stock is currently owned by insiders.

Netflix Price Performance

NASDAQ:NFLX opened at $690.47 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $297.59 billion, a PE ratio of 47.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $711.33. The company’s 50-day moving average price is $660.90 and its two-hundred day moving average price is $639.51.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same period in the prior year, the company earned $3.29 EPS. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.