State of Tennessee Department of Treasury Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

State of Tennessee Department of Treasury cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nordea Investment Management AB grew its stake in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after acquiring an additional 156,958 shares during the period. First National Trust Co boosted its position in shares of Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after purchasing an additional 12 shares during the period. Haven Private LLC purchased a new stake in shares of Netflix in the fourth quarter worth $733,000. Sigma Planning Corp raised its position in shares of Netflix by 7.4% during the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after purchasing an additional 386 shares during the period. Finally, M&T Bank Corp lifted its stake in shares of Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In other news, CEO Gregory K. Peters sold 102,228 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. The trade was a 88.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 274,312 shares of company stock worth $267,919,297. Company insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NFLX shares. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $715.00 to $900.00 in a research note on Wednesday, January 22nd. StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. KeyCorp dropped their target price on shares of Netflix from $1,100.00 to $1,000.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, Loop Capital reaffirmed a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus price target of $1,036.38.

Netflix Price Performance

Netflix stock opened at $973.03 on Monday. The stock has a market cap of $416.22 billion, a price-to-earnings ratio of 49.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. The firm has a 50-day moving average of $954.87 and a two-hundred day moving average of $894.38. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. 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 announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the prior year, the firm earned $8.28 earnings per share. On average, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

About Netflix

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.