Kentucky Retirement Systems Insurance Trust Fund Has $1.87 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 83.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,098 shares of the Internet television network’s stock after selling 10,608 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Netflix were worth $1,870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC increased its position in Netflix by 116,620.0% during 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 last quarter. Assenagon Asset Management S.A. grew its position 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 during the last quarter. State Street Corp grew its position 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 during the last quarter. Strategic Financial Concepts LLC grew its position 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 during the last quarter. Finally, Jennison Associates LLC grew its position 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 during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NFLX. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. KeyCorp boosted their price target on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, UBS Group boosted their price target on Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Performance

Shares of Netflix stock opened at $1,035.85 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $934.75 and a two-hundred day moving average price of $812.56. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company has a market cap of $443.10 billion, a P/E ratio of 52.24, a PEG ratio of 2.19 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the business posted $2.11 EPS. The business’s revenue was up 16.0% compared to the same quarter last year. As a group, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ann Mather sold 2,682 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 41,121 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 303,220 shares of company stock worth $289,856,164. Company insiders own 1.76% of the company’s stock.

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.