Prudential Financial Inc. Sells 143,903 Shares of Netflix, Inc. (NASDAQ:NFLX)

Prudential Financial Inc. reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 23.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 460,813 shares of the Internet television network’s stock after selling 143,903 shares during the period. Netflix comprises approximately 0.6% of Prudential Financial Inc.’s portfolio, making the stock its 24th biggest holding. Prudential Financial Inc. owned about 0.11% of Netflix worth $410,732,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NFLX. Nordea Investment Management AB boosted its position in 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 buying an additional 156,958 shares during the period. First National Trust Co lifted its position in Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after buying an additional 12 shares during the period. Haven Private LLC bought a new stake in Netflix during the fourth quarter worth about $733,000. Sigma Planning Corp grew its stake in shares of Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after buying an additional 386 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of several analyst reports. Bank of America upped their price objective on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Oppenheimer raised their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Evercore ISI increased their price objective on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Macquarie raised their target price on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Finally, Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and upped their price objective for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,016.78.

Netflix Price Performance

NFLX stock opened at $960.29 on Monday. The stock has a 50-day simple moving average of $959.08 and a 200-day simple moving average of $859.06. The firm has a market cap of $410.77 billion, a P/E ratio of 48.43, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50.

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

Insider Transactions at Netflix

In related news, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the transaction, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $12,700,583. This trade represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is currently owned by company insiders.

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.