Alecta Tjanstepension Omsesidigt Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

Alecta Tjanstepension Omsesidigt lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 13.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 451,200 shares of the Internet television network's stock after selling 73,000 shares during the period. Netflix accounts for 2.4% of Alecta Tjanstepension Omsesidigt's investment portfolio, making the stock its 13th largest position. Alecta Tjanstepension Omsesidigt owned about 0.11% of Netflix worth $420,649,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC grew its holdings in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares in the last quarter. BIP Wealth LLC grew its holdings in Netflix by 23.8% during the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after buying an additional 87 shares in the last quarter. Samalin Investment Counsel LLC grew its holdings in Netflix by 2.3% during the 4th quarter. Samalin Investment Counsel LLC now owns 498 shares of the Internet television network's stock valued at $445,000 after buying an additional 11 shares in the last quarter. Finally, Congress Wealth Management LLC DE grew its holdings in Netflix by 10.3% during the 4th quarter. Congress Wealth Management LLC DE now owns 18,924 shares of the Internet television network's stock valued at $16,868,000 after buying an additional 1,771 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 topic of several recent analyst reports. KeyCorp increased their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Piper Sandler lifted their price objective on Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Benchmark reaffirmed a "hold" rating on shares of Netflix in a report on Monday, April 21st. Phillip Securities upgraded shares of Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. Finally, Morgan Stanley restated an "equal weight" rating on shares of Netflix in a research report on Monday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Insider Transactions at Netflix

In other news, Director Strive Masiyiwa sold 290 shares of Netflix stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total value of $387,596.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Jeffrey William Karbowski sold 620 shares of Netflix stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total value of $797,840.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,563 shares of company stock worth $223,147,201. Corporate insiders own 1.37% of the company's stock.

Netflix Trading Down 1.1%

NFLX traded down $13.30 on Wednesday, hitting $1,176.78. 4,489,211 shares of the company were exchanged, compared to its average volume of 3,777,856. The firm has a fifty day simple moving average of $1,232.59 and a two-hundred day simple moving average of $1,063.17. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.34. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The stock has a market capitalization of $500.05 billion, a PE ratio of 50.14, a price-to-earnings-growth ratio of 2.08 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. Netflix's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $4.88 EPS. Sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.