Kentucky Retirement Systems Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

Kentucky Retirement Systems reduced its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 0.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,225 shares of the Internet television network's stock after selling 267 shares during the period. Netflix makes up about 0.8% of Kentucky Retirement Systems' investment portfolio, making the stock its 20th biggest position. Kentucky Retirement Systems' holdings in Netflix were worth $27,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Guyasuta Investment Advisors Inc. lifted its position in Netflix by 1.3% during the first quarter. Guyasuta Investment Advisors Inc. now owns 3,638 shares of the Internet television network's stock valued at $3,393,000 after purchasing an additional 46 shares in the last quarter. Crews Bank & Trust lifted its position in Netflix by 15.0% during the first quarter. Crews Bank & Trust now owns 153 shares of the Internet television network's stock valued at $143,000 after purchasing an additional 20 shares in the last quarter. Buck Wealth Strategies LLC lifted its position in Netflix by 24.8% during the first quarter. Buck Wealth Strategies LLC now owns 625 shares of the Internet television network's stock valued at $583,000 after purchasing an additional 124 shares in the last quarter. Shum Financial Group Inc. lifted its position in Netflix by 2.1% during the first quarter. Shum Financial Group Inc. now owns 905 shares of the Internet television network's stock valued at $844,000 after purchasing an additional 19 shares in the last quarter. Finally, Heartland Bank & Trust Co lifted its position in Netflix by 18.3% during the first quarter. Heartland Bank & Trust Co now owns 2,021 shares of the Internet television network's stock valued at $1,885,000 after purchasing an additional 313 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 2,027 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $1,141.51, for a total value of $2,313,840.77. Following the sale, the chief executive officer now directly owns 12,781 shares in the company, valued at $14,589,639.31. The trade was a 13.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,140 shares of company stock valued at $210,271,552 over the last ninety days. 1.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NFLX shares. Guggenheim reiterated a "buy" rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Rosenblatt Securities lifted their target price on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Bank of America lifted their target price on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Piper Sandler set a $1,150.00 price objective on Netflix and gave the company an "overweight" rating in a research report on Monday, April 21st. Finally, Robert W. Baird boosted their price objective on Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,172.73.

Netflix Trading Up 0.8%

Shares of NASDAQ NFLX opened at $1,231.49 on Friday. The business's 50 day moving average is $1,150.80 and its two-hundred day moving average is $1,011.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.81. The stock has a market capitalization of $524.09 billion, a P/E ratio of 58.20, a PEG ratio of 2.38 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the previous year, the firm posted $8.28 earnings per share. As a group, research analysts expect that Netflix, Inc. will post 24.58 EPS 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.

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