Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp has reduced its holdings in Netflix by 6.1%, selling 23,541 shares and owning 364,258 shares, which is about 0.9% of its total portfolio.
• Several other institutional investors have increased their stakes in Netflix, with Massachusetts Financial Services Co. MA boosting its holdings by 42.0% during the first quarter.
• Netflix reported a $7.19 EPS for its last quarter, exceeding expectations and showing a year-over-year revenue increase of 15.9%, bringing in $11.08 billion.

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 364,258 shares of the Internet television network's stock after selling 23,541 shares during the quarter. Netflix comprises approximately 0.9% of Mitsubishi UFJ Trust & Banking Corp's holdings, making the stock its 15th biggest holding. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.09% of Netflix worth $339,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC lifted its holdings in shares of Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after acquiring an additional 375,234 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after acquiring an additional 8,827,662 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after acquiring an additional 570,674 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Netflix by 2.9% during the 4th quarter. Invesco Ltd. now owns 4,308,201 shares of the Internet television network's stock valued at $3,839,986,000 after acquiring an additional 119,787 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Netflix by 42.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,387,159 shares of the Internet television network's stock valued at $1,293,567,000 after acquiring an additional 410,235 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Transactions at Netflix

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director owned 63,040 shares in the company, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Reed Hastings sold 26,933 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the completion of the transaction, the director owned 394 shares of the company's stock, valued at approximately $477,394.04. This trade represents a 98.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 123,830 shares of company stock worth $153,102,930 in the last quarter. 1.37% of the stock is currently owned by corporate insiders.

Netflix Price Performance

NFLX opened at $1,158.60 on Friday. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market cap of $492.32 billion, a price-to-earnings ratio of 49.37, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59. The company's 50-day moving average price is $1,234.32 and its 200 day moving average price is $1,082.35.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Needham & Company LLC reiterated a "buy" rating and issued a $1,500.00 price objective on shares of Netflix in a report on Friday, July 18th. Robert W. Baird boosted their price objective on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Wall Street Zen upgraded shares of Netflix from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

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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