Sumitomo Mitsui Trust Group Inc. Raises Position in Netflix, Inc. (NASDAQ:NFLX)

Sumitomo Mitsui Trust Group Inc. increased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,202,228 shares of the Internet television network's stock after purchasing an additional 20,155 shares during the period. Netflix accounts for 0.8% of Sumitomo Mitsui Trust Group Inc.'s investment portfolio, making the stock its 16th biggest position. Sumitomo Mitsui Trust Group Inc. owned about 0.28% of Netflix worth $1,121,114,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC grew its stake in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new position in Netflix in the fourth quarter valued at $27,000. Transce3nd LLC purchased a new stake in Netflix during the fourth quarter valued at about $32,000. Copia Wealth Management acquired a new stake in Netflix during the fourth quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. increased its stake in Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after acquiring an additional 45 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,360 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. This trade represents a 98.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 620 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total transaction of $797,840.80. The disclosure for this sale can be found here. Insiders sold a total of 185,280 shares of company stock worth $210,599,866 over the last ninety days. Company insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NFLX shares. Citigroup reiterated a "neutral" rating and set a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Rosenblatt Securities boosted their price objective on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Benchmark reaffirmed a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Finally, Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Netflix currently has an average rating of "Moderate Buy" and an average price target of $1,172.73.

Netflix Stock Performance

Netflix stock opened at $1,323.12 on Friday. 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 12 month low of $587.04 and a 12 month high of $1,331.35. The company has a fifty day moving average price of $1,183.25 and a two-hundred day moving average price of $1,023.58. The company has a market cap of $563.08 billion, a PE ratio of 62.53, a P/E/G ratio of 2.53 and a beta of 1.59.

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

Netflix 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.

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