Tokio Marine Asset Management Co. Ltd. Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Tokio Marine Asset Management Co. Ltd. has decreased its stock holdings in Netflix, Inc. by 1.8%, owning 34,339 shares valued at approximately $32 million, making it the firm's 16th largest position.
• Analysts have mixed ratings on Netflix, with updates including a target price increase from $1,500 to $1,560 by Wells Fargo, while some firms downgraded their recommendations.
• CEO Theodore A. Sarandos sold 2,026 shares of Netflix, representing an 11.78% decrease in his holdings, as insiders collectively sold over $179 million of shares in the past three months.

Tokio Marine Asset Management Co. Ltd. reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,339 shares of the Internet television network's stock after selling 628 shares during the period. Netflix comprises 1.2% of Tokio Marine Asset Management Co. Ltd.'s investment portfolio, making the stock its 16th biggest position. Tokio Marine Asset Management Co. Ltd.'s holdings in Netflix were worth $32,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Halbert Hargrove Global Advisors LLC lifted its stake in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in shares of Netflix in the fourth quarter worth $27,000. Transce3nd LLC bought a new position in shares of Netflix in the fourth quarter worth $32,000. Copia Wealth Management bought a new position in shares of Netflix in the fourth quarter worth $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix during the 1st quarter valued at $42,000. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 2.2%

Netflix stock traded up $26.12 during trading hours on Thursday, reaching $1,230.56. The stock had a trading volume of 3,901,060 shares, compared to its average volume of 3,888,609. The stock has a market cap of $522.90 billion, a PE ratio of 52.43, a PEG ratio of 2.03 and a beta of 1.59. Netflix, Inc. has a 52 week low of $659.80 and a 52 week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The company has a fifty day simple moving average of $1,231.68 and a 200-day simple moving average of $1,098.52.

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

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research reports. Pivotal Research restated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Barclays restated a "sell" rating and set a $1,100.00 price objective (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Citigroup restated a "neutral" rating and set a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Oppenheimer raised their price objective on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Finally, Needham & Company LLC restated a "buy" rating and set a $1,500.00 price objective on shares of Netflix in a research report on Friday, July 18th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insider Buying and Selling at Netflix

In related news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the transaction, the director directly owned 63,040 shares of the company's stock, valued at $78,948,144. This trade represents a 33.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,307 shares of company stock valued at $179,443,809. Insiders own 1.37% of the company's stock.

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.