Tredje AP fonden Has $13.98 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Tredje AP fonden significantly reduced its stake in Netflix, Inc., selling 56,852 shares and decreasing its ownership by 79.1%.
• The company reported a strong quarterly earnings of $7.19 per share, surpassing analysts' expectations and with a year-over-year revenue growth of 15.9%.
• Analysts maintain a generally positive outlook on Netflix, with a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Tredje AP fonden lowered its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 79.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,991 shares of the Internet television network's stock after selling 56,852 shares during the quarter. Tredje AP fonden's holdings in Netflix were worth $13,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Resurgent Financial Advisors LLC increased its position in shares of Netflix by 234.4% during the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after acquiring an additional 708 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after purchasing an additional 110,432 shares in the last quarter. PharVision Advisers LLC bought a new stake in Netflix during the 4th quarter worth approximately $873,000. New England Research & Management Inc. raised its stake in shares of Netflix by 148.5% in the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock worth $1,979,000 after purchasing an additional 1,268 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Netflix by 6.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after purchasing an additional 3,137 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 26,977 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the transaction, the director directly owned 394 shares in the company, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction on 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 transaction, the director owned 63,040 shares of the company's stock, valued at approximately $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,408 shares of company stock worth $186,614,540. 1.37% of the stock is owned by corporate insiders.

Netflix Stock Up 1.3%

Shares of NFLX stock traded up $15.46 on Wednesday, hitting $1,184.20. The stock had a trading volume of 2,908,020 shares, compared to its average volume of 3,752,075. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The stock's 50 day moving average is $1,235.42 and its 200-day moving average is $1,077.88. The firm has a market capitalization of $503.20 billion, a price-to-earnings ratio of 50.46, a P/E/G ratio of 1.97 and a beta of 1.59.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NFLX shares. Wells Fargo & Company increased their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Moffett Nathanson reaffirmed a "buy" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Bank of America lifted their price target on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Wolfe Research set a $1,340.00 price objective on Netflix and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Piper Sandler lifted their target price on Netflix from $1,400.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

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.