Sumitomo Life Insurance Co. lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 10.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,615 shares of the Internet television network’s stock after selling 1,346 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Netflix were worth $4,141,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc increased its holdings in Netflix by 59.3% in the 4th quarter. Versant Capital Management Inc now owns 94 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Clarfeld Financial Advisors LLC purchased a new stake in shares of Netflix during the fourth quarter worth approximately $27,000. Pearl River Capital LLC purchased a new stake in shares of Netflix during the fourth quarter worth approximately $30,000. NuWave Investment Management LLC increased its stake in shares of Netflix by 338.5% during the fourth quarter. NuWave Investment Management LLC now owns 114 shares of the Internet television network’s stock worth $31,000 after buying an additional 88 shares during the period. Finally, Citizens Financial Group Inc RI increased its stake in shares of Netflix by 750.0% during the fourth quarter. Citizens Financial Group Inc RI now owns 136 shares of the Internet television network’s stock worth $36,000 after buying an additional 120 shares during the period. 76.10% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. Pivotal Research restated a “buy” rating and set a $500.00 target price on shares of Netflix in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on Netflix from $425.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, January 14th. BMO Capital Markets lifted their price objective on Netflix from $440.00 to $470.00 and gave the stock an “outperform” rating in a research report on Tuesday. Nomura reiterated a “neutral” rating and set a $320.00 price objective (up previously from $300.00) on shares of Netflix in a research report on Friday, January 18th. Finally, Argus reiterated a “hold” rating on shares of Netflix in a research report on Tuesday, January 22nd. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. Netflix presently has an average rating of “Buy” and an average target price of $383.45.
Shares of NASDAQ:NFLX opened at $366.31 on Wednesday. The stock has a market cap of $152.32 billion, a P/E ratio of 136.68, a P/E/G ratio of 2.92 and a beta of 1.36. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.98. Netflix, Inc. has a one year low of $231.23 and a one year high of $423.21.
Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, April 16th. The Internet television network reported $0.76 EPS for the quarter, beating the consensus estimate of $0.57 by $0.19. The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.50 billion. Netflix had a return on equity of 25.82% and a net margin of 7.67%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. On average, equities analysts forecast that Netflix, Inc. will post 3.98 earnings per share for the current year.
In related news, CEO Reed Hastings sold 67,907 shares of the firm’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $328.17, for a total transaction of $22,285,040.19. Following the sale, the chief executive officer now directly owns 67,907 shares in the company, valued at approximately $22,285,040.19. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Anne M. Sweeney sold 7,607 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $360.00, for a total value of $2,738,520.00. Following the sale, the director now owns 444 shares in the company, valued at $159,840. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,381 shares of company stock worth $64,721,327. Company insiders own 4.29% of the company’s stock.
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Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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