State of Tennessee Department of Treasury Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

State of Tennessee Department of Treasury lowered its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,465 shares of the Internet television network's stock after selling 15,466 shares during the quarter. State of Tennessee Department of Treasury's holdings in Netflix were worth $139,460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. West Michigan Advisors LLC grew its stake in Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock valued at $692,000 after purchasing an additional 10 shares during the period. Warwick Investment Management Inc. grew its position in Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock valued at $266,000 after buying an additional 10 shares during the period. MRP Capital Investments LLC increased its holdings in Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after buying an additional 10 shares during the last quarter. Bedell Frazier Investment Counselling LLC boosted its stake in Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after acquiring an additional 10 shares during the last quarter. Finally, Enzi Wealth boosted its stake in Netflix by 3.4% in the fourth quarter. Enzi Wealth now owns 331 shares of the Internet television network's stock valued at $316,000 after acquiring an additional 11 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares of the company's stock, valued at approximately $12,700,583. This represents a 88.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay C. Hoag sold 617 shares of the business's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 274,472 shares of company stock valued at $268,079,297. 1.76% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on NFLX shares. Benchmark reiterated a "hold" rating on shares of Netflix in a research note on Monday. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday. Seaport Res Ptn upgraded Netflix from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a research note on Monday, March 24th. Finally, Wells Fargo & Company increased their target price on shares of Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a research note on Monday. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,070.65.

Netflix Price Performance

Shares of NFLX traded up $9.60 during mid-day trading on Wednesday, reaching $1,049.94. The stock had a trading volume of 6,462,015 shares, compared to its average volume of 3,706,084. The business has a fifty day moving average of $954.01 and a 200 day moving average of $897.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $449.12 billion, a price-to-earnings ratio of 52.95, a PEG ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a 12 month low of $544.25 and a 12 month high of $1,064.97.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the prior year, the firm posted $8.28 EPS. Equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

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.